Trump's media company is turning into a nuclear fusion firm
What's the story
Trump Media & Technology, the parent company of the US President Donald Trump's Truth Social media platform, is set to merge with TAE Technologies, a private firm specializing in nuclear fusion energy. The all-stock deal is worth over $6 billion and will create one of the world's first publicly traded nuclear fusion companies.
Leadership roles
Devin Nunes to co-lead new company
Devin Nunes, a Republican congressman who quit Congress in 2021 to lead Trump Media, will be the co-CEO of the new company. He will share this role with Michl Binderbauer, CEO of TAE Technologies. The deal is expected to help secure America's energy leadership for generations, according to Nunes.
Future plans
Merger aims to establish utility-scale fusion power plant
The newly merged company plans to build the "world's first utility-scale fusion power plant" next year. The facility will produce huge amounts of electricity needed for artificial intelligence (AI) systems. This ambitious project highlights the potential of nuclear fusion as a clean energy solution and its role in powering future tech advancements.
Energy technology
Nuclear fusion: A promising energy solution
Nuclear fusion, the process of combining two light atomic nuclei into a heavier one, releases massive amounts of energy. It is the same process that powers the sun and other stars. The merger between Trump Media & Technology and TAE Technologies is a major step toward harnessing this revolutionary technology for global energy dominance.
Ownership distribution
Shareholder stakes in the new company
Under the terms of the merger, shareholders of both TAE and Trump Media will hold approximately 50% each in the combined entity. Trump himself is the largest shareholder in Trump Media, owning 41% of all outstanding shares. The deal values each share of TAE common stock at $53.89, further solidifying this unique partnership between media and energy sectors.