In October 2021, TMTG went public through a merger with the special purpose acquisition company (SPAC) Digital World Acquisition Corp (DWAC), with the stock code DJT. Trump is the largest shareholder of TMTG, and in December 2024, he will transfer approximately 115 million shares (worth about $4 billion) to a trust controlled by his eldest son Donald J. Trump Jr., with no sale of shares and no consideration, referred to as a "gift." This equity arrangement further solidifies TMTG's binding with the "Trump brand." Trump has also stated that he will not leave Truth Social and will not sell his shares in Trump Media Group.

But TMTG has not stopped at social networks. Backed by Trump's political capital and media presence, the company is gradually building a diverse ecosystem around content, finance, and technology. From the streaming platform Truth+ (which focuses on family-friendly and Christian content) to the planned cryptocurrency payment and utility token mechanisms, and to the emerging fintech and asset management business, this startup media company is attempting to blur the lines between "media" and "tech finance," telling a higher multiple growth story to the capital markets.

The diversified layout of TMTG is closely linked to the political influence of its founder Trump. Truth Social is not just a social platform, but also an extension of the Trump brand effect. However, its user base is relatively niche, and the profit model is not yet mature, making the growth strategy reliant on Trump's personal reputation uncertain. The focus on cryptocurrency and streaming aims to break through in high-growth areas.