Summary
President Donald Trump's media company, Trump Media & Technology Group, plans to merge with TAE Technologies, a fusion energy company, in a deal worth over $6 billion. Concerns about conflicts of interest have arisen because TAE Technologies receives federal funding. The White House has denied these claims, asserting no conflicts of interest exist for President Trump or his family.
Key Facts
- Trump Media & Technology Group (TMTG) and TAE Technologies announced a merger, valued at over $6 billion.
- TAE Technologies recently received $6.1 million from the U.S. Department of Energy for fusion research.
- Ethics experts express concerns about potential conflicts of interest due to federal funding and Trump's roles.
- In March 2024, TMTG became a public company after merging with Digital World Acquisition Corp.
- President Trump transferred over 114 million TMTG shares to a trust managed by his son, Donald Trump Jr.
- TMTG has also expanded into financial services, including plans for cryptocurrency exchange-traded funds.
- The White House denies any conflicts of interest related to the merger or TMTG's activities.
