Trump Media and Technology Group said Wednesday it will no longer spin off Truth Social as a separate, publicly traded business, reversing a plan it had floated only months ago. The company said it made the decision with TAE Technologies and Texas Ventures III after further evaluation.
The move leaves Truth Social inside Trump Media as the company tries to complete its separate $6 billion merger with TAE Technologies as soon as possible. That deal, first announced in December, remains the larger prize for a company that has spent the past two years lurching from one expansion plan to the next.
The reversal matters because the spin-off would have created a standalone Truth Social business after Trump Media merged with TAE Technologies, with shares in the new company distributed to shareholders before the transaction closed. Instead, the structure now stays intact, and investors are left waiting for the merger Trump Media still wants to finish by Q4 2026 or sooner.
Donald Trump is at the center of the stakes. He holds about 114.7 million shares, or a 52% stake, worth roughly $932.5 million at Wednesday’s share price. Trump Media’s stock fell 0.3% shortly after trading opened Wednesday, and the company’s market value stood at $2.2 billion, nearly 75% below its peak of about $8.7 billion in January 2025.
The company did not say why it abandoned the spin-off idea. That silence stands out because Trump Media has been unusually active in trying to widen its business beyond the social platform, announcing plans for Truth.Fi, speaking about prediction markets with Crypto.com and, after the merger, saying it would build the world’s first utility-scale fusion power plant capable of generating 50 megawatts of electricity.
Trump Media went public in March 2024 through a reverse merger with Digital World Acquisition Corp., and its stock has been volatile ever since. The company’s Truth Social posts have repeatedly drawn attention, including in recent clashes over Iran strikes and earlier attacks on political rivals, but Wednesday’s news was not about the platform’s messaging. It was about ownership, control and a company choosing to keep its flagship app under one roof while pushing ahead with a much larger transaction.
For now, that means the promised standalone Truth Social business is gone. What remains is the harder question: whether Trump Media can close the fusion merger on the timetable it still wants, or whether this latest reset is another sign that the company’s next phase is still being built in motion.
