Trump Media to merge with TAE Technologies in $6 billion deal

by · UPI

Dec. 18 (UPI) -- Trump Media announced Thursday that it's merging with TAE Technologies, a nuclear fusion company, in a $6 billion agreement.

TAE is a privately held company based in California, and Trump Media is a publicly traded one based in Florida. The all-stock merger will create the first publicly traded fusion power company. The deal is expected to close in mid-2026.

Upon closing, shareholders of each company will own about 50% of the combined company on a fully diluted equity basis, a press release said.

As part of the transaction, Trump Media has agreed to give up to $200 million in cash to TAE at signing and another $100 million is available upon initial filing with the Securities and Exchange Commission.

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Trump Media shares rose 25% in premarket trading on the merger news after dipping 75% from January highs, CNBC reported. The company operates the social media platform Truth Social.

President Donald Trump owns more than 114 million shares of Trump media, which are now in a revocable trust held by Donald Trump Jr.

Devin Nunes, Trump Media chair and CEO, and Dr. Michl Binderbauer, TAE CEO and director, will serve as co-CEOs of the combined company. Michael B. Schwab, founder and managing director of Big Sky Partners, is expected to be chair of a nine-member board of directors.

"Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now we're taking a big step forward toward a revolutionary technology that will cement America's global energy dominance for generations," Nunes said in a statement. "Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s -- an innovation that will lower energy prices, boost supply, ensure America's A.I.-supremacy, revive our manufacturing base and bolster national defense."

Binderbauer said the company is excited to create its first fusion site.

"Our talented team, through its commitment and dedication to science, is poised to solve the immense global challenge of energy scarcity. At TAE, recent breakthroughs have prepared us to accelerate capital deployment to commercialize our fusion technology. We're excited to identify our first site and begin deploying this revolutionary technology that we expect to fundamentally transform America's energy supply," Binderbauer said.

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President Donald Trump delivers an address to the nation from the Diplomatic Room of the White House on Wednesday. Trump touted what he described as successes achieved by his administration during his first year back in office, while bashing his predecessor, former President Joe Biden, and the Democrats. Pool Photo by Doug Mills/UPI | License Photo