Trump Media & Technology Group, the parent company of Truth Social, announced a merger agreement with nuclear-fusion company TAE Technologies in an all-stock deal valued at more than $6 billion.
Upon closing, shareholders of each company will own approximately 50% of the combined company on a fully diluted equity basis. President Donald Trump indirectly owns more than 114 million shares of TMTG; before taking office in January 2025, he transferred that stake to a revocable trust whose sole trustee is his son Donald Trump Jr., according to CNBC.
TMTG and TAE Technologies said the merger has been approved by their boards of directors and is expected to close “in mid-2026,” subject to customary closing conditions, including shareholder and regulatory approvals. Upon closing, Trump Media & Technology Group will be the holding company for Truth Social, Truth+, Truth.Fi, TAE, TAE Power Solutions and TAE Life Sciences, among other businesses.
In 2026, the combined company plans to site and begin construction on the world’s first utility-scale fusion power plant with a 50-megawatt capacity, subject to required approvals. “Additional fusion power plants are planned and expected to be 350–500 MWe,” the companies said. “Fusion power plants are expected to provide economic, abundant, and dependable electricity that would help America win the AI revolution and maintain its global economic dominance.”
As part of the transaction, TMTG has agreed to provide up to $200 million of cash to TAE at signing and an additional $100 million is available upon initial filing of the Form S-4 with the SEC.
According to TAE, it has built and safely operated five fusion reactors and raised more than $1.3 billion in private capital to date from Google, Chevron Technology Ventures, Goldman Sachs, Sumitomo Corporation of Americas, NEA, the family offices of Addison Fischer, the Samberg Family, Charles Schwab, and others. Based in Foothill Ranch, California, TAE says it has more than 400 employees, including “62 PhD holders.”
The combined company’s board of directors will comprise two directors from TMTG (Nunes and Donald J. Trump Jr.), two directors from TAE (Binderbauer and Schwab), and five other independent directors to be selected and named later.