Overview
- Shareholders of Trump Media and TAE are slated to own roughly 50% each of the combined company on a fully diluted basis.
- Devin Nunes and Michl Binderbauer are expected to serve as co-CEOs, with Michael Schwab poised to chair a nine-member board that includes Donald Trump Jr.
- Trump Media committed up to $200 million in cash at signing and another $100 million upon the initial SEC filing to support TAE’s operations.
- The companies target a mid-2026 closing pending shareholder and regulatory approvals, and they plan to site and begin building a 50 MWe utility-scale fusion plant in 2026 subject to permits.
- Trump Media’s stock jumped roughly 20% to 35% in early trading after the announcement, while TAE highlighted more than $1.3 billion raised from backers including Google and Chevron.