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The Bloomberg Perplex

  How to make his mark

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Former President Donald Trump is planning to start a social media network to compete with Twitter and Facebook, which have kicked him off their platforms. Digital World Acquisition Co, a so-called blank-check company, or SPAC, plans to fund Truth Social, Trump’s venture, with the $290 million that the company has raised from institutional investors, merging itself out of existence in the process. DWAC shares closed Friday at $94, a ten-fold increase over their initial offering price a few days before, having traded as high as $175 during the day. Trump’s alternative to Twitter is scheduled to launch next month. Truth