After Bitcoin, Nuclear Fusion... the Expanding 'Trump Empire'

Korea Economic Daily

Summary

Trump Media said it has agreed to merge with TAE Technologies in a deal worth about 9 trillion won.
On the news, Trump Media's stock rose 41.93%, drawing investors' attention.
Trump Media is expanding its activities into the energy business as well as virtual assets such as Bitcoin.

All-stock exchange merger with TAE Technologies

First power generation targeted for 2031

Stock soars 41.9% immediately after merger announcement

Trump Media & Technology Group (Trump Media), the parent company of the social networking service platform Truth Social founded by U.S. President Donald Trump, has agreed to merge with U.S. nuclear fusion technology developer TAE Technologies in a deal worth about 9 trillion won.

On the news, Trump Media's stock jumped more than 40% at once. The Trump family has expanded its business area from the virtual asset market to the nuclear fusion energy sector.

On the 18th (local time), Trump Media announced that it plans to merge with TAE Technologies via an all-stock exchange to launch the world's first publicly listed company in the fusion power sector. After the merger, each company will hold half of the new firm's shares, and the transaction size tops $6 billion (about 8.868 trillion won).

The merged entity will begin constructing the world's first commercial fusion power plant starting next year and plans to pursue additional plant construction thereafter. The initial power generation is slated for 2031. Analysts say the Trump family has expanded into the energy sector to target the surge in power demand due to the AI boom. TAE Technologies is considered one of the oldest private fusion companies in the world.

Trump Media, listed on the Nasdaq, saw its stock surge 41.93% that day. Although financial uncertainty increased due to losses from investments in virtual assets like Bitcoin—causing the stock to fall as much as 70% so far this year—it has recovered a significant portion of those losses. Trump Media has bought virtual assets worth $2 billion (about 3 trillion won), including Bitcoin, and has issued several types of stablecoins and meme coins.

President Trump signed an executive order targeting the construction of 10 large existing reactors by 2030 and has stated that government funds should be used to restart idled nuclear power plants. He also proposed a goal to expand current nuclear plant capacity of about 100 gigawatts (GW) to 400 GW by 2050.

Reporter Im Da-yeon allopen@hankyung.com