# Daily Wire $100M Strategic Raise Semafor reported (June 23, 2026) that the [[The Daily Wire]], "under pressure," is in talks to secure **at least $100 million in investment**, with [[Highmount Capital]] positioned to lead a round valuing the company at **~$750 million**. Highmount has been helping the Daily Wire shop the investment to at least four other firms, including two strategic investors. The company's bankers pitched a **~$2 billion IPO as achievable "within approximately 18 months."** > [!warning] Talks, not a signed deal > As of the July 2026 sweep this is a reported negotiation, not a closed transaction. Upgrade triggers: a confirmed investment (Highmount or otherwise), or an S-1 filing. ## Why it matters 1. **The cash-crunch endgame.** The [[The Daily Wire]] page documents the 2025 crisis — [[Jeremy Boreing]] out of the co-CEO seat, ~25% layoffs, the Bentkey shutdown, a bankruptcy-counsel hire, and a Pendragon production overrun near $100M. A strategic raise at $750M (below the $600M–$800M private-valuation band's implied hopes, and far below the old $1B+ talk) is the balance-sheet resolution of that arc: outside capital replacing the subscription-funds-Hollywood model that failed. 2. **Koch-adjacent money inside a flagship MAGA outlet.** Highmount Capital was founded by two former [[Koch Industries]] employees. The Daily Wire's original patrons were the fracking billionaire Wilks brothers; a Highmount-led round would put Koch-network-adjacent private equity into the cap table of one of the right's largest media properties — a donor-network crossover worth tracking in its own right. 3. **A right-wing media IPO test case.** A $2B public listing for [[Ben Shapiro]]'s company would be the first true public-market test of a digital-native right-wing media property since Trump Media — with real subscription revenue instead of a meme float. ## See Also - [[The Daily Wire]] — outlet page (2025 crisis, Bentkey, Pendragon overrun) - [[Highmount Capital]] — prospective lead investor - [[Rumble-Northern Data Business Combination]] / [[Trump Media and Technology Group]] — the other right-media capital-markets plays