Former President Donald Trump stands to profit upwards of $3 billion from the recent merger of his social media company, Truth Social, with Digital World Acquisition Corp.Digital World Acquisition Corporation shareholders voted on Friday in favor of the merger, combining the special purpose acquisition company with Truth Social to create Trump Media, publicly traded under the stock symbol DJT. Trump’s 58% stake is valued to be worth as much as $3.3 billion..
The vote by DWAC shareholders comes about two-and-a-half years after the so-called special purpose acquisition company announced plans to merge with Trump Media & Technology Group, the private firm that owns the Truth Social app platform. It also comes as Trump faces the possibility that New York Attorney General Letitia James on Monday will start trying to collect on a massive $454 million civil...
Truth Social, Trump’s response to Twitter after he was booted from the platform in the wake of the Jan. 6 Capitol Insurrection, will go public...Donald Trump’s Twitter clone Truth Social is slated to make its stock market debut as early as next week — giving the cash-strapped ex-president a potential windfall of more than $3 billion as the 2024 election season heats up.
Shareholders of blank-check acquisition company Digital World Acquisition Corp. on Friday approved a merger with the social media app’s parent company, Trump Media & Technology Group. Trump’s 58% personal stake in the publicly traded entity will be worth as much as $3.3 billion.