Digital World Acquisition Corp shares saw a sharp stock decline following approval from shareholders to merge with Trump Media & Technology Group, amid wider scrutiny of the former president's financial obligations.As the approval news broke early on Friday, DWAC's stock plummeted by nearly 10 percent in stark contrast to the surge that had occurred in anticipation of the merger vote.
With a civil judgment of $454 million looming over him and efforts to secure a bond proving difficult, Trump's fiscal stability is under intense examination.On Friday, Trump said on Truth Social that he has 'almost five hundred million dollars in cash,' which he plans to use in his campaign for president, indicating that the funds will not be allocated towards the civil penalty.
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Digital World Acquisition Corp: DWAC trades at $1.6B ahead of merger with Trump MediaDigital World Acquisition Corp (DWAC), the beleaguered special purpose acquisition company (SPAC) that has spent years trying to merge with Donald Trump’s social media company, saw its stock skyrocket more than 20% at some point on Wednesday.
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Trump windfall could top $3 billion after DWAC shareholder vote on social media mergerDonald Trump faces a looming $454 million fraud judgment in New York that state Attorney General Letitita James could start collecting on next week.
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Trump social media merger approved by DWAC shareholders, deal could net ex-president $3 billionDan Mangan is a reporter covering politics for CNBC.com.
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Trump social media company will go public as DWAC shareholders approve mergerDonald Trump faces a looming $454 million fraud judgment in New York that state Attorney General Letitita James could start collecting on next week.
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Donald Trump Is Poised to Pocket Billions in a Meme Stock Media MergerThe former president has kept his finances in the dark. But now he’s pressed for cash and Truth Social could be the answer.
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