Trump media merger is approved, providing fresh source of cash

📆 22/03/2024 18:17:00
📰 The Straits Times

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Trump Media will debut with a market value of more than US$5 billion.

NEW YORK – Former president Donald Trump’s social media company on March 22 completed a long-awaited merger with a cash-rich shell company, raising Trump’s wealth by billions and potentially providing him a fresh source of cash to pay his mounting legal bills.

The deal will pump more than US$300 million into Trump Media, which has all but exhausted its available cash and will allow Truth Social, the company’s flagship digital media platform, to keep operating.

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