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Truth Social on verge of stock market approval, potentially netting Trump billions

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Former President Trump's Truth Social is set to be approved to enter the stock market Friday, potentially netting the former president billions.

Former President Trump will find out Friday if his social media platform Truth Social will be green-lighted to be traded on the Nasdaq stock market. A vote will take place on whether Trump’s media company, Trump Media & Technology Group, which operates his Truth Social site, can merge with Digital World Acquisition Corp, a publicly traded shell company.

The vast majority of his social media activity over the last two years has been on Truth Social. "TRUTH SOCIAL IS MY VOICE, AND THE REAL VOICE OF AMERICA!!! Trump posted to the platform Thursday ahead of the vote. Should the merger go through, Trump would hold more than 78 million shares. Multiply that by Digital World’s current stock price of more $42, and the total value of Trump’s stake could surpass $3 billion, The Associated Press reports.

 

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