Former U.S. President Donald Trump will be able to retain the ownership of his newly launched social media venture even if he chooses to make another White House run or is convicted by prosecutors who are looking into his business dealings.
According to regulatory filings issued late on Tuesday, Trump was referred to as the"company principal," even though the exact size of his stake in the company was not disclosed. "In order to maximize business continuity and to minimize, mitigate, or eliminate any negative impacts on the Company from a Material Disruptive Event, the Company Principal's ownership and position in the Company shall be structured in such a way as to eliminate the need for restructuring of ownership or changes in position were a Material Disruptive Event to occur," according to the filing.
Trump and his business interests are also the subject of numerous investigations from U.S. authorities - in June, Trump's namesake company and its chief financial officer were indicted, the first charges to arise from a more than two-year probe by New York prosecutors of Trump and his business dealings, Reuters reported."The Purchaser hereby acknowledges the controversial nature of being associated with the Company Principal and the Company Principal’s family," it said.