Trump says 'I love Truth Social' one day after DWAC stock plunges on social media merger vote

📆 23/03/2024 19:33:00
📰 CNBC

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Donald Trump faces big civil judgments, but the merger of Digital World Acquisition and his social media company could net him a $3 billion windfall.

Donald Trump told followers, "I LOVE TRUTH SOCIAL" — but shareholders in the newly merged company that will own that social media app might not feel so great.

If that drop accelerates in the coming weeks, the value of Trump's majority stake in the newly merged company, dubbed Trump Media, could be a bit lower than the $3 billion or so estimated before shareholders signed off on the deal Friday. In the past week, Trump's lawyers have said in a court filing that he does not have the cash to obtain an appeal bond to secure a $454 million fraud judgment in one of those cases. This would, for now, thwart the New York Attorney General's Office from collecting on that award.

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