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

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 53%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Truth Social may merge with public shell company, potentially giving Trump stock worth billionsDonald Trump's Truth Social may vote to merge with Digital World Acquisition Corp. on Friday, opening the door for the social media site company to trade on…
Source: NBCLA - 🏆 319. / 59 Read more »