News Formal

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

  • 📰 CNBC
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

South Africa News News

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

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.

 

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:

 /  🏆 12. 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.

DWAC, Truth Social merger could boost Trump’s net worth by $3 billionThe Digital World Acquisition Corporation is merging with the company behind Trump’s Truth Social.
Source: verge - 🏆 94. / 67 Read more »

Breitbart Business Digest: The Truth About Trump’s Truth Social WindfallSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »