Former President Donald Trump is poised to receive a substantial sum of $3.5 billion following the approval of a merger between Digital World Acquisition Corp. and his Truth Social by shareholders. This potential windfall arrives at a critical juncture as New York Attorney General Letitia James seeks to seize Trump’s assets in order to satisfy a $464 million bond related to his civil fraud case in New York.
After facing numerous delays, the merger finally materialized subsequent to the Securities and Exchange Commission’s (SEC) endorsement last month. As a result, Trump’s company, Trump Media & Technology Group, will soon be listed on the stock market under the ticker symbol “DJT,” potentially as early as next week.
Upon completion of the merger, Trump will possess approximately 79 million shares in the newly-formed entity, which currently holds a value of around $41 per share. However, the former president will be unable to liquidate his stake until six months after the merger. Nevertheless, there have been suggestions that Trump may pursue a waiver to expedite the process, enabling him to utilize the funds to pay the bond and subsequently appeal the fraud case.
🚨BREAKING: Shareholders have just voted to make Trump Media & Technology Group, the parent company of Truth Social, a publicly traded company. This could net Trump a windfall of $4 billion. The President would need to seek a waiver to liquidate his stock before the end of a…
— Charlie Kirk (@charliekirk11) March 22, 2024
