Trump's Truth Social to go public in deal that could net him $3 billion
Shareholders in Digital World Acquisition Corporation voted Friday to approve a merger with Donald Trump’s social media company, a deal that could net the former president an eventual windfall of $3 billion or more.
Shareholders in Digital World Acquisition Corporation voted Friday to approve a merger with Donald Trump’s social media company, a deal that could net the former president an eventual windfall of $3 billion or more.
The vote by DWAC shareholders comes about two-and-a-half years after the so-called special purpose acquisition company announced plans to merge with Trump Media & Technology Group, the private firm that owns the Truth Social app platform.
It also comes as Trump faces the possibility that New York Attorney General Letitia James on Monday will start trying to collect on a massive $454 million civil fraud judgment against him.
If approved as expected, shares in the newly combined company could begin to be publicly traded next week under the stock symbol DJT, Trump’s initials.
Trump’s long-gone casino and hotel company also traded under that ticker symbol.
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