Donald Trump ’s button-down social media platform , Truth Social , will become apublicly switch companyas betimes as next week . stockholder in Digital World Acquisition Corp ( DWAC ) approved a merger with Trump Media and Technology Group on Friday morning , first reported byCNBC .
Trump Media is becoming a public ship’s company , under the caudex ticker DJT , at a crucial metre for the former President . Attorney General Letitia James is preparing toseize Trump ’s New York golf game course and individual estateif he ca n’t compensate $ 454 million in legal bills , concord to CNN . cornet has reportedly approached 30 ship’s company to secure a loanword to give off his hefty New York sagaciousness , but none have offered him a bond .
Truth Social has been a line of life many time for Donald Trump , butnow more than ever . The Twitter dead ringer gave Trump a platform to preach from when it launched in 2022 , and now it ’s offering him a huge inflow of cash . The former president stands to gain more than $ 3 billion from Trump Media becoming a public company , according to DWAC ’s share price on Friday dawn . Trump would own at least 58 % of the public company in this arrangement .
Photo: Rokas Tenys (Shutterstock)
DWAC and Trump Media ’s merger comes with a 6 - calendar month locking agreement for major owners , meaning Trump can not straightaway deal his view in the company . However , circuit board members can sign a release allowing Trump to kick the bucket his lockup agreement beforehand . Given that the former President is the star of this operation , and how high the stakes are , it ’s not unconvincing the display board will research that option .
Redditbecame the first social medium company to IPO in five eld this week , following Pinterest in 2019 . Trump Media is not IPOing , it ’s merging with an already public company . However , Truth Social will be the second great social media company to become publically traded this year .
The former President is the largest shareowner in Trump Media , but his financial stake is mostly subordinate on the share damage . DJT has the electric potential to become a meme stock certificate , and it ’s frequently cited on the infamous stock trading subreddit r / wallstreetbets . If it becomes a meme lineage , it ’s likely to have significant fluctuations in share price . Reddit recentlycalled itself outas have the potential drop to become a meme stock in its IPO filing .
Alt - techDonald TrumpFreedom of speechLetitia JamesRedditTrumpismTruth Social
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