"Trump's Truth Social Goes Public, Potential $3 Billion Windfall"
Investors have approved the public launch of Donald Trump's social media platform, Truth Social, through a merger with Digital World Acquisition, potentially netting the former president a paper fortune of $3 billion. Despite Truth Social's lackluster performance, Digital World's stock has rallied, boosting the firm's value to about $6 billion. Trump's holding in the combined business is listed at 79 million shares, leaving him with a stake of about $3 billion on paper. However, he will not be able to cash in this stake immediately. The stock's rise is attributed to its status as a meme stock and a betting tool on the probability of Trump winning the election.
- Trump could net $3bn after investors approve Truth Social to go public The Guardian US
- Trump is about to get $3 billion richer after deal is approved to take his company public. But it won’t solve his cash crunch CNN
- Trump's Social Media Company Is Finally Going Public. He Could Make Billions. – Mother Jones Mother Jones
- DWAC stock tumbles more than 12% after Trump social media merger approved by shareholders CNBC
- Why Trump's big Wall Street payday won't bail him out of financial trouble POLITICO
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