• Sun. Apr 21st, 2024

Just in Time: Trump Stands to Earn Billions from Truth Social

BySamantha Johnson

Mar 21, 2024
Just in Time: Trump Stands to Earn Billions from Truth Social

Former President Donald Trump is currently facing financial struggles as he attempts to raise the funds needed for a $456 million appeal bond for a New York state civil fraud verdict. Despite this, he stands to make billions from his social media platform, Truth Social. Shareholders are set to vote on a merger to bring Truth Social’s parent company public, where Trump’s stake could be worth around $3.5 billion. However, any financial gain from this is unlikely to happen immediately, as Trump is restricted from selling his shares until at least six months after the merger is complete.

To complicate matters further, Trump is in urgent need of cash to buy the appeal bond before a Monday deadline. His legal team revealed that he currently lacks the funds to secure the bond, putting him at risk of defaulting on the judgment. On top of this, there are ongoing legal disputes surrounding the merger, with shareholders within Trump Media & Technology Group and Digital World Acquisition filing lawsuits against each other prior to the vote.

Despite these challenges, if the merger is approved, the new company is expected to receive the trading symbol DJT, representing the former president’s initials. Trump launched Truth Social in response to being banned from major social media platforms like Twitter, Facebook, and YouTube after the January 6, 2021, Capitol riot. Although he has since regained access to these platforms, Trump has shifted his focus to Truth Social, using it as a platform for sharing his real-time reactions and engaging with his followers.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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