Trump Stands to Make Billions in Truth Social Merger Deal

Contact Your Elected Officials
The Epoch Times Header

Amid ongoing litigation fees and legal penalties, the former president looks to take home some profits soon.

A potential merger involving former President Donald Trump’s social media platform Truth Social can take the company public and will give him access to $3.5 billion in funds—a deal which his political rivals are looking to thwart.

On Feb. 14, the U.S. Securities and Exchange Commission (SEC) approved the merger between Digital World Acquisition Corp. (DWAC) and Trump Media & Technology Group (TMTG). TMTG is the owner of social media platform Truth Social. Once DWAC merges with TMTG, it can go public, with President Trump holding 78.75 million shares in the combined entity. DWAC shares were trading at around $45 as of 1:45 p.m. EST on Feb. 27, indicating that President Trump’s stake in the new entity could be worth $3.5 billion.

The amount can be a substantial cash infusion for the former president who has been charged with a $355 million fine two weeks ago by a New York judge in a civil fraud ruling. Adding in interest, the final amount comes to $464 million.

With the SEC nod, all that is left for the merger to be completed is shareholder approval. DWAC has scheduled a shareholder vote on the merger for March 22. A SPAC merger usually closes within a few days after getting the approval.

However, the merger is facing Trump-related risks. DWAC said in a Feb. 16 filing that the merger may be delayed by third parties. Political opponents of President Trump could seek to block the merger to prevent his “potential financial gain,” DWAC said.

The focus of the $464 million lawsuit was the annual statements of The Trump Organization, which the New York Supreme Court said inflated values of President Trump’s assets. However, his defense pointed out that no harm was done through the transactions with no victims.

On Feb. 26, Trump attorneys appealed the ruling. The court can potentially put the $464 million ruling on hold while the appeals process is carried out, which could last a year or more.

By Naveen Athrappully

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

This Is America: Target™ Reparations

“This Is America” explores the cultural undercurrents pulling Western...

Blind Man’s Shutdown

Congress is playing the equivalent of Bind Man's Bluff. With the shout “tag your it” they seek to blame the other party for the government shutdown.

A Reluctant Acknowledgment: What Conservatives Can Admire in Everyday Progressives

Admirable ideological qualities seen in liberals and left-wing individuals are those of the everyday believer not their political leadership.

Ensuring Domestic Tranquility

The Supremacy Clause in Article VI of the U.S. Constitution establishes it as the highest law of the land, taking precedence over conflicting state laws.

Is There a 9/11 WTC and 9/10 Charlie Kirk Connection?

Strange parallels in online stories raise questions about whether Israelis and Mossad intelligence are our allies or adversaries.

Trump to Deploy 300 National Guard Members in Illinois, Pritzker Says

President Trump to deploy 300 National Guard members in Illinois after DHS said federal officers were rammed and fired upon near Chicago,

A Shooting Near Houston Suburb Leaves Two Children Dead and Two Others in Critical Condition

Two children were killed and two more were critically injured in a shooting early Saturday near the Houston suburb of Angleton, Texas, authorities said.

Trump Admin to Offer Stipends for Unaccompanied Illegal Immigrant Children Who Voluntarily Return Home

Trump admin is offering a $2,500 stipend to children who voluntarily return to their home countries after illegally entering U.S. unaccompanied.

Rite Aid Closes Last Store, Ending Decades-Long Run as One of America’s Biggest Pharmacy Chains

Rite Aid, one of the largest pharmacy chains in the country, has permanently closed the last of its locations after struggling with bankruptcy for years.

Department of Energy Cancels $7.5 Billion in Project Funding

The Dept of Energy (DOE) said on Oct. 2 that it had terminated 321 federal grants funding 223 projects, amounting to about $7.56 billion in cuts.

White House Withdraws EJ Antoni’s Nomination to Lead Bureau of Labor Statistics

The White House has withdrawn economist EJ Antoni’s nomination to lead the Bureau of Labor Statistics, the White House confirmed on Sept. 30.

US to Impose 100 Percent Tariffs on Foreign-Made Movies, Trump Says

President Donald Trump announced on Sept. 29 that he will impose a 100 percent tariff on all movies produced outside the United States.

Trump to Host Netanyahu at White House to Discuss Gaza Peace Plan

President Trump will host Israeli Prime Minister Netanyahu at the White House on Sept. 29 to discuss a ceasefire and broader peace plan for Gaza.
spot_img

Related Articles

Popular Categories

MAGA Business Central