The former president is fighting hard to overcome attacks from both sides of the political aisle. But this latest report could be a game-changer.
And Donald Trump just got handed news that could change everything for him.
On Friday, Truth Social and Digital World Acquisition, which is a special purpose acquisition company (SPAC), announced that they would merge with one another.
Truth Social is former President Donald Trump’s social media site that he uses over other sites such as Facebook and X.
The social media platform is apart of the Trump Media & Technology group which can now be publicly traded on the stock market.
The initials “DJT” will now be seen on the stock ticker as a result of the merger.
Trump now has 79 million shares with the company and each share is worth about $41.
According to the Wall Street Journal, however, the shares are worth more because it’s considered a “meme stock” due to Trump supporters trying to help boost its value.
University of Florida Finance Professor Jay Ritter explained to The Washington Post that Trump Media is “a money-losing company that generates less than $5 million per year.”
He also said that Digital World Acquisition seems as though it’s “a classic meme stock, whose price is totally unrelated to the underlying fundamentals.”
As for Trump and his share of the company, he’ll have to wait until six months after the merger to cash out any stocks, but he could potentially net $4 billion from his share in the company.
This announcement is especially big as Trump has been ordered to pay a $464 million bond as a result of his New York civil fraud case that was brought up by New York Attorney General Letitia James.
James has said that if Trump can’t pay the bond, then she will look into seizing his assets, including Trump Tower in New York City.
There is a possibility that the former president could get a waiver that would allow him to cash out his stocks from the Trump Media & Technology Group in order to pay the bond from his civil fraud case, according to Turning Point USA’s Charlie Kirk.
🚨BREAKING: Shareholders have just voted to make Trump Media & Technology Group, the parent company of Truth Social, a publicly traded company. This could net Trump a windfall of $4 billion. The President would need to seek a waiver to liquidate his stock before the end of a…
— Charlie Kirk (@charliekirk11) March 22, 2024
As for paying the bond in cash, Trump’s team of lawyers have said that it would be a “practical impossibility.”
James and her Leftist pals have tried to make things extremely difficult for Trump regarding this case.
It’s been their main goal from the start to try and bankrupt the former president so that he’s left with practically nothing.
The Left hates Donald Trump so much that they’re willing to destroy him in anyway possible.
Stay tuned to The Federalist Wire.
