Trump’s social media company approved to go public, potentially netting former president billions
Posted on AllSides March 23rd, 2024
From The Left
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AP Photo/John Minchillo
Donald Trump is returning to the stock market, and the former president stands to reap a sizeable payout in the process.
Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the Trump’s media business in a Friday vote. That means Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will soon begin trading on the Nasdaq stock market.
Trump is set to own most of the combined company — or nearly 79 million shares. Multiply that by Digital World’s closing stock...