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Trump social media to go public. $3 billion + windfall for Trump.
Posted on 3/22/24 at 3:21 pm
Posted on 3/22/24 at 3:21 pm
GP
Shareholders on Friday voted to take Trump’s social media company public.
Investors in Digital World Acquisition Corporation ($DWAC) approved the special purpose acquisition company (SPAC) to merge with Trump Media & Technology Group, the parent company of Truth Social, to become a newly combined publicly traded entity.
The new entity will publicly trade under the stock symbol $DJT as early as next week.
$DJT will debut with a market value of more than $5 billion and President Trump’s 60 percent stake of the company could be worth about $3 billion.
Trump will have 80 million shares but he will be barred from selling them for at least 6 months.
The board of directors however could vote to allow Trump to sell his shares earlier.
CNBC reported:
Shareholders in Digital World Acquisition Corporation voted Friday to approve a merger with Donald Trump’s social media company, a deal that could net the former president an eventual windfall of $3 billion or more.
The vote by DWAC shareholders comes about two-and-a-half years after the so-called special purpose acquisition company announced plans to merge with Trump Media & Technology Group, the private firm that owns the Truth Social app platform.
It also comes as Trump faces the possibility that New York Attorney General Letitia James on Monday will start trying to collect on a massive $454 million civil fraud judgment against him.
Shares in the newly combined company, Trump Media, could begin to be publicly traded next week under the stock symbol DJT, Trump’s initials.
...
Shareholders on Friday voted to take Trump’s social media company public.
Investors in Digital World Acquisition Corporation ($DWAC) approved the special purpose acquisition company (SPAC) to merge with Trump Media & Technology Group, the parent company of Truth Social, to become a newly combined publicly traded entity.
The new entity will publicly trade under the stock symbol $DJT as early as next week.
$DJT will debut with a market value of more than $5 billion and President Trump’s 60 percent stake of the company could be worth about $3 billion.
Trump will have 80 million shares but he will be barred from selling them for at least 6 months.
The board of directors however could vote to allow Trump to sell his shares earlier.
CNBC reported:
Shareholders in Digital World Acquisition Corporation voted Friday to approve a merger with Donald Trump’s social media company, a deal that could net the former president an eventual windfall of $3 billion or more.
The vote by DWAC shareholders comes about two-and-a-half years after the so-called special purpose acquisition company announced plans to merge with Trump Media & Technology Group, the private firm that owns the Truth Social app platform.
It also comes as Trump faces the possibility that New York Attorney General Letitia James on Monday will start trying to collect on a massive $454 million civil fraud judgment against him.
Shares in the newly combined company, Trump Media, could begin to be publicly traded next week under the stock symbol DJT, Trump’s initials.
...
Posted on 3/22/24 at 3:33 pm to Night Vision
Yes trump is broke ??. Ummmm not.
Posted on 3/22/24 at 3:37 pm to Night Vision
They’ll try to shut it down.
Posted on 3/22/24 at 3:40 pm to SelaTiger
Yahoo finance is none too happy about it either.
Posted on 3/22/24 at 3:45 pm to TDTOM
quote:
Yahoo finance is none too happy about it either.
Yeah, I noticed they immediately had to throw up some article about this merger not really helping Trump with his current cash shortfall.
Posted on 3/22/24 at 3:46 pm to Warboo
quote:
Yes trump is broke ??. Ummmm not.
All the more reason for middle class Americans not paying his legal bills.
Posted on 3/22/24 at 3:56 pm to Night Vision
Every single article about this has the word "windfall" in the headline.
Posted on 3/22/24 at 3:57 pm to Night Vision
You think the feds will make note people who invest?
I'd love to support DJT financially but don't need any headaches living in a super blue state and ultra blue city
Still registered as a Dem after BLM shite bc that's all public and they were identifying registered Republicans and donors using actual maps
I'd love to support DJT financially but don't need any headaches living in a super blue state and ultra blue city
Still registered as a Dem after BLM shite bc that's all public and they were identifying registered Republicans and donors using actual maps
This post was edited on 3/22/24 at 4:00 pm
Posted on 3/22/24 at 4:00 pm to Night Vision
Marie Harf looked like her dog just died when this came out on Outnumbered
Posted on 3/22/24 at 4:01 pm to YouKnowImRight
quote:
YouKnowImRight
quote:
All the more reason for middle class Americans not paying his legal bills.
Nice.
Posted on 3/22/24 at 4:04 pm to Night Vision
AG James is looking into holding up stock roll out I would suspect or at very minimum looking to immediately lock up stock to even possibly suggest the value in IPO is overvalued
Posted on 3/22/24 at 4:04 pm to Night Vision
Ny gonna say that the platform is only worth $5.
Posted on 3/22/24 at 4:07 pm to Nosevens
quote:Don’t think she’s that smart
AG James is looking into holding up stock roll out I would suspect or at very minimum looking to immediately lock up stock to even possibly suggest the value in IPO is overvalued
Posted on 3/22/24 at 4:10 pm to YouKnowImRight
quote:
All the more reason for middle class Americans not paying his legal bills.
They are paying for the prosecution
Posted on 3/22/24 at 4:11 pm to YouKnowImRight
quote:
All the more reason for middle class Americans not paying his legal bills.
I'd rather be paying for Trump's legitimate defense against bogus charges, than to continue to have my tax dollars pay for the eff bee eye, see eye A, Secret Service and dee oh jay to keep covering up the Biden Crime Family's misdeeds.
Fact.
Posted on 3/22/24 at 4:13 pm to TigerAxeOK
He doesn't need your money. He's a billionaire. He should be funding his own defense and his own campaign.
Posted on 3/22/24 at 5:27 pm to YouKnowImRight
quote:
He doesn't need your money. He's a billionaire. He should be funding his own defense and his own campaign.
I don't know where the campaign thing came from, but ok.
Go ahead and name all the mainstream politicians that fully fund their own campaigns.
You're obviously either trolling or retarded. Maybe both.
Posted on 3/22/24 at 5:32 pm to Night Vision
He doesn’t have to sell.. he could take a margin loan like every other ceo does.
Posted on 3/22/24 at 5:35 pm to TigerAxeOK
quote:
Go ahead and name all the mainstream politicians that fully fund their own campaigns.
You're obviously either trolling or retarded. Maybe both.
He's a BILLIONAIRE. He could fund three presidential campaigns.
He doesn't need your money, he just wants it so he doesn't have to spend his.
Also, wasn't he supposed to be different from the other politicians?
This post was edited on 3/22/24 at 5:36 pm
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