With a $454 million civil fraud judgment looming over former President Donald Trump, the leading 2024 presidential candidate could be looking at a multi-billion-dollar windfall as his social media company, Truth Social, aims to go public.
Shareholders are expected to vote Friday on a merger to take the platform public, The Wall Street Journal reported. The social media company will likely merge with Digital World Acquisition, a special-purpose acquisition company (SPAC), which Truth Social could then replace on the stock market with the ticker DJT, Trump’s initials. Trump’s stake in the public company would be around 60%, or $3.5 billion at its current value.
Digital World Acquisition’s shares have skyrocketed since January, moving up from around $17 to more than $42, where it currently stands. The shell company has turned into a “meme stock” for Trump supporters, which has…
