{"id":104871,"date":"2024-03-22T18:03:34","date_gmt":"2024-03-22T18:03:34","guid":{"rendered":"https:\/\/lascrucestoday.com\/newstalklc\/trumps-truth-social-company-completes-merger-that-could-net-him-over-3-billion\/"},"modified":"2024-03-22T18:03:34","modified_gmt":"2024-03-22T18:03:34","slug":"trumps-truth-social-company-completes-merger-that-could-net-him-over-3-billion","status":"publish","type":"post","link":"https:\/\/lascrucestoday.com\/newstalklc\/trumps-truth-social-company-completes-merger-that-could-net-him-over-3-billion\/","title":{"rendered":"Trump&#8217;s Truth Social company completes merger that could net him over $3 billion"},"content":{"rendered":"<div>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.amazonaws.com\/syndication.abcaudio.com\/files\/2024-03-22\/Getty_032224_Trump4.jpg\" alt><figcaption>Joe Raedle\/Getty Images<\/figcaption><\/figure>\n<p>(WASHINGTON) &#8212; Donald Trump&#8217;s social media company Truth Social completed a merger Friday morning that could net the former president over $3 billion.<\/p>\n<p>Shareholders of Digital World Acquisition Corporation &#8212; a special purpose acquisition company &#8212; approved a merger with Trump Media &amp; Technology Group, which owns Truth Social.<\/p>\n<p>The company can begin trading as a public company, with the stock symbol DJT on Nasdaq, as early as next week.<\/p>\n<p>Shares in DWAC currently stand around $40 per share.<\/p>\n<p>With Trump owning 58.1% of the common stock in the company, the former president stands to make over $3 billion from the deal depending on how the stock ultimately trades. Experts say it represents a staggering valuation for a social media company that ranks below major competitors like Facebook, X, and TikTok.<\/p>\n<p>However the deal currently includes a lockout provision that prevents Trump from immediately selling or getting loans based on his shares &#8212; potentially limiting Trump&#8217;s ability to use the windfall as collateral for a bond in his $464 million civil fraud judgment.<\/p>\n<p>Trump faces a Monday deadline to secure a financial guarantee to cover the judgment, after a New York judge in February ordered him to pay $464 million in disgorgement and pre-judgment interest when he found the former president and his adult sons liable for using &#8220;numerous acts of fraud and misrepresentation&#8221; to inflate his net worth in order to get more favorable loan terms.<\/p>\n<p>Trump has denied all wrongdoing and has appealed the decision in the case.<\/p>\n<p>Copyright \u00a9 2024, ABC Audio. All rights reserved.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Joe Raedle\/Getty Images (WASHINGTON) &#8212; Donald Trump&#8217;s social media company Truth Social completed a merger Friday morning that could net the former president over $3 billion. Shareholders of Digital World Acquisition Corporation &#8212; a special purpose acquisition company &#8212; approved a merger with Trump Media &amp; Technology Group, which owns<span class=\"more-link\"><a href=\"https:\/\/lascrucestoday.com\/newstalklc\/trumps-truth-social-company-completes-merger-that-could-net-him-over-3-billion\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[156,31,2],"tags":[273,271,276,274,270,123,275,133,124,272,102,103],"_links":{"self":[{"href":"https:\/\/lascrucestoday.com\/newstalklc\/wp-json\/wp\/v2\/posts\/104871"}],"collection":[{"href":"https:\/\/lascrucestoday.com\/newstalklc\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lascrucestoday.com\/newstalklc\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lascrucestoday.com\/newstalklc\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/lascrucestoday.com\/newstalklc\/wp-json\/wp\/v2\/comments?post=104871"}],"version-history":[{"count":0,"href":"https:\/\/lascrucestoday.com\/newstalklc\/wp-json\/wp\/v2\/posts\/104871\/revisions"}],"wp:attachment":[{"href":"https:\/\/lascrucestoday.com\/newstalklc\/wp-json\/wp\/v2\/media?parent=104871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lascrucestoday.com\/newstalklc\/wp-json\/wp\/v2\/categories?post=104871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lascrucestoday.com\/newstalklc\/wp-json\/wp\/v2\/tags?post=104871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}