President Trump is set to rake in a windfall profit of $3.5 billion—a slap in the face to Letitia James and those afflicted with TDS.
The deal between Truth Social and DWAC has been approved, and President Trump’s social media company will begin publicly trading on the Nasdaq Exchange under the ticker symbol “DJT” on Tuesday, March 26, 2024.
Some point out that President Trump cannot immediately sell his shares to put toward his current legal fees.
I say, who cares? Assets are assets. With a net worth set to skyrocket by an additional $3.5 billion, there will be a line of financiers and banks ready to loan out President Trump the money for his legal fees.
Secured by an additional $3.5 billion in assets, the legal bills numbered in the hundreds of millions will not be a problem. Here’s the latest:
🚨TRUMP'S TRUTH SOCIAL MERGER APPROVED
If Trump’s 58% of a social network with a few million users is reportedly expected to be worth $3.5 Billion- what does that say about the value of X with 550M+ users?
I think maybe @elonmusk got a good deal after all?
Source: CBS News pic.twitter.com/xfRrpRqOe0
— Mario Nawfal (@MarioNawfal) March 22, 2024
https://twitter.com/jimmyfailla/status/1771187280654328200
Fox Business talks Truth Social going public
"That could be a huge payday for Donald Trump"
"He's got a few billion in the coffers once the deal gets done" 🔥 pic.twitter.com/8dnonMIBdz
— johnny maga (@_johnnymaga) March 22, 2024
Access Wire provided this lengthy press release following the successful merger:
Digital World now operates as “Trump Media & Technology Group Corp.” following the successful completion of the Business Combination.
Beginning on Tuesday, March 26, 2024, the common stock and public warrants of TMTG are expected to begin trading on the Nasdaq Stock Market LLC (“Nasdaq”) under the ticker symbols “DJT” and “DJTWW,” respectively.
TMTG, as a publicly traded company, will continue to be led by Chief Executive Officer, Devin G. Nunes, and its existing management team.
“Today marks a pivotal moment not only for DWAC and TMTG as a combined entity, but for the broader media and technology landscape.
I am thrilled to be stepping into the role of Director at this transformative time for our combined company.
Working alongside Devin Nunes, as CEO of TMTG, presents an extraordinary opportunity to shape the future of media and technology.
Devin’s leadership and vision for what we can achieve together are truly inspiring.
I am confident that under his guidance and the leadership team of TMTG, our combined strengths are expected to lead us toward groundbreaking achievements.
This partnership represents not just a strategic alignment, but a shared commitment to excellence and innovation.
ADVERTISEMENTI look forward to contributing to our journey ahead, driving forward initiatives that will redefine our industry and create meaningful connections and value across the globe,” said Eric Swider, former CEO of Digital World, new director of TMTG.
“As a public company, we will passionately pursue our vision to build a movement to reclaim the Internet from Big Tech censors,” said TMTG CEO Devin Nunes.
“We will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressors.
As we mark this milestone, I want to particularly thank Eric Swider for his unflagging dedication to our deal and our cause.”
ABC News pointed out this minor detail: “Donald Trump’s Truth Social has completed a merger that could net him over $3 billion — but a provision in the deal keeps him from immediately selling his shares.”
Donald Trump's Truth Social has completed a merger that could net him over $3 billion — but a provision in the deal keeps him from immediately selling his shares. https://t.co/xUBghkkg0U
— ABC News (@ABC) March 23, 2024
The Epoch Times explained the role of DWAC:
Digital World is what’s called a special purpose acquisition company, or SPAC, also known as a “blank-check company.”
ADVERTISEMENTSPACs raise cash and then hunt for companies to merge with.
Such deals give the target companies a potentially quicker and easier way to get their stocks onto the New York Stock Exchange or Nasdaq.
The arrangement lets them avoid some of the paperwork associated with traditional initial public offerings of stock, or IPOs.
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!