Sat. Jul 20th, 2024

Trump is about to get another 3 billion USD

Avatar of Nick John By Nick John Mar23,2024 #another #Trump
Trump is about to get another 3 billion USD 5
Trump is about to get another 3 billion USD 5

On March 22, shareholders of Digital World Acquisition Corp voted to approve the merger with Trump Media – the company of former US President Donald Trump.

The new company will be called Trump Media & Technology Group, operating the Truth Social social network founded by Trump several years ago.

Digital World Acquisition Corp is a SPAC (special purpose company), currently listed on the Nasdaq (USA).

According to the plan, the two companies will complete the merger 2 working days after the deal is approved.

Trump will hold 79 million shares of the new company and can receive tens of millions more units if he meets business goals.

Former President Donald Trump spoke in Palm Beach, Florida on March 19.

This takes place in the context that the former US President is trying to find a way to pay fines to the court.

Although Trump filed an appeal, New York Attorney General Letitia James still required him to pay the fine or find a way to guarantee this fine before the March 25 deadline, otherwise his assets will be confiscated.

Mr. Trump’s legal team said they approached 30 guarantee companies, but none agreed to guarantee such a large fine.

However, experts say that there are many legal, financial, and practical factors that prevent this deal from helping Trump solve his cash shortage problem.

These shares are not as liquid as Trump’s real estate.

Besides, Trump will probably be bound by the terms of not selling shares immediately after listing.

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