Donald Trump would own most of the company, and the total value of his stake could surpass $3 billion.
By Associated PressThe download screen for the Truth Social app. Shareholders voted Friday to merge Trump Media & Technology Group, which runs Truth Social, and Digital World Acquisition Corp. — a special-purpose acquisition company, or SPAC., also referred to as a blank check company.
If the merger is greenlit, which is likely, Trump stands to receive a sizeable payout. He would own most of the combined company — or nearly 79 million shares. Multiply that by Digital World’s current stock price of more $42, and the total value of Trump’s stake could surpass $3 billion. Digital World listed many of the risks its investors face, as well as those of the Truth Social owner, if Trump Media also goes public.
Trump Media and Digital World first announced their merger plans in October 2021. In addition to a federal probe, the deal has faced a series of lawsuits leading up to Friday’s vote.
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