Donald Trump’s social network will be listed on the NASDAQ stock exchange – Kommersant
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Trump Media & Technology Group Corp. (TMTG), which owns Donald Trump’s social network Truth Social, will be listed on NASDAQ. This became known after last Friday, March 22, shareholders of Digital World Acquisition Corp. (companies for targeted mergers and acquisitions) agreed to merge with TMTG.
Under the terms of the deal, Mr. Trump will personally own about 79 million shares of the combined company. Given that Digital World’s stock closed at $36.94 on Friday, Donald Trump’s stake would be worth approximately $3 billion.
The deal will help Mr. Trump improve his financial position, which has been shaken after a series of lost lawsuits. So, by the end of today, March 25, he must provide the court with bail in the amount of $464 million as part of the case for providing false information about his own wealth. If bail is not provided, interim measures in the form of confiscation of part of the property may be applied to Mr. Trump. In this regard, the media in the United States is actively are discussing possible bankruptcy of former President Donald Trump.
By calculations The Washington Post and PolitiFact, during the entire period of his business, Mr. Trump declared bankruptcy of one or another of his assets six times, for example, the Taj Mahal casino in Atlantic City (1991), the Plaza Hotel in New York (1992), and the Trump Hotels company and Casinos Resorts (2004) and Trump Entertainment Resorts (2009).
Estimated Forbes, the ex-president’s entire fortune is estimated at $2.6 billion. At the same time, Mr. Trump will not be able to use the TMTG and Digital World deal to pay off his debts. Digital World’s charter stipulates that company insiders cannot sell newly issued shares for six months from the date of their acquisition.
Read about how Joe Biden and Donald Trump are preparing for the final push of the presidential race “White House Contenders Strengthen Voter Base”.
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