Trump’s Truth Social wins OK to go public, cash-strapped ex-president’s stake worth over $3B

Donald Trump’s Twitter clone Truth Social is slated to make its stock market debut as early as next week — giving the cash-strapped ex-president a potential windfall of more than $3 billion as the 2024 election season heats up.

Shareholders of blank-check acquisition company Digital World Acquisition Corp. on Friday approved a merger with the social media app’s parent company, Trump Media & Technology Group. Trump’s 58% personal stake in the publicly traded entity will be worth as much as $3.3 billion.

The deal comes as the presumptive Republican 2024 presidential nominee faces a Monday deadline to cover a $454 million penalty in a civil fraud case in New York. 

Should the 77-year-old businessman-turned-politician not be able to cough up the multimillion-dollar penalty, New York Attorney General Letitia James will be free to start going after Trump’s prized properties.