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Trump’s social media company approved to go public, potentially netting former president billions

Posted on AllSides March 23rd, 2024
From The Left
AP Photo/John Minchillo

Donald Trump is returning to the stock market, and the former president stands to reap a sizeable payout in the process.

Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the Trump’s media business in a Friday vote. That means Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will soon begin trading on the Nasdaq stock market.

Trump is set to own most of the combined company — or nearly 79 million shares. Multiply that by Digital World’s closing stock...

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https://apnews.com/article/trump-media-truth-social-spac-vote-841820869418c37ad7eed04f2af42854

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