The former President Donald Trump is set to receive billions from his stake in Truth Social as a result of a long-delayed merger being approved. A shell company created solely to purchase Truth Social’s parent company, Trump Media & Technology Group, finalized the merger. This move will allow Truth Social to become part of a publicly traded company and its parent company to be relisted for public trading using Trump’s initials as soon as Monday.
Trump being a significant stakeholder in the social media platform, his net worth is expected to increase by over $3 billion following the merger. However, there are ongoing lawsuits between shareholders that could complicate the company’s future. To expedite access to his funds, Trump may rely on the support of his allies such as Devin Nunes, Donald Trump Jr., Robert Lighthizer, and Linda McMahon who will serve on the board.
The potential relisting of the new company on the Nasdaq under the symbol DJT, representing the former president’s initials, is expected as soon as Monday. This financial windfall comes at a crucial time for Trump, given his mounting legal fees and costs related to various cases. By Monday, Trump must post an appeal bond to cover the over $456 million he owes New York State from a civil fraud judgment.
