Former President Donald Trump is poised to receive a significant windfall of $3.5 billion following the approval of a merger between Digital World Acquisition Corp. and his Truth Social platform by shareholders on Friday.
The possibility of a multibillion-dollar injection comes at a time when New York Attorney General Letitia James is taking steps to seize Trump’s assets in order to cover a $464 million bond related to his civil fraud case in New York.
The much-awaited merger finally took place after receiving approval from the Securities and Exchange Commission (SEC) last month.
This means that Trump’s company, Trump Media & Technology Group, will now be publicly traded on the stock market using the stock ticker symbol “DJT.”
According to the reports, Trump’s company, now trading under the ticker symbol DJT, might take the place of DWAC on the stock market as early as Monday.
After being banned from Facebook and Twitter, which is now referred to as X, Trump launched Truth Social.
While he has been reinstated by Facebook and X, he continues to use Truth Social as a platform for commenting.
