The green light on Donald Trump’s plans to take the social networking platform publicinvestors said, a move that is expected to make the former US president about $3 billion at a time when Donald Trump is facing financial pressure due to his legal adventures.

THE “Trump Media & Technology”, the company that controls the former president’s social network “Truth Social” has been struggling for years to enter the US stock market through a merger with “shell company”.

The resistance seems to have subsided as the shareholders of Digital World Acquisitionon Friday gave the green light for the merger with Trump Media & Technology. And while Trump’s platform, Truth Social, has seen sales of just $5 million since its launch in 2021, supporters of the former US president rallied to boost Digital World’s stock. A move that resulted in a 145% rise in the stock since the beginning of the year, catapulting it to around $6 billion. It is noted that in the wake of the developments, Digital World’s stock was trading at $44. Trump will control 79 million shares of the newly listed companywhich translates to as much as $3 billion. However, he will not be able to liquidate his stake immediately as by law the main shareholders cannot sell their shares before six months have passed from the time of the merger.

With a symbol his initials

The stock will trade on the New York Stock Exchange under the ticker symbol “Trump Media & Technology Group” with the stock symbol being “DJT” – his initials Donald Trump.

Can he repay the $464 million fine?

While the former president is $3 billion richer, his failure (according to him) to post bond to a New York judge is how he will repay the $464 million fine imposed on him for financial fraud at his real estate group, after his conviction in a civil trial in February, it is not clear whether he has been served.

However, before the green light for the merger was announced, Trump said in a post on Truth Social that he managed to raise nearly “$500 million in cash through hard work, talent and luck.” An amount that could secure him the bond that the New York justice wants as a guarantee to consider the appeal that his lawyers filed earlier this week.

But on the other hand, the former president said he plans to use “a significant amount” of the cash he raised to finance his campaign – which is facing a cash crunch as his political establishment has poured tens of millions of dollars into pay the lawyers who represent him in his various criminal and civil cases.

Trump accused the New York judge of knowing how much cash he had and deliberately reaching the $464 million fine to hinder his campaign, repeating his baseless claims that the case was politically motivated.