Trump could see his fortune rise if Digital World Acquisition (DWAC) shareholders vote on Friday to give the green light to a long-awaited merger with Trump Media & Technology Group
Donald Trump he could see her his fortune to increase by more than $3 billion (2.35 billion pounds) in the event that the shareholders of the company Digital World Acquisition (DWAC), which manages the technology platform Truth Social, vote tomorrow Friday and give the “green light” for the long-awaited merger with the Trump Media & Technology Group.
Trump Media is the parent of the conservative social media platform Truth Social.
If the merger goes ahead and DWAC shareholders approve the merger on Friday, TMTG will be a wholly owned subsidiary of Digital World. DWAC will then change its name to Trump Media & Technology Group, according to regulatory filings. If the merger goes through, then Trump’s 90% stake in TMTG could be valued at around $3 billion, based on DWAC’s current share price.
Trump will own just under 79 million shares of the newly-listed company. Based on Digital World’s closing share price of $42.90 on Wednesday, the former chairman’s stake is worth about $3.4 billion.
However, even if the merger goes through and Trump Media goes public as soon as next week, Trump wouldn’t be able to cash in immediately. It would first need to bypass a provision preventing major shareholders from selling shares for six months.
At the same time Trump is in dire financial straits after struggling to secure a nearly half-billion-dollar bond to obtain an appeal bond that would prevent the New York attorney general from seizing the assets of his estates to satisfy a $454 million civil fraud judgment.
Trump has described the case as “witch hunt”, has denied any wrongdoing and plans to appeal the decision. It’s Monday too the deadline for Trump to obtain a bond against his assets guaranteeing the payment of $454 million. However, this week his lawyers said it was “virtually impossible” to get that bond after he was turned down by 30 surety companies.
Source :Skai
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