BREAKING: Trump Officially Secures MASSIVE Financial Windfall
Shareholders for the shell company that controls Truth Social, the social media company founded by former President Donald Trump, have voted to go public, providing the Republican with upwards of a $4 billion windfall during a critical juncture in his ongoing criminal and civil cases.
A vote by owners of the Trump Media & Technology Group to merge with Digital World Acquisition Corp a special purpose acquisition company or SPAC, would see Truth Social listed on the NASDAQ Stock Exchange under the ticket “DJT.”
If valuations for the new entity hold, President Trump could end up with somewhere between $3.5 and $4 billion in new net assets, according to CBS News. Converting the on-paper value into cold hard cash could be tricky, however.
Trump would need to sign a waiver allowing for the liquidation of his stock before a six-month lockup period. Doing so would allow him to post the $454 million bond needed for his New York real estate judgment.
As billionaires go, Trump is a small fry (net worth: $2.6 billion), worth somewhere around the same as Oprah Winfrey ($2.8 billion). He's nowhere near Elon's order of magnitude ($195.3 billion), and as media people keep pointing out, net worth is not the same as having cash on hand. Maybe Elon could immediately pay a $450 million penalty, but Trump doesn't have that sort of cash at the ready. Now, though, he might if he successfully liquidates the assets that come from Truth Social's going public. As others have noted, there's no reason to worry about Donald Trump's finances. I'm pretty sure, though, that he'd rather pay the over $500 million bond, then appeal Judge Engoron's decision, and eventually end up recouping his money without ever paying the real penalty. I can also see him being vindictive enough to do whatever it takes to starve New York City to death to make it pay for the stupidity of its leaders, who are a reflection of the stupidity of its voters.
But will Trump really take that route? We'll see soon enough.
And don't forget about the precedent these mindless Trump-haters have established. What goes around comes around, and when this tactic is used against them in the future, it will be a bloodbath.
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