Trump Stands to Gain Billions If Media Company Merger Approved, But Faces Uncertainty and Looming Payment Deadline
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Trump stands to make over $3 billion if his Trump Media & Technology company merges as planned with Digital World Acquisition and gets listed on the stock market.
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Digital World's stock price has soared 140% this year to nearly $42 per share due to support from Trump fans and meme stock traders. At that valuation, Trump's 78.75 million shares would be worth $3.3 billion.
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There's uncertainty whether Digital World shareholders will approve the merger at a meeting on Friday. The company is embroiled in lawsuits with its sponsor, a major shareholder.
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Even if the merger goes through, Trump cannot sell his new shares for 6 months per normal Spac rules.
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Trump needs to pay $454 million by Monday per a court order, but says it's practically impossible for him to obtain the necessary bond after 30 surety companies turned him down.