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President Donald Trump has just orchestrated another masterful deal as Digital World Acquisition Corp. (DWAC) and Trump Media & Technology Group (TMTG) are finally merging on the heels of a Friday shareholder vote.
RSBN previously reported that the anticipated vote was on track for March 22. On Friday morning, news broke that shareholders had voted to move forward with the merger, which will take Truth Social public.
Truth Social is President Donald Trump’s free-speech social media platform. It launched in February 2022, and the merger has been hotly anticipated for the past two years.
According to the Associated Press, the president owns almost 79 million shares in the company. With the current stock price, he could profit more than $3 billion from the merger alone. However, he wouldn’t be able to sell stock for at least six months.
Per AP:
“Trump’s earlier foray into the stock market didn’t end well. Trump Hotels and Casino Resorts went public in 1995 under the symbol DJT — the same symbol Trump Media will trade under. By 2004, Trump’s casino company had filed for bankruptcy protection and was delisted from the New York Stock Exchange.”
It seems that Truth Social is on track to catapult the president back into the stock exchange—and at an extremely fortuitous time. The president is currently facing a $454 million judgment in the New York civil fraud case, so a potential upcoming $3 billion windfall could certainly benefit him in an election year.
The stock’s ticker, as pointed out by the Associated Press, will be DJT – the president’s initials. The Wall Street Journal called the Truth Social platform “perhaps his best investment ever” and with billions of profit on the horizon, it seems like they’re right.