With Donald Trump’s net worth having grown by around $400 million since leaving office, or around four times the current net value of Trump Media and Technology Group (TMTG), the fate of the battered merger agreement between TMTG and Digital World Acquisition is of scant importance to the former US President in the greater scheme of things, especially as the $1 billion windfall from the deal has all but evaporated, reports WCCF TECH. Nonetheless, TMTG’s Truth Social platform can still serve a purpose should Trump win the presidency in 2024, hence the ongoing interest in the fate of this marooned merger agreement.
Digital World and TMTG in late September entered into a third amendment to their merger agreement, which stipulated the filing of an amended Form S-4 by Nov. 14, another round of due diligence, and the option to terminate the merger agreement by Nov. 21 should the due diligence fail.
The former US President Trump retains a 90% stake in TMTG, the entity that controls Truth Social – a platform that aims to emulate Elon Musk’s X-branded social media behemoth.
Truth Social is often considered Trump’s personal echo chamber. At launch, the platform was targeting an audience of 81 million users by 2026. Today, the platform can only boast around 6.5 million users. Read more.
