Former President Donald Trump’s stake in Trump Media & Technology Group, his social media company, could be worth as much as $4 billion once a long-delayed merger closes, The New York Times reports.
The deal with Digital World Acquisition could provide him with a potential financial lifeline at a time when he must come up with the cash to pay a $454 million penalty following a New York judge’s ruling in a civil fraud case involving his real estate empire.
Digital World has scheduled a March 22 shareholder vote on the merger with Trump Media, whose flagship product, Truth Social, has become the social media platform of choice for Trump to attack his critics and political opponents.
But even if the deal closes, Trump would need to get a waiver from a lockup provision that restricts major stockholders from selling shares for at least six months. Trump Media did not respond to a request for comment. Read more.
