President Donald Trump’s Truth Social merger could end up changing everything as he battles for the presidency and fends off multiple lawfare attacks.
Regarding the presidential race, The Hill reports that the merger could help “to close the fundraising gap” between Trump and Democrat President Joe Biden.
Biden currently has a big lead on Trump.
And, concerning the legal proceedings, it appears that Trump is no longer going to be as strapped for cash as the Democrats – including New York Attorney General Letitia James (D) and leftist New York Judge Arthur Engoron – were hoping he would be.
Trump’s company merger was confirmed late last week, as Slay News reported.
Truth Social is the social media company that Trump started after Big Tech platforms – including Twitter, Facebook, and others – suspended his accounts following the events of Jan. 6, 2021.
Recently, there have been reports that the Trump Media & Technology Group – which owns Truth Social – was looking to complete a merger.
Now, the shareholders of Digital World Acquisition Corporation have approved this merger.
The latest reports on the merger indicate that Trump will land over $3 billion from the deal – more than doubling his estimated net worth of $2.6B.
ABC News reports:
“Shares in DWAC currently stand around $40 per share.
“With Trump owning 58.1% of the common stock in the company, the former president stands to make over $3 billion from the deal depending on how the stock ultimately trades.
“Experts say it represents a staggering valuation for a social media company that ranks below major competitors like Facebook, X, and TikTok.”
There is a slight catch, however.
The outlet adds:
“The deal currently includes a lockout provision that prevents Trump from immediately selling or getting loans based on his shares.”
The provision means Trump would have to wait six months before he would be able to cash out.
However, the board could vote to overturn this rule.
Meanwhile, the deal is also a game-changer for Trump’s legal situation, specifically in the New York civil “fraud” case.
In the New York case, Engoron has imposed a $464 million judgment on Trump – an unprecedented fine for an individual or private company.
Trump has been given a deadline of today – March 25 – to pay the bond.
Recently, as the deadline to post the bond was approaching, the political Left has been gloating about this judgment.
Democrats and their allies were hoping that Trump would not be able to pay and that he would be forced to sell some of his assets – even, perhaps, Mar-a-Lago.
NY AG Letitia James had already taken steps to seize Trump’s properties such as Trump Tower in New York City.
They are also hoping, of course, that this judgment will derail Trump’s 2024 campaign.
Now, though, it appears that Trump will be able to post the bond and that he will not have to sell his assets or significantly disrupt his 2024 campaign.
This has to be infuriating for Democrats.
No matter how hard they try, they just can’t stop Trump.
