The anticipation of Donald Trump’s re-entry into Wall Street hinges on a crucial vote scheduled for Friday by shareholders of Digital World Acquisition Corp. Currently, the company primarily consists of a substantial cash reserve, with Trump’s potential involvement poised to reshape its trajectory.
Donald Trump’s Truth Social network is poised to make its highly anticipated debut on Wall Street, potentially valuing his stock holdings in the billions of dollars on paper. However, despite the impressive valuation, the former president may face limitations on immediately cashing out his shares, barring certain changes.
The long-term prospects for Trump’s Truth Social network are cast into doubt, with the company acknowledging anticipated ongoing losses. Additionally, experts express skepticism regarding the actual value of the company, suggesting it may be considerably lower than what the stock market indicates.
The potential return of Donald Trump to Wall Street hinges on a critical vote scheduled for Friday by shareholders of Digital World Acquisition Corp., a company currently holding significant cash reserves. Digital World Acquisition Corp. aims to merge with Trump Media & Technology Group (TMTG), the entity responsible for Truth Social.
Donald Trump is poised to become the majority owner of the newly combined entity, holding approximately 78.8 million shares, constituting a stake of at least 58%. With Digital World’s current stock price exceeding $40 per share, the potential valuation of Trump’s holdings could exceed $3 billion. This significant ownership stake underscores Trump’s substantial influence over the future direction and performance of the merged company, which includes Trump Media & Technology Group (TMTG), the entity behind the Truth Social network.
Trump faces a $454 million judgment in a fraud lawsuit, among other financial burdens. But he cannot sell easily for at least six months.
