Donald Trump to make $3bn if shareholders back plan to float Trump Media

Trump’s finances are under pressure as he prepares to contest the US presidency with incumbent Joe Biden for a second time.Trump’s finances are under pressure as he prepares to contest the US presidency with incumbent Joe Biden for a second time.Donald Trump’s wealth is set to increase by more than $3bn if a shareholder vote on Friday paves the way for the float of his

The Spac, called Digital World Acquisition, has scheduled a vote on the merger with Trump Media for Friday. However, there are complications around the planned vote after Digital World sued sponsor ARC Global Investments, which is trying to delay the deal, to back the merger. Trump’s finances are under pressure as he prepares to contest the US presidency with incumbent Joe Biden for a second time. Last month Trump was formally ordered by a New York judge tofollowing a civil fraud case, in which the former president was found to have manipulated the value of his properties to obtain advantageous loan and insurance rates.

Trump will own just under 79m shares in the newly listed company. Based on Digital World’s closing share price of $42.90 on Wednesday, the former president’s stake is worth about $3.4bn.

Source: News Formal (newsformal.com)

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Donald Trump: How the least divided place in America feels about Trump’s returnIn the land of billionaires, of all political stripes, the only downside will be the traffic jams.
Source: FinancialReview - 🏆 2. / 90 Read more »

Donald Trump Wins Big in Republican PrimaryDonald Trump has notched up another big win in the race to become the Republican Party's candidate for president in this year's US election. He defeated his only remaining competitor, Nikki Haley, in the state where she was once governor.
Source: abcnews - 🏆 5. / 83 Read more »

Donald Trump, Joe Biden trade salvos in Georgia face-offThere may not be a more hotly contested state than Georgia, which swung to Mr Biden in the 2020 election and was central to Donald Trump’s fraud claims.
Source: FinancialReview - 🏆 2. / 90 Read more »

Nikki Haley doesn't endorse Donald Trump as she ends White House raceNikki Haley is out of the White House race, with Donald Trump and Joe Biden all but certain to face off in the first presidential rematch contest in almost 70 years — one polls suggest few Americans want.
Source: SBSNews - 🏆 3. / 89 Read more »

‘Nothing redeemable in him’: Robert De Niro says he would never play Donald TrumpThe actor also implored voters in the US to choose Biden in the upcoming presidential election
Source: GuardianAus - 🏆 1. / 98 Read more »