Trump unlocks potential $3bn windfall after social media Spac deal

Trump Media & Technology Group, the company behind Trump's Truth Social site, will list on the Nasdaq exchange with the ticker symbol DJT, Trump’s initials, next week. Photograph: AP Photo/Jeff DeanDonald Trump’s social media business will become publicly listed after shareholders of a so-called blank-cheque company approved the deal, unlocking a potential $3 billion -plus windfall for the former US president.

Shares in Digital World Acquisition Corporation, the special purpose acquisition company with which TMTG first announced merger plans in late 2021, were down approximately 5 per cent after Friday’s announcement.

Source: News Formal (newsformal.com)

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