Trump On The Verge Of $4 Billion Stock Windfall Amid Legal Battles

Former President Donald Trump received news that a merger between his company Trump Media and Technology Group, and DWAC (Digital World Acquisition Corp.) has been approved by the SEC to move forward.

The former President could reportedly see a windfall of nearly $4 Billion from this merger. A vote for the merger is set to take place on March 22nd.

The Trump Media and Technology Group was responsible for building and releasing Trump’s Truth Social app, which is said to have had over 4.2 million downloads on the Apple App store since it was released in February of 2022.

DWAC released the following statement on the SEC’s approval of their merger with Trump Media,

Digital World expects to announce within two business days, the date of the special meeting of its stockholders (the “Special Meeting”), where stockholders of the record date, yet to be announced, can vote on the approval and adoption of the Business Combination. Digital World and TMTG look forward to continue collaborating toward the consummation of their long-awaited partnership.

“We are immensely proud of the strides we’ve taken towards advancing the Business Combination,” declared Eric Swider, the Chief Executive Officer of Digital World. “This achievement marks a significant milestone for us. Our sincere thanks go to our shareholders for their unwavering support. We are excited to soon share the news of the Business Combination’s approval process with them.”

TMTG CEO Devin Nunes said, “Truth Social was created to serve as a safe harbor for free expression and to give people their voices back. Moving forward, we aim to accelerate our work to build a free speech highway outside the stifling stranglehold of Big Tech.” Nunes continued, “I’d like to thank everyone who has believed in our mission and helped bring us to this moment: Digital World and its CEO Eric Swider, Digital World shareholders, the TMTG Board of Directors, the entire TMTG staff, and the whole community of Truth Social users.”

https://www.sec.gov/Archives/edgar/data/1849635/000119312524036806/d651831dex991.htm

This news comes after Judge Arthur Engoron ordered Trump to pay over $467 Million in a New York civil trial. Trump has also been recently ordered to pay E. Jean Carroll, a woman who accused him of sexual assault, over $83 Million for defamation.

The former President is also contending with legal cases in Fulton County, Georgia, a classified documents case in Florida, an upcoming criminal trial in Washington D.C., and facing legal battles across the United States to keep his name on the ballot for the 2024 Election.

There have been several rulings, including a ruling from the State of Colorado, in which Trump has been banned from access to the 2024 Presidential ballot.

READ MORE: Biden’s Appearance At Southern Border Sparks More Health Concerns