How does Trump stand to make $3bn from Truth Social being listed on the market?
by Dan Milmo Global technology editor from US news | The Guardian on (#6KH5X)
The company - which has only raised $5m since 2021 - benefits from meme stock status, valued not for revenue but for clicks
Donald Trump racked up a paper fortune of $3bn on Friday when the Truth Social, the social media platform he created, completed a merger that listed the company on the US stock market.
Shareholders in Digital World Acquisition, the listed vehicle set to turn into Trump Media & Technology, approved the transaction on Friday morning, in a move that could boost Trump's wealth considerably.
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