Shareholders of Digital World Acquisition Corp. have voted to approve a merger with Donald Trump’s social media company, Trump Media & Technology Group, which owns the Truth Social app platform, CNBC reports.
The newly combined company, Trump Media, is expected to start publicly trading next week under the stock symbol DJT. Trump’s shares in the merged company could be worth around $3 billion, although the exact value will depend on the company’s opening share price. Trump faces restrictions on selling shares for six months, but the board, including Trump allies, could potentially lift this restriction.
This potential cash influx is significant as Trump faces legal challenges and seeks to overturn a $454 million civil fraud judgment. He claims to have nearly $500 million in cash, as stated in a Truth Social post.
