Many people have accused Democrats of using the legal system to influence the 2024 Election. It is possible that all the lawsuits thrown at Donald Trump are not really about getting him convicted. Instead, they might be trying to bleed Trump dry.
As it stands, he has four criminal cases to deal with, requiring armies of lawyers. Recently, the civil trial against him in New York resulted in a massive $450 million fine.
Even if Trump is found not guilty in the pending cases, he still will have to shell out hundreds of millions of dollars. That is an incredible drain on his time and resources that should be spent on his campaign. But now, it looks like Trump has found a solution that could really chap the Democrats’ hide.
With a $454 million civil fraud judgment looming over former President Donald Trump, the leading 2024 presidential candidate could be looking at a multi-billion-dollar windfall as his social media company, Truth Social, aims to go public.
The social media company will likely merge with Digital World Acquisition, a special-purpose acquisition company (SPAC), which Truth Social could then replace on the stock market with the ticker DJT, Trump’s initials. Trump’s stake in the public company would be around 60%, or $3.5 billion at its current value…
The former president would have to hold his shares for six months before he could sell any of them unless Digital World Acquisition waives its agreement, The Washington Post reported. But if the agreement were waived, the potential of the company’s largest stockholder dumping his holdings could tank the stock price. [Source: Daily Wire]
In a matter of days, Trump could pull in over $3.5 billion. His Truth Social platform has been approved for merging with Digital World Acquisition, a company that is traded on the stock market. Once merged, investors will be able to buy stock in Trump’s social network.
The former president currently owns 60% of the company. That would result in $3.5 billion at its current value. But if investors rush to buy Truth Social stock, that value could rise exponentially, resulting in even more cash for Trump.
Truth Social was created by Trump after he was kicked off of liberal-owned social networks. Millions have flocked to the social network, believing it is one of the few left that protect Americans’ First Amendment rights. Despite heavy criticism from the left, Trump and the company claim Truth has enjoyed consistent growth.
Even after Trump was allowed back onto X and Facebook, he has remained consistently posting to Truth–making it an exclusive location for commentary and interaction with the former president. That alone could make this company an attractive buy for many investors.
When Trump released “digital trading cards,” critics laughed. Yet those sold instantly, proving them wrong. But with a brand new company that allows Trump to sell stock? The sky might be the limit.
This could ensure Trump with enough cash to fend off Democrat lawsuits and keep his campaign surging ahead.
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