Trump windfall could top $3 billion after DWAC shareholder vote on social media merger
- Donald Trump could earn a windfall of $3 billion or more — eventually, at least — if shareholders in Digital World Acquisition Corp. vote to approve a merger with the former president's social media company.
- The vote by DWAC shareholders comes about two-and-a-half years after that so-called SPAC announced plans to merge with Trump Media & Technology Group, the private firm that owns the Truth Social app platform.
- It also comes as Trump faces the possibility that New York Attorney General Letitia James on Monday will start trying to collect on a massive $454 million civil fraud judgment against him.
Donald Trump could earn a windfall of $3 billion or more — eventually, at least — if shareholders in Digital World Acquisition Corp. on Friday vote to approve a merger with the former president's social media company.
The vote by DWAC shareholders comes about two-and-a-half years after the so-called special purpose acquisition company announced plans to merge with Trump Media & Technology Group, the private firm that owns the Truth Social app platform.
It also comes as Trump faces the possibility that New York Attorney General Letitia James on Monday will start trying to collect on a massive $454 million civil fraud judgment against him.
If approved as expected, shares in the newly combined company could begin to be publicly traded next week under the stock symbol DJT, Trump's initials.
Trump's long-gone casino and hotel company also traded under that ticker symbol.
Several lawsuits recently filed over the merger's terms have not affected the voting schedule.
Read more CNBC politics coverage
- Democrats cite AI gains and automation in Senate bill calling for 32-hour workweek
- ‘Not on my watch’ — Biden blasts Trump over