Trump’s Social Media Company Approved To Go Public, Potentially Netting Former President Billions

Donald Trump is returning to the stock market, and the former president stands to reap a sizeable payout in the process. Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the Trump’s media business in a Friday vote. That means Trump Meadia & Technology Group, whose flagship product is social networking site Truth Social, will soon begin trading on the Nasdaq stock market.

Trump is set to own most of the combined company — or nearly 79 million shares. Multiply that by Digital World’s closing stock price Friday of $36.94, and the total value of his stake could be nearly $3 billion.

The greenlight arrives at a time the presumptive Republican presidential nominee is facing his most costly legal battle to date: a $454 million judgment in a fraud lawsuit