Donald Trump to receive billions after merger deal


Former President Donald Trump reacts during a campaign rally at the Forum River Center in Rome, Georgia, March 9, 2024. — Reuters

Former U.S. President Donald Trump will get a cash infusion as a blank-check company approved a merger on Friday that will bring a billion-dollar windfall while his finances continue to struggle with cash. Fighting austerity and legal bills.

A large portion of Donald Trump’s campaign funds went toward resolving his legal woes, according to documents filed by Save America with the Federal Election Commission.

The group, which Trump founded to defeat Joe Biden in 2020, reported paying him more than $5.5 million in legal fees last month. Cumulative spending since the beginning of 2023 exceeds $55 million.

Investors on Friday gave the go-ahead for the business tycoon’s Trump Media & Technology Group, the parent company of Truth Social, to go public after years of hurdles.

In this illustration taken on February 21, 2022, The Truth social network logo can be seen displayed behind a woman holding a smartphone. — Reuters
In this illustration taken on February 21, 2022, The Truth social network logo can be seen displayed behind a woman holding a smartphone. — Reuters

The 77-year-old will be worth $3.5 billion after merging with Digital World Acquisition Corp., holding nearly 79 million shares in the company.

According to media reports, the company will be called Trump Media & Technology Group and will trade under the former president’s initials, DJT.

Trump’s social media platform, Truth Social, will be owned by the company.

The current deal could ease Trump’s cash crunch as he works to post bonds in civil fraud cases worth more than $450 million.



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By Ali Raza

I am a dedicated and skilled News Content Writer with a passion for delivering accurate and engaging stories to a diverse audience. With a solid background in journalism and a keen eye for detail, I bring a commitment to excellence and a deep understanding of the evolving media landscape.

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