Trump Makes a New Fortune With Public Listing of Truth Social – WSJ

Investors approved a plan to take Donald Trump s struggling social-media company public, putting him one step closer to a roughly $3 billion windfall that could end a financial squeeze that is weighing on his presidential run.

Truth Social, with few users and little revenue, is expected to start trading on the stock market next week at a staggering valuation around $5 billion. The valuation is the result of frenzied buying by Trump supporters of shares of the shell company that merged with the former president s social-media platform.

Trump s approximately 60% stake is worth roughly $3 billion, depending on how the stock trades.

The stock s ticker will become DJT, Trump s initials, when Truth Social starts officially trading as a new public company under its parent s name, Trump Media & Technology Group. 

The vote caps off a 2 ½-year saga to take Truth Social public that included charges of insider trading and a fine to settle a Securities and Exchange Commission investigation. It makes the fledgling platform Trump founded after getting kicked off mainstream sites in 2021 perhaps his best investment ever. 

via www.wsj.com

Heh.