Digital World Acquisition Corp. shareholders will vote on Friday on whether to acquire Trump Media, the business that operates the social media site Truth Social, and put it on the public market.
At the current share price of Digital World, Mr. Trump would own at least 58% of the combined company, making his investment worth over $3 billion.
Pronounced D-whack, Digital World, also known as DWAC, is a shell company established specifically to acquire another company and go public, also known as a SPAC.
Mr. Trump may receive an incredible financial benefit in exchange for a company whose own auditor
informed that it was vulnerable to failure last year. Ignore the numerous warning signs around the transaction, such as pending legal actions from previous business associates. In addition, Digital World agreed to pay a $18 million settlement last year to allay allegations of fraud regarding the creation of the merger deal.
