(TargetLiberty.org) – Last week, Digital World Acquisition Corp. (DWAC) shareholders approved the merger with Truth Social, the media startup created by former President Donald Trump. This could possibly lead to Trump receiving a $3.5 billion windfall.
The merger which has been delayed previously between Trump Media & Technology Group (TMTG) and the blank check company has now gotten the Securities and Exchange Commission (SEC) regulatory approval. The deal would result in Trump making around $3.5 billion, as he would end up controlling around 79 million shares in the merged company.
On Friday the stock climbed in value going from around $44 per share to $46.7 before dropping to $38.12. Right before noon, the shares settled at close to $41. This windfall comes while the former President is trying to secure a $464 million bond in the New York civil fraud case. Earlier this week Trump’s legal team had admitted that it was almost “impossible” for them to secure the full appeal bond because they did not have access to the necessary cash on hand.
Trump has until Monday to secure the bond or the New York attorney general’s office could start the process of seizing his assets. This is a process that they have already started as it has filed judgments in Westchester County in order to be able to seize Trump’s private estate known as Seven Springs or Trump’s golf resort.
Entering a judgment is the first step in the necessary process for them to attempt to seize Trump’s assets. Judgment has already been entered in New York City, where the civil fraud case had taken place. Trump owns two of his most famous properties in the city, The Trump Tower and 40 Wall Street.
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