Deadbeat Donny Fully Exposed!

[Bernardo de La Paz]

36. tRump may soon get $3.1 billion, but he can't sell any for 90 days

Newsweek:

"This is an urgent message for all Digital World Acquisition Corp. shareholders," Swider said in the Wednesday email. "A special Shareholder Meeting of Digital World Acquisition Corp. will be held on March 22, 2024, and your proxy vote is needed. This meeting is being convened for a pivotal purpose - to seek your approval for a proposed merger in which Digital World Acquisition Corp. will become Trump Media & Technology Group Corp, as well as solicit approval for additional proposals to facilitate the Merger."

Trump, who was recently hit with a massive $454 million penalty in the New York civil fraud case, could benefit massively from the proposed deal. Once it closes, his stake in his social media company, Trump Media & Technology Group (TMTG), could be worth as much as $3 billion. TMTG is the parent company of Trump's Truth Social, the platform he started after being banned from sites like Twitter and Facebook in the wake of the January 6, 2021, riot at the U.S. Capitol.

Because Trump would own 79 million shares in the postmerger company, the deal could give him a "financial lifeline," according to The New York Times. The stock closed on Wednesday at $40.19 per share. At that price, Trump's overwhelmingly majority stake would be worth over $3.1 billion.

Regulations would forbid him selling shares for 90 days after the deal goes into effect, but he could borrow against it as collateral. If he sold about 15% of that to pay the penalty or pay a loan for the penalty, he'd depress the stock price. The more he sells, the more it drops.