A potential Truth Social merger could raise billions for Trump, but the money will come too late to post his nearly $500 million bond.
to post his $464 million bond in the New York civil fraud case, Truth Social going public looked like it might have been his saving grace.Investorson a deal that allowed the former president’s social media company, which operates Truth Social, to be traded publicly on the stock market.
Trump could try to exempt himself from the trading rule, but he still would be limited to only being able to sell “up to 1 percent of the outstanding shares every quarter.” He could try to get a loan from a bank to pay back the money from the company once he is able to sell, but that loan would likely be far less than he needs to post his bond.
Investors approved the merger Friday morning, which will put the company on the publicly traded NASDAQ under the ticker DJT. Trump will own at least 58% of the company, valued at about $3 billion. Trump is expected to become chairman of the board of the new entity.
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