Donald Trump is on the verge of another $1 billion Truth Social windfall
CNN
Former President Donald Trump is on the cusp of scoring a major financial bonanza – at least on paper.
Former President Donald Trump is on the cusp of scoring a major financial bonanza – at least on paper. As long as Trump Media & Technology Group’s share price doesn’t spectacularly implode before Tuesday’s closing bell, Trump is on track to receive another 36 million shares as the owner of Truth Social. This milestone is on track to be hit after the market closes on Tuesday. Even though Trump Media is losing money and Truth Social is very tiny, those new shares Trump is in line to receive would be valued at about $1.3 billion at current prices. Trump’s net worth has been on a roller coaster ride ever since his social media company finalized its deal to go public late last month. The former president is the dominant shareholder in a stock that has been called a “meme stock on steroids.” Although Trump Media’s share price has been cut in half since peaking on March 27, it’s still trading comfortably above levels that would trigger certain performance provisions in the merger agreement.
Earlier this year, an 18-year-old high school senior from New York City had planned to enroll at Columbia University’s sister school Barnard College in Manhattan as an early decision student. But after her parents saw heightened tensions over the Israel-Gaza conflict surface across some US campuses, including at Barnard and Columbia, they went back to her list.