Former President Donald Trump soon might get a virtual last laugh against the attempt to bankrupt him with fines and other lawfare.
The Wall Street Journal reported Wednesday that he is in line for a nearly $3.5 billion windfall if his Truth Social social media platform goes public.
Leftist prosecutors, of course, have been attempting to use their power to destroy Trump’s financial empire ahead of their eventual goal of putting him in jail.
New York Attorney General Letitia James, for instance, won a $454 million civil fraud judgment against him and is threatening to take possession of his Trump Tower property in New York City if he doesn’t pay up.
With Trump saying he is unable to obtain a bond large enough to cover the amount of the judgment, James is narrowing in on her threat.
The goal is not to serve justice, but to utterly destroy a former president and current presidential candidate, and all purely for political reasons.
But even as all this is swirling around Trump’s head, he just might come up roses, at least as far as his social media venture is concerned.
According to the Journal, he could reap a huge windfall if his social media platform is approved to be listed on the stock market.
Trump launched the Truth Social app in 2021 after the left-wing cabal running Twitter, Facebook, Instagram and the like quashed his accounts or banned him altogether.
Will Trump win in November?
The outrage that a man who was elected to the White House with the votes of nearly 63 million Americans in 2016 is being beset by political opponents who are trying to destroy his life to prevent him from being president again is making this country look like a banana republic to the entire world.
Still, Trump might soon realize a huge bump in his finances just as left-wing prosecutors are attempting to bleed him dry.
The Journal reported that Truth Social is preparing to combine with what is called a special-purpose acquisition company. The shareholders of Digital World Acquisition, the SPAC in question, are expected to approve the merger on Friday, and that could leave Truth Social open to be put on the market as soon as Monday.
DWA’s stock rose 18 percent to nearly $43 a share on Wednesday after the news, giving Truth Social a valuation of about $6 billion. Trump owns about 60 percent of that company.
“There seems to be an unwritten agreement between tens of thousands of traders that the more political momentum Trump has, the more the stock should trade higher,” Julian Klymochko, who manages a different SPAC group, told the Journal. “It’s more of a political statement and a quasi betting tool on the election.”
The ultimate payoff for the former president is still undetermined, and even the vote on Friday is not a lock. But, if it all goes his way, the timing could not be better.
The former president still would be required to hold the stock for six months before selling, but he also could file for a waiver to sell his Truth Social stock earlier.
CNN analyzes Trump’s Truth Social merger
“How much would Trump’s shares be worth if it does in fact go public? It could be upwards of $4 billion. That’s billion with a B—not million with an M”
They’re trying to shut down his empire and he’s getting richer 🔥 pic.twitter.com/aHahi8FcgS
— johnny maga (@_johnnymaga) February 19, 2024
Trump has spent a lifetime in business staying one step ahead of the sorts of troubles that best other businessmen. He has fallen down and lifted himself back up time and again. And this ability to rise above what might crush other men is something that infuriates the left.
With this possible Truth Social deal, Trump might just rise above the ashes once again. And the left couldn’t be more unhappy about the prospect.
