Shareholders of Digital World Acquisition Corporation (DWAC) approved a merger with Donald Trump’s media company Truth Social on Friday, setting the stage of an Initial Public Offering (IPO) of the social media network.

With the approved merger, President Donald Trump’s social media platform Truth Social is now preparing to go public on the stock market at a current valuation of $6 billion. President Trump owns about 60% of Truth Social, ultimately the IPO could net him a possible $3.5 billion gain in net worth – at least on paper.

MEDIAITE –  […] Trump Media & Technology Group will now trade on the stock market under DJT.

The New York Times reported that the deal will put $300 million into Trump’s media company, giving a cash infusion to keep Truth Social running. The merger also means that the stock market price for Trump’s media company will reportedly be $5 billion, giving Trump a personal stake of $3 billion. That wealth on paper may not help the former president in covering the bond though.

The Times first reported the merger:

Based on Digital World’s stock price of $44 a share just before the vote announcement, Trump Media will debut with a market value of more than $5 billion. That means Mr. Trump’s personal stake will be worth more than $3 billion.

Shares of Trump Media could begin trading under the new stock symbol as soon as next week.

The deal’s approval comes as Mr. Trump is facing a Monday deadline to cover a $454 million penalty in a civil fraud case in New York. He is restricted for six months from selling any his shares or using them as collateral for a loan, although he could ask the board of the merged company to waive that rule for him. (read more)

Given the middle finger it represents, it is quite likely the large voter base of the MAGA movement will support DJT and purchase stock in the Trump venture.  That could push the value even higher and net an even larger financial outcome for President Trump.  We’ll have to wait and see.