Truth Social Goes Public, Trump Poised for Billion-Dollar Windfall

Investors vote to take Donald Trump's Truth Social public, potentially netting the former president around $3 billion despite the platform's financial losses.

Truth Social, Donald Trump's social media platform, voted to go public with a valuation potentially netting Trump $3 billion.
Despite collecting only $3.4 million in revenue and incurring $49 million in losses in the first nine months of 2023, Truth Social's valuation soars.
The merger with Digital World Acquisition Corp (DWAC) faces scrutiny over pre-arranged acquisition deals, settling an SEC case for $18 million.
Investors show support for Trump, drawing comparisons to meme stock phenomena, despite the financial performance of Truth Social.
Trump's potential use of the public company's proceeds to cover a $500-million court judgment remains uncertain due to a six-month share lockup period.