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Trump Is in Line for a $3.5 Billion Windfall From Stake in Truth Social.
- Source :
-
Wall Street Journal - Online Edition . 3/21/2024, pN.PAG-N.PAG. 1p. - Publication Year :
- 2024
-
Abstract
- Donald Trump's supporters are driving up the value of his social-media platform, Truth Social, in an effort to give him a $3.5 billion windfall. The platform, which was created by Trump after he was banned from major social-media platforms, has struggled to gain users and generate revenue. However, the shell company taking Truth Social public has become a meme stock, with Trump's supporters pushing up the stock price to value the platform at $6 billion. The deal still needs to be approved by shareholders, but if it goes through, Trump's windfall could help ease his financial pressure and boost his political campaign. [Extracted from the article]
Details
- Language :
- English
- Database :
- Academic Search Index
- Journal :
- Wall Street Journal - Online Edition
- Publication Type :
- News
- Accession number :
- 176146853