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Trump Is in Line for a $3.5 Billion Windfall From Stake in Truth Social.

Authors :
Ramkumar, Amrith
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