Former United States President Donald Trump is currently facing a very grim financial situation after he was hit with a $464 million judgment in a civil fraud cause as it was determined that he fraudulently inflated the value of his assets – including his prestigious golf courses – to receive more favorable loan and insurance rates. The judgment could ultimately cost Trump his golf courses and other properties, but he may have just got a lifeline.
Donald Trump has been unable to receive a bond that would cover the $464 million judgment while he appeals and was at risk of either having his golf courses seized or being forced to sell them at what he has described as “fire sale prices.” But according to a report from Julia Shapero of The Hill, he just struck a deal that could net him about $3.5 billion as his Truth Social has officially merged with Digital World Acquisition Corp.
“The long-delayed merger between the blank check company and Trump Media & Technology Group (TMTG) received regulatory approval from the Securities and Exchange Commission (SEC) last month,” Shapero wrote for The Hill on Friday.
“Trump stands to make about $3.5 billion from the deal, given the nearly 79 million shares he would control in the newly merged company.”
It’s worth noting that this won’t immediately solve all of Trump’s problems as he won’t be able to immediately access the money, due to a provision that prevents insiders from selling new shares for six months. But it could help him receive a bond to cover the $464 million.
Regardless, this is some pretty incredible news for Trump when he hasn’t had much the past few days, and it led to a lot of reactions on social media.
Through it all he keeps winning. #Trump2024 https://t.co/IElw5MKWzK
— Conservative News Feed (@C_N_F__on__X) March 22, 2024
Congratulations Donald Trump 👏👏 https://t.co/7tc0eth8OC
— John Yost (@YostHager) March 22, 2024
Can he now borrow against his stock holdings to raise the money to pay his fines?
— James McKay (@JamesMc34809940) March 22, 2024
Trump can't sell any stocks for 6 months. So, not sure how this is going to save him.
— Phish Guy (@guy_phish) March 22, 2024
Great. Time for Trump two cough up the millions.
— Alex Herrald (@alexherrald) March 22, 2024
The Hill fails to mention the profit from this merger, more than covering Trump's politically motivated levies against him.
— burrt (@burrttt) March 22, 2024
We’ll have to see whether or not this helps Trump keep his golf courses.
[The Hill]
