Donald Trump's social media platform, Truth Social, could soon make the former a president a lot of money – at least on paper – after investors on Friday agreed it could go public.
The billionaire could use the extra wealth, as he will soon need to pay hundreds of millions of dollars in legal fees and fines.
Shareholders of Digital World Acquisition Corporation, a publicly traded shell company, approved a deal to merge with Mr Trump's media business.
That means Trump Media and Technology Group, whose flagship product is Truth Social, will soon begin trading on the Nasdaq stock market.
Here are some things to know about Mr Trump's social media platform:
What is Truth Social?
After Mr Trump was kicked off Facebook, Twitter (now X) and other social media platforms in the wake of the January 6, 2021 attack on the US Capitol, he set up Truth Social.
The platform looks a lot like Twitter did at the time, but instead of retweeting, users “re-Truth” posts.
Mr Trump has now been reinstated on X and Facebook but has largely stayed away from the competitors, preferring instead to communicate to his loyal base on his own platform.
Truth Social is primarily used by conservative outlets and commentators, and response to Mr Trump's own posts is always positive – and usually in meme form.
He has 6.7 million followers on Truth Social but 87.7 million on his X account.
Mr Trump's posts often feature angry-looking capital letters and he frequently fires off his “Truths” in bold, incendiary language.
In one such message on Friday, he called a New York judge a political “hack” and repeated the debunked claim that he had won the 2016 election.
How much money could Trump make?
Mr Trump could receive a sizeable payout when Truth Social goes public.
He would own most of the combined company – or nearly 79 million shares. Multiply that by Digital World’s closing stock price on Thursday of $42.81, and the total value of Mr Trump's stake could surpass $3 billion, though the shares did fall nearly 7 per cent after the merger approval was disclosed.
The deal arrives as the presumptive Republican presidential nominee is facing his most costly legal battle to date: he is on the hook for $454 million following a judgment in a fraud lawsuit.
But Mr Trump will not be able to immediately cash out his windfall due to a “lock-up” provision that prevents company insiders from selling newly issued shares for six months.
Mr Trump’s earlier foray into the stock market did not end well.
Trump Hotels and Casino Resorts went public in 1995 under the symbol DJT – the same symbol Trump Media will trade under.
By 2004, Mr Trump’s casino company had filed for bankruptcy protection and was delisted from the New York Stock Exchange.
A look at former president Donald Trump's Truth Social feed – in pictures
Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
The cost of Covid testing around the world
Egypt
Dh514 for citizens; Dh865 for tourists
Information can be found through VFS Global.
Jordan
Dh212
Centres include the Speciality Hospital, which now offers drive-through testing.
Cambodia
Dh478
Travel tests are managed by the Ministry of Health and National Institute of Public Health.
Zanzibar
AED 295
Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.
Abu Dhabi
Dh85
Abu Dhabi’s Seha has test centres throughout the UAE.
UK
From Dh400
Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.
UAE currency: the story behind the money in your pockets
PREMIER LEAGUE FIXTURES
All kick-off times UAE ( 4 GMT)
Saturday
Liverpool v Manchester United - 3.30pm
Burnley v West Ham United - 6pm
Crystal Palace v Chelsea - 6pm
Manchester City v Stoke City - 6pm
Swansea City v Huddersfield Town - 6pm
Tottenham Hotspur v Bournemouth - 6pm
Watford v Arsenal - 8.30pm
Sunday
Brighton and Hove Albion v Everton - 4.30pm
Southampton v Newcastle United - 7pm
Monday
Leicester City v West Bromwich Albion - 11pm
SPECS%3A%20Polestar%203
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ELong-range%20dual%20motor%20with%20400V%20battery%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E360kW%20%2F%20483bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E840Nm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20automatic%3Cbr%3E%3Cstrong%3EMax%20touring%20range%3A%3C%2Fstrong%3E%20628km%3Cbr%3E%3Cstrong%3E0-100km%2Fh%3A%3C%2Fstrong%3E%204.7sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20210kph%20%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh360%2C000%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ESeptember%3Cbr%3E%3C%2Fp%3E%0A
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
england euro squad
Goalkeepers: Dean Henderson (Man Utd), Sam Johnstone (West Brom), Jordan Pickford (Everton)
Defenders: John Stones (Man City), Luke Shaw (Man Utd), Harry Maguire (Man Utd), Trent Alexander-Arnold (Liverpool), Kyle Walker (Man City), Tyrone Mings (Aston Villa), Reece James (Chelsea), Conor Coady (Wolves), Ben Chilwell (Chelsea), Kieran Trippier (Atletico Madrid)
Midfielders: Mason Mount (Chelsea), Declan Rice (West Ham), Jordan Henderson (Liverpool), Jude Bellingham (Borussia Dortmund), Kalvin Phillips (Leeds)
Forwards: Harry Kane (Tottenham), Marcus Rashford (Man Utd), Raheem Sterling (Man City), Dominic Calvert-Lewin (Everton), Phil Foden (Man City), Jack Grealish (Aston Villa), Jadon Sancho (Borussia Dortmund), Bukayo Saka (Arsenal)
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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