NewsStock market deal for the rescue of Donald Trump?

Stock market deal for the rescue of Donald Trump?

A $464 million fraud fine is a very big deal, even for someone as wealthy as the former President of the United States. It appears, though, that Donald Trump has a plan to pay off those interests and even perhaps save some money for his new, way too big suit.

PALM BEACH, FLORIDA - MARCH 19: Former U.S. President Donald Trump and former first lady Melania Trump stand together as they speak with the media after voting at a polling station setup in the Morton and Barbara Mandel Recreation Center on March 19, 2024, in Palm Beach, Florida. Trump, along with other registered Republican voters, cast ballots in the Presidential Preference Primary. There wasn't a ballot or election for Democrats since the Florida Democratic Party only provided the name of Joseph R. Biden Jr. (Photo by Joe Raedle/Getty Images)
PALM BEACH, FLORIDA - MARCH 19: Former U.S. President Donald Trump and former first lady Melania Trump stand together as they speak with the media after voting at a polling station setup in the Morton and Barbara Mandel Recreation Center on March 19, 2024, in Palm Beach, Florida. Trump, along with other registered Republican voters, cast ballots in the Presidential Preference Primary. There wasn't a ballot or election for Democrats since the Florida Democratic Party only provided the name of Joseph R. Biden Jr. (Photo by Joe Raedle/Getty Images)
Images source: © GETTY | Joe Raedle

3:01 PM EDT, March 24, 2024

What is happening right now is quite comlicated. Donald Trump is travelling across the country with his presidential campaign winning nomination over Nikki Haley, who was taking part in the race for a surprisingly long time. At the same time Trump is struggling with several lawsuits and severe cost of his lost ones. One of which could ruin him financially. But it turns out that the shareholders of Digital World Acquisition Corp media company is coming to his rescue.

On Friday, the shareholders of Digital World Acquisition Corp voted positevely on aqusition of Truth Social media platform which is a part of Trump Media. BBC News reports that: "Mr Trump is due to have a stake of at least 58% in the merged company, worth nearly $3bn at Digital World's current share prices." Which means that, if the aqusition actually happens, Donald Trump could have enough money to pay off his debt.

There are several issues though. The market seems not to be liking Donald Trump's media so much. After the decision of the aqusition the stock shares of Digital World Acquisition Corp dropped by 13%. The enthusiasts of the deal try to convince the public that it is actually a good idea and 'there is no reason to freak out' (quote after BBC News).

What is going to happen next? No one really knows as it's often the case when it comes to Donald Trump's plans. Follow our coverage of the presidential campaign on: essanews.com

Sources: BBC News

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