Trump’s finances are under pressure as he prepares to contest the US presidency with incumbent Joe Biden for a second time.Trump’s finances are under pressure as he prepares to contest the US presidency with incumbent Joe Biden for a second time.Donald Trump’s wealth is set to increase by more than $3bn if a shareholder vote on Friday paves the way for the float of his
The Spac, called Digital World Acquisition, has scheduled a vote on the merger with Trump Media for Friday. However, there are complications around the planned vote after Digital World sued sponsor ARC Global Investments, which is trying to delay the deal, to back the merger. Trump’s finances are under pressure as he prepares to contest the US presidency with incumbent Joe Biden for a second time. Last month Trump was formally ordered by a New York judge tofollowing a civil fraud case, in which the former president was found to have manipulated the value of his properties to obtain advantageous loan and insurance rates.
Trump will own just under 79m shares in the newly listed company. Based on Digital World’s closing share price of $42.90 on Wednesday, the former president’s stake is worth about $3.4bn.