(TheConservativeTimes.org) – Investors have approved a motion to make Donald Trump’s social media platform, called Truth Social, public, which would net the former president billions. The firm behind Truth Social, named Trump Media and Technology, has struggled to get it public, and they’ve pushed for years now to get the social media platform in the hands of people.
With this, Donald Trump has succeeded by getting a vote from shareholders in the Digital World Acquisition. This would help to skyrocket the value of Truth Social into the billions. After everything, Trump will walk away with about three billion in stake, however, he will not be able to have those funds immediately.
This increase in funds could come at a pretty crucial time for Trump when it comes to finances. Donald Trump is facing criminal allegations and has been ordered by a judge to pay out hundreds of millions of dollars because of a civil fraud case. The former president spoke out to the judge telling them that getting this amount of money or a bond from someone at this amount was “nearly impossible” even with his status.
Many people in the technology world spoke out about this transition and the future of the former president’s technology company. Accelerate Technologies’s Julian Klymochko said, “Truth Social hasn’t really taken off. At this point, it’s a meme stock. It’s just a betting tool on the probability of Trump winning the election.”
Many have spoken about the correlation between shares in Digital World and results from the presidential race saying that when the race was in Trump’s favor, the shares and stocks would rise for Digital World.
The future of the technology company is unknown, especially with the controversy circling Trump’s intentions.
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