Trump’s Truth Social Windfall Won’t Come In Time

Politico reports:

Donald Trump is on the verge of gaining what could be a massive windfall from his social media company. But it will likely come too late to save him from the financial peril he’s facing now. Investors on Friday are expected to sign off on a deal to allow Trump’s new venture, which operates Truth Social, to be publicly traded on Wall Street, clearing the way for a possible multibillion-dollar payday for the former president.

But Trump’s stake will be tied up for much of the year under a so-called lock-up agreement, a normal arrangement for such deals to ensure that insiders don’t bail as soon as a company goes public and push down the stock price. Trump could try to obtain a waiver from that rule, but even then he wouldn’t be able to sell more than a small fraction of his stake at any given time — up to 1 percent of the outstanding shares every quarter.

Read the full article.

Why Trump’s big Wall Street payday won’t bail him out of financial trouble https://t.co/Y6jTYKY2xO

— POLITICO (@politico) March 22, 2024