WINNING: Trump To Gain Up to $4 Billion from Recent Court Decision

OPINION:  This article contains commentary which may reflect the author’s opinion

For Donald Trump, the financial news is excellent.

Judge Sam Glasscock III of Delaware Chancery Court has decided not to stay the March 22 shareholder vote on a merger involving Trump Media & Technology Group, which may net President Trump $4 billion.

Wes Moss and Andy Litinsky, the co-founders of Trump Media, objected to the court’s ruling, arguing that it would diminish Trump’s 8.6% stake in the company. Former rivals on Trump’s television program The Apprentice, Litinsky and Moss later worked with him to establish Trump Media.

Before the vote on March 22, Glasscock declined to set up a hearing on the merger that is being contested. In a Zoom call, he said, “Maybe the whole thing will go away” if Trump consents to put the additional shares in an escrow account while the dispute is ongoing.

In response to a separate complaint filed by Patrick Orlando’s ARC Global Investments II, officials at Digital World Acquisition Corp., the blank-check company that will conduct the vote, have already consented to place the contested stock in escrow, according to Bloomberg.

ARC argued for a larger portion in the combined company and rejected the proposed conversion rate for its founder’s equity. The complaint was filed by Orlando, the former CEO of Digital World.

Citing the escrow arrangement, Chancery judge Lori Will recently rejected a motion to expedite the proceedings.

The possible financial benefit of the media merger for Donald Trump was previously covered by CNN.

The corporate venture follows an unusual New York legal lawsuit that awarded the former president damages of $350 million.

Donald Trump was prohibited from acting as an officer or director of any New York business or other legal organization in New York for a period of three years after Judge Arthur Engoron ordered in February that he must pay the enormous amount.

Though Truth Social, a Trump venture, faces several challenges, if it “goes public,” it has a bright future. The platform’s worth has decreased to less than $100 million from its peak of over $700 million in 2022.

In the event that it occurs, Trump could own an astounding $4 billion more shares in Truth Social.


Leave a Reply

Your email address will not be published.






Send this to a friend