SEC Clears Trump Social Media Deal
Securities and Exchange Commission approves merger of Trump’s media and technology company with a blank-check acquisition vehicle, valuing Truth Social’s parent company at $10 billion.This is a significant milestone for the company, which has faced numerous setbacks in its attempt to go public. The valuation is about half of Elon Musk’s popular social media company X, despite the limited user base and losses incurred by Truth Social.
However, the lower valuation can be attributed to the involvement of former U.S. President Donald Trump, who currently owns between 58.1% and 69.4% of the combined company. Trump’s involvement has attracted a significant number of investors, despite the company’s lackluster performance.
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Follow me on Truth-- Lynn Anderson @lynnanderson113. Also follow Donald Trump--
Donald J. Trump
@realDonaldTrump
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