- Trump’s net worth just jumped billions after a Truth Social merger was approved on Friday.
- But he’s not allowed to sell in shares for six months, per an agreement in place.
- But a board made up of his son and close allies could alter the agreement.
A merger between former President Donald Trump’s social media app, Truth Social, and a shell company, Trump Media & Technology Group, was approved on Friday, immediately boosting Trump’s net worth by billions. Trump’s not allowed to sell or borrow against any of his shares for six months, but that could change if a board consisting of his allies and family members agrees on it.
According to a filing on the merger with the US Securities and Exchange Commission, “Founders Shares” cannot be transferred for “six months after the completion of Digital World’s initial business combination.”
While that could be an issue for Trump — he owes more than $457 million to the state of New York as part of his fraud trial judgement that he’s been unable to pay, leading him to beg his supporters for donations — he could gain access to some of his multibillion-dollar windfall if given a waiver by the company’s new board of directors.
Fortunately for Trump, the board consists of close allies like his son Donald Trump Jr.; former Rep. Devin Nunes; Linda McMahon, a major Republican fundraiser who served as Trump’s Small Business Administration head during his time in the White House; and Kash Patel, a former member of Trump’s National Security Council who published a children’s book about ‘Hillary Queenton’ and ‘handsome King Donald’.
If the board chooses to allow Trump to divest from the company sooner than initially agreed upon, it could be a massive boost to the former president as he continues to fight back against his slew of legal predicaments, which his PACs spent $52 million in donor money on in 2023 alone.
A 2023 Forbes analysis estimated his net worth to be $2.6 billion, though Bloomberg approximated months later that his liquid assets were substantially lower: around $600 million.
Forbes booted Trump from its list of wealthiest Americans in 2023, angering the former president, though it was partly based on Truth Social’s low value at the time.
