Staff Reports
It appears President Donald Trump has received some favorable news! Delaware Chancery Court Judge Sam Glasscock III has granted approval for a shareholder vote on a merger involving Trump Media & Technology Group, a move that could result in a substantial $4 billion gain for the former president. Despite objections from Trump Media co-founders Andy Litinsky and Wes Moss, who expressed concerns about a potential reduction in Trump's ownership stake, the court has decided to proceed with the vote.
Litinsky and Moss, both former contestants on Trump's television show The Apprentice, had initially partnered with him to establish Trump Media. However, their reservations regarding the merger have been overridden, clearing the path for Trump to potentially reap significant financial rewards.
"There is great financial news for Donald Trump."
JUST IN: President Trump Stands to Gain Up to $4 Billion from Recent Court Decision https://t.co/0N5mg0cvSu
— Kyle Becker (@kylenabecker) March 10, 2024
However, Trump faces opposition from adversaries such as Patrick Orlando's ARC Global Investments II, who are contesting the conversion rate for their interests in the merger, seeking a larger share of the combined entity's assets.
Despite these challenges, Trump Media appears poised for a prosperous future, particularly in light of recent setbacks encountered by Trump's Truth Social venture. Following a substantial $350 million damages ruling in a New York civil case and imposed restrictions on Trump's corporate activities in the state, a financial success would undoubtedly be welcomed.
With potential plans to take Truth Social public, Trump stands to see his stake in the platform skyrocket to an impressive $4 billion. Despite ongoing legal battles and media scrutiny, President Trump continues to demonstrate his influence and resilience in the business world.
