Stay Curious. Stay Connected.
MailNewsletters♡Donate Now
Sign up
*Password must be at least 8 characters and contain one uppercase letter, one lowercase letter, one number and one symbol.
Already have an account?
By submitting, you consent that you are at least 18 years of age and to receive information about MPR's or APMG entities' programs and offerings. The personally identifying information you provide will not be sold, shared, or used for purposes other than to communicate with you about MPR, APMG entities, and its sponsors. You may opt-out at any time clicking the unsubscribe link at the bottom of any email communication. View our Privacy Policy.
Sign in to your profile
Forgot Password?
New to MPR News?
Welcome back
to news
for you
Reset Password

Enter the username on file and we'll send you a code to reset your password.

Still require assistance or not sure what your User Name is?
Welcome back
to news
for you
Email Verification

A verification code has been emailed to

Still awaiting the code?
Business and Economic News
Rafael Nam, NPR

Truth Social will start trading on Tuesday. Trump stands to earn a fortune

Go Deeper.

Create an account or log in to save stories.

Like this?

Thanks for liking this story! We have added it to a list of your favorite stories.

Former President Trump's social media company is set to start trading in stock markets on Tuesday. He stands to earn billions of dollars.
Former President Trump's social media company is set to start trading in stock markets on Tuesday. He stands to earn billions of dollars.
Charly Triballeau | AFP via Getty Images

The company behind Donald Trump's social media app Truth Social will start trading on the Nasdaq exchange on Tuesday, potentially delivering a windfall of more than $3 billion to the former president.

Trump Media and Technology Group is set to become a public company after completing a merger with a listed shell company called Digital World Acquisition Corporation (DWAC), which was created to merge with the former president's company.

Trump Media will trade under the stock symbol DJT, short for Donald J. Trump.

The former president would own at least 58 percent of the merged company, a stake that could be worth billions of dollars at current market valuations.

The windfall comes as Trump is mired in a slew of legal cases. Earlier on Monday, a New York appeals court reduced the amount Trump must post as bond in his civil fraud case to $175 million from nearly half a million dollars — and gave him another 10 days to post it.

But Trump may not be able to sell his shares in Trump Media for another six months under his current agreement. He could, however, try to renegotiate his agreement or put up his stock holdings as collateral in exchange for a loan.

In a news conference on Monday, Trump lauded Truth Social's performance despite its poor financial health.

"Truth Social is doing very well," he said. "It's hot as a pistol and doing great."

In filings Truth Social has said it only had revenue of just over $3 million in the first nine months of last year and lost nearly $50 million during that period.

Copyright 2024 NPR. To see more, visit https://www.npr.org.