Trump Media Goes Public with $9 Billion Valuation, as Experts Warn Average Investors of High Risk and Volatility from group ru Watch Video

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✓ Published: 27-Mar-2024
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Trump Media & Technology Group, the owner of Truth Social, went public under the ticker \

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Trump Media & Technology Group, the owner of Truth Social, went public under the ticker \
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Trump's net worth has reportedly increased by over $4 billion recently, bringing his total worth to approximately $6.5 billion. The increase is due to a merger between Trump's social media company, Trump Media & Technology Group, and a shell company called Digital World Acquisition Corp. As a result of the merger, Trump owns nearly 80 million shares, or around 58%, of Trump Media, which operates the social media platform Truth Social. At DWAC's closing stock price of $49.95 per share on Monday, Trump's holdings in the company are worth around $4 billion.
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Donald Trump's Truth Social is set to become part of a publicly traded company after its parent company's merger was approved. The merger values Trump Media & Technology Group, Truth Social's parent company, at around $5.7 billion. However, Truth Social has only about 5 million active monthly users compared to platforms like Facebook and TikTok, which have more than 3 billion and 350 million active monthly users worldwide, respectively. Truth Social will continue losing money \
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Home Depot is acquiring specialty distributor SRS Distribution for $18.25 billion to grow its professional customer sales. SRS sells supplies to landscaping, pool, and roofing professionals through 760 branches across 47 US states. The deal adds SRS' 11,000 employees and 4,000 truck fleet to Home Depot's offerings for contractor customers. Home Depot aims to attract over half its business from professional customers undertaking major projects. Recent acquisitions like HD Supply and International Designs Group also target the professional segment.
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Trump Media & Technology Group, which operates the Truth Social platform, will begin trading on the Nasdaq stock exchange on March 26th under the ticker symbol \
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in an amendment to a lawsuit first filed in February against scandal-hit Sean ‘Diddy’ Combs, Cuba Gooding Jr is being accused of sexually assaulting one of the rapper’s former employees.
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Shares of Trump Media & Technology Group surged by 59% on their first trading day on Wall Street, closing with a market capitalization of nearly $8 billion. Despite an operating loss of $10.6 million in the first nine months of 2023, the company's impressive debut followed a merger with Digital World Acquisition. Trump, who owns about 60% of the company, now sees his stake valued at roughly $4.6 billion. The platform, Truth Social, was launched by Trump after mainstream social media bans after the January 6 Capitol riot. The surge in stock value arrives as Trump, running again in the 2024 Presidential election, faces substantial legal challenges, adding to his financial pressure.
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