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136

Trump 'tried to sell Truth Social to Musk' as SPAC deal stalled (www.theregister.com)

submitted 8 months ago by ZeroCool@beehaw.org to c/technology@beehaw.org

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[–] avidamoeba@lemmy.ca 54 points 8 months ago (2 children)

Either way, Trump's Truth Social woes and finances might be getting a reprieve soon. The SEC approved the deal last month, which could be worth up to $10 billion. Trump, who would hold more than half the shares of the combined company, would reportedly stand to raise his net worth by some $4 billion - more than enough to handle those legal problems without Musk's help.

What the fuck.

[–] Neato@ttrpg.network 50 points 8 months ago

Feb 15 (Reuters) - The U.S. Securities and Exchange Commission allowed Donald Trump's media and technology company to merge with a blank-check acquisition vehicle in a deal that currently values the parent of his social media app Truth Social at as much as $10 billion.

So someone is essentially gifting Trump billions for a "merger".

[–] SnotFlickerman@lemmy.blahaj.zone 31 points 8 months ago

'MURICA, land of the endless access to money for the already-rich and politically connected.