Donald Trump may be about to get $3 billion richer. But that likely won’t solve his cash crunch
CNN
Former President Donald Trump is on the verge of a multi-billion dollar windfall coming at a time when he’s facing immense financial and legal pressure.
Former President Donald Trump is on the verge of a multi-billion dollar windfall at a time when he’s facing immense financial and legal pressure. Trump Media & Technology Group, the owner of Trump’s struggling social media platform Truth Social, is on the cusp of going public as soon as next week following years of legal and regulatory obstacles. If shareholders vote on Friday to approve Trump Media’s merger with a blank-check company, Trump will own a dominant stake in a public company, with shares worth more than $3 billion at current market prices. However, experts tell CNN there are numerous practical, financial and legal reasons why this deal – even if it gets approved – is unlikely to solve Trump’s imminent cash crunch. “President Trump won’t be able to monetize that stake right away,” said Matthew Kennedy, senior initial public offering market strategist at Renaissance Capital. Trump faces a Monday deadline to post a $464 million bond in New York’s civil fraud case against him or New York’s attorney general could try to seize his golf course and private estate north of Manhattan – or other assets.
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