Some good news for Trump.
According to a new Forbes article, Trump’s new social media venture could be worth $10 billion dollars.
Over the course of 75 years, Donald Trump amassed a pile of assetsâ€”skyscrapers, hotels, golf courses and so onâ€”worth an estimated $2.5 billion, after subtracting debt. Then, in practically no time at all, he conjured up a new business, the Trump Media and Technology Group, which hasnâ€™t done much yet but plans to launch a social media company and various other ventures. Investors are already suggesting itâ€™s worth about $10 billion.
The people valuing Trumpâ€™s enterprise at this price are everyday stock pickers. They still canâ€™t purchase shares in the Trump Media and Technology Group, but they can buy stock in a pile of cashâ€”also known as a special purpose acquisition company, or SPACâ€”that plans to merge with Trumpâ€™s business. News of the merger sent shares in the SPAC soaring from about $10 to $60 apiece over the last four weeks.
If the stock remains at $60, the SPAC shareholders will be left with an estimated $2.2 billion interest in the combined company after the merger. Investors in 15 million warrants tied to the SPAC will be sitting on another $300 million. The current owners of Trumpâ€™s companyâ€”itâ€™s not yet clear what the former presidentâ€™s personal interest is in the businessâ€”will receive an estimated 86 million shares as part of the deal, worth $5.1 billion. And, assuming shares consistently stay above $30 over the course of about a month and a half after the merger, the owners of Trumpâ€™s group will receive an additional 40 million shares, worth $2.4 billion at todayâ€™s prices. In total, that all adds up to $10 billion.
The Palmieri Report is a Pro-America News Outlet founded by Jacob Palmieri. The Palmieri Report is dedicated to giving people the truth so that they can form their own informed political opinions. You can help us beat Big Tech by following us on GETTR , Telegram, and Rumble.