Published March 24, 2024
- Trump Media’s social media app could be valued at more than $5 billion.
- Investors in Digital World Acquisition Corp. approved a merger deal with Trump’s company.
- Despite the potential windfall, Truth Social is facing mounting losses.
Donald Trump’s social media platform is losing money, but it could still be valued at over $5 billion.
Former President Trump’s Truth Social is set to become part of a publicly traded company after a long-delayed merger was approved.
On Friday, a shell company created solely to buy Truth Social’s parent company, Trump Media & Technology Group, approved the merger, The Associated Press reported.
The merger could be worth around $5.7 billion and a timely $3 billion boost for Trump as he faces mounting legal costs and penalties.
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SOURCE: www.businessinsider.com
RELATED: Experts Say Seizing Trump’s Assets Won’t Be Easy for Letitia James
Published March 24, 2024
The Monday deadline for former President Trump to pay his $464 million bond or risk having his assets seized in the corrupt city of New York ticks.
However, reports admit that it won’t be as easy as New York Attorney General Letitia James just showing up and expecting the former president to hand over the keys to his properties.
According to New York real estate attorneys, the process of taking over an individual’s assets is slow and taxing when the properties are comprised of several different ownership and titles, mortgages, and co-ownership claims.
James’ is subject to run into several different obstacles when acquiring the properties from Trump should he miss the deadline to pay the multi-million dollar bond.
The same problem that Trump says he faces raising a bond against his properties is the same problem that James could find in liquefying his assets to satisfy the punishment brought in after she won a fraud trial against Trump’s real estate empire.
“Bonds people do not like to use the property as collateral because it’s hard to liquify the asset if there’s a default,” said Adam Leitman Bailey, a real estate attorney, “and for the attorney general, this isn’t so easy either. It’s going to be very difficult to seize his properties. It takes a lot of work.”
First off James’s office is likely to send out a letter of garnishment to every bank in New York and the US requiring them to freeze Trump’s bank accounts and to deliver the cash, bonds, or possessions held in security deposit boxes to her office in New York.
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SOURCE: www.townhall.com
RELATED: Trump has hours to cover $454 million judgment or risk property seizure
