The parent company of Truth Social, Donald Trump’s much-anticipated social media venture, made its debut on the stock market.
-
Truth Social’s parent company debuts on stock market with a market value of approximately $6.8 billion.
-
Shares of Donald Trump’s social media venture jump by around 30% on their inaugural trading day.
-
Decision on when Trump can access his estimated $5 billion stake rests with the board, comprising his son and former cabinet members.
This long-awaited milestone was met with fervor from investors, with shares of Truth Social‘s parent company soaring by approximately 30% on their first day of trading.
The surge in stock price not only reflects investor optimism surrounding the platform but also marks a significant uptick in Trump’s personal wealth, given his substantial stake in the company, estimated to be around $5 billion.
However, the pressing question remains: when will Trump be able to capitalise on his sizable investment in Truth Social. The answer lies in the hands of the board of directors of Truth Social’s parent company.
Comprising a notable lineup, including Trump’s own son, three former members of his administration, and a former congressman deeply involved in defending the former president during his first impeachment trial, this board holds the authority to determine the timing of Trump’s access to his stake.
