cross-posted from: https://lemmy.ml/post/13470219

Trump Is in Line for a $3.5 Billion Windfall From Stake in Truth Social

If the SPAC is approved this week, he could potentially use the stock as collateral to get a bond and avoid having properties seized or declaring bankruptcy by next week’s deadline.

  • OldWoodFrame@lemm.ee
    15·
    7 months ago

    That values Truth Social at $6 billion. Reddit’s IPO valued it at $6.4 billion.

    Even if $6B is what is implied by whatever is happening, you need a buyer who is willing to pay Trump that valuation 6 months after the acquisition. Just no way it can stand up to that valuation, it does not have the users for it. 2 million active users to Reddits 500 million.