Similar Stories to Why Truth Social Going Public Won't Save Trump From Disaster on Bing News

So Trump is on the verge of gaining what could theoretically be a massive windfall from his social media company. But it will likely come too late to save him from the financial peril he’s facing now. Via Politico: Investors on Friday are expected to sign off on a deal to allow Trump’s new venture, which operates Truth Social, to be publicly traded on Wall Street, clearing the way for a possible multibillion-dollar payday for the former president. But Trump’s stake will be tied up for much of the year under a so-called lock-up agreement, a normal arrangement for such deals to ensure that insiders don’t bail as soon as a company goes public and push down the stock price. Trump could try to obtain a waiver from that rule, but even then he wouldn’t be able to sell more than a small fraction of his stake at any given time — up to 1 percent of the outstanding shares every quarter.

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