Why Donald Trump Can’t Sell His Truth Social Shares Even After It Goes Public

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Forbes

Business News, News, Entrepreneurship, Business

4.8 • 6 Ratings

🗓️ 28 March 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Donald Trump is on the cusp of adding billions of dollars to his balance sheet after shareholders of Digital World Acquisition Corp. voted on Friday to merge with his Trump Media & Technology Group. But not only won’t the expected $2.9 billion windfall not help him pay his fines, it won’t even help him secure a bond to cover those fines while he appeals. Forbes staff writer Zach Everson joins Brittany Lewis on 'Forbes Talks' to discuss. Read the full story on Forbes: https://www.forbes.com/sites/zacheverson/2024/03/23/why-trump-cant-pledge-his-truth-social-shares-even-after-it-goes-public/ Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes: http://forbes.com Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi everybody I'm Brittany Lewis with Forbes breaking news.
0:05.3	Joining me now is my colleague Forbes staff writer Zack Everson.
0:08.5	Zach, thanks so much for joining me.
0:10.0	Thanks for having me Brittany.
0:11.6	As you and I have been talking about now for months Thanks for
0:14.2	me Brittany. As you and I have been talking about now for months, former President Donald
0:16.3	Trump is facing a cash crunch after his mounting legal issues and money from
0:20.9	truth social going public isn't expected to
0:23.1	imminently help but before we dive into that conversation can you walk us back
0:27.4	tell us why he owes so much money?
0:30.1	He's in a lot of trouble. He's in a lot of trouble.
0:33.0	A lot of legal problems going on there.
0:35.0	And he's also, you know, heavily leveraged in some areas as well.
0:38.0	He was fine to combine 88 million dollars in two suits where he was found liable brought by Eiching
0:44.3	Carroll he was also fined I think it's like 455 million accounting by New York
0:50.1	State in the civil fraud trial after he was being found liable there.
0:54.0	And then I wrote about last week, he's got 120 million dollar mortgage coming to on 40 Wall
1:00.6	Street coming through in 2025. So he's gonna, even after he gets these legal problems,
1:05.6	he's still gonna be facing some mortgages
1:07.8	that he's gotta deal with.
1:09.3	But it does sound like there is a bright spot
1:11.8	for the former president financially.
	...

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