The former US president will own a significant stake in the combined company, worth about $4 billion at current share prices. This means he will own more than 58% of the shares and more than 78 million shares. The news showed SPAC and DWAC shares initially rising 30% before closing with a 15% gain.
Despite its $7 billion valuation, Truth Social has a relatively small user base of under 1 million. This calls into question its long-term sustainability, especially since Trump’s messages can be easily found on other platforms.
Source: Ferra
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