2023-08-25 16:21:35
© Reuters. Fulton County Sheriff’s Office/Reuters
(Reuters) – Shares in Digital World, which has agreed to merge with Donald Trump’s media company, fell as much as 5% on Friday after the former U.S. president returned to social media platform X .
On Thursday, Trump marked his return to X, formerly known as Twitter, after more than two and a half years on the sidelines, with the publication of a photo of his booking at the Fulton County jail in Georgia, and a call for donations. .
Trump, who is a billionaire, had said he would stick exclusively to his new Truth Social platform, the app developed by his startup Trump Media & Technology Group (TMTG), after it was banned by Twitter following the Capitol attack on Sept. January 2021.
The former president had more than 88 million followers on Twitter before he was deleted from the social network, up from 6.39 million followers on Truth Social as of Friday.
The ban was overturned by billionaire Elon Musk in November after he bought Twitter. Trump had said in November that he had no interest in returning to the social network.
In October 2021, Digital World, a special purpose acquisition company, agreed to merge with Truth Social for $1.3 billion.
The deal, however, faced investigation for months and Digital World settled fraud allegations with the US financial markets watchdog SEC earlier this year, which delayed completion of the transaction.
Earlier this month, Digital World pushed back the deadline for the merger by more than three months, to December 31st.
The company also received a letter from the exchange on Thursday stating that it did not comply with one of the exchange’s listing rules.
(Por Chavi Mehta)
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