Well, Donald Trump is poised to secure a substantial windfall.
Reports indicate that he's said to receive a stock bonus
worth $1.3 billion from the company behind his social media
app through social.
Our next report telling you more.
Take a look.
Donald Trump's legal fees may be rising,
but so is his personal wealth.
The former president on Tuesday was set to secure a
stock bonus worth $1.3 billion thanks to Trump Media and
Technology Group,
which operates his social media app Truth Social.
The award would take Trump's overall stake in the company
to $4.1 billion.
While Trump has agreed not to sell any of his
shares before September,
the windfall represents a significant boost to his wealth,
which Forbes pegs at $4.7 billion.
The bonus reflects the exuberant trading in Trump Media shares,
which have been on a roller coaster ride since the
company listed on the NASDAQ last month through a merger
with a special purpose acquisition company,
or SPAC. Many shares were snapped up by speculators and
those supporting the Republicans 2024 presidential bid against Democrat Joe
Biden.
Under the terms of the deal,
Trump is entitled to the stock bonus if the share
price stays above $17.50 for 20 trading days after the
company's debut.
The stock ended Monday's session at slightly more than double
that price,
making it likely that Trump will secure the bonus at
Tuesdays market close.
Elseg data shows that Trump Media,
which disclosed millions of dollars in losses earlier this month,
has the highest valuation multiple compared to U.S.
companies with a similar market cap.
The high valuation also comes despite the company warning investors
in regulatory filings that its operational losses raise quote.
Substantial doubt about its ability to remain in business.