Trump in line for potential multi-million dollar windfall with Truth Social merger: Live updates
New York attorney general eyeing up Republican candidate’s Seven Springs estate, causing the politician to label her actions ‘sooo unconstitutional and unfair’ on Truth Social
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Donald Trump’s social media platform launched in the volatile aftermath of the January 6 attack on the US Capitol is headed for Wall Street.
Shareholders of his Truth Social platform have voted to take the company public, a move that could raise the former president’s net worth by tens of millions of dollars as he desperately tries to find cash for the court-ordered judgments against him.
This comes as New York Attorney General Letitia James has begun preparing the ground to seize Mr Trump’s assets in anticipation of his not being able to meet the $464m bond in his Big Apple fraud trial, the deadline for which falls on Monday.
It emerged on Thursday that Ms James registered the judgement from the months-long trial with the county clerk’s office in New York’s Westchester County on 7 March, suggesting she is taking steps towards repossessing the Republican presidential candidate’s Seven Springs estate and Trump National Golf Club in the area.
The presumptive Republican presidential nominee subsequently whined on Truth Social that her actions were “sooo unconstitutional and unfair” and would “leave an irreparable stain on New York state and its judicial system”.
Trump continues to complain about civil case brought by NY AG
On Friday morning, Mr Trump railed against the civil case against him brought by the New York attorney general, writing on Truth Social: “No trial, no jury, no crime, no victim, only a crooked judge and a corrupt, Trump-hating attorney general, who takes her orders directly from the White House. Election interference at a level never seen before!!!”
Gustaf Kilander22 March 2024 15:00
Trump’s Truth Social is headed for Wall Street in merger that could reap billions
Donald Trump’s social media platform launched in the volatile aftermath of the January 6 attack on the US Capitol is headed for Wall Street.
Shareholders of his Truth Social platform have voted to take the company public, a move that could raise the former president’s net worth by tens of millions of dollars as he desperately tries to find cash for the court-ordered judgments against him.
Mr Trump will need to find money from his own coffers or get help from a surety company to post an appeals bond by Monday that would block enforcement of a $454m penalty after a New York judge found that he defrauded banks and insurers.
His attorneys are asking a state appeals court to pause the judgment against him while he appeals without having to fork over tens of millions of dollars, which they called a “practical impossibility,” with rejections from roughly 30 bond companies who won’t take his prized real estate empire as collateral.
The debut of Truth Social’s parent company Trump Media & Technology Group could be a massive boost to the former president’s financial state – he could rake in more than $3bn from his investment.
But he won’t see any immediate return.
On Friday, after delays from investigations from regulators and the US Department of Justice, Truth Social shareholders approved a merger between Trump Media and publicly traded shell company Digital World Acquisition Corporation.
READ MORE
Alex Woodward22 March 2024 14:42
Trump says he has ‘almost’ $500m in cash ‘through hard work, talent, and luck’
Early on Friday, Mr Trump claimed to have “almost” $500m in cash “through hard work, talent, and luck”.
In an all-caps rant on Truth Social, he said he intended to use a “substantial” part of it for his presidential campaign.
He again rejected all wrongdoing in the civil case brought by the New York attorney general in which he was ordered to pay a $454m bond.
Mr Trump claimed that the judge and the attorney general “knew” that he planned to use the money for the campaign and that they “wanted to take it away from me”.
THAT’S WHERE AND WHY HE CAME UP WITH THE SHOCKING NUMBER WHICH, COUPLED WITH HIS CRAZY INTEREST DEMAND, IS APPROXIMATELY $454,000,000. I DID NOTHING WRONG EXCEPT WIN AN ELECTION IN 2016 THAT I WASN’T EXPECTED TO WIN, DID EVEN BETTER IN 2020, AND NOW LEAD, BY A LOT, IN 2024. THIS IS COMMUNISM IN AMERICA!
Donald Trump
Gustaf Kilander22 March 2024 14:30
Biden campaign taunts ‘Broke Don’ over fundraising deficit
This is pretty brutal from Biden campaign communications director Michael Tyler, who said in a statement yesterday after his side reported more than double the February takings in donations of his Republican rival:
“If Donald Trump put up these kinds of numbers on The Apprentice, he’d fire himself.
“But here’s why he ain’t got it: his extreme, toxic agenda of banning abortion, slashing Social Security, and promoting political violence is repelling donors and doing exactly *nothing* to earn support from the voters who will decide this election.
“Even if he had the money, it’s not a message the voters would buy.”
Joe Sommerlad22 March 2024 14:00
Tapper calls out Trump campaign’s denial that candidate ever made fun of Biden’s stutter
When campaign adviser Jason Miller insisted Trump had never mocked the president’s speech impediment but had “simply called out the fact Biden is a cognitively impaired, low-IQ individual,” the CNN anchor was having none of it.
After running a clip of the Republican’s crude impersonation of his rival at a January rally in Iowa, Tapper asked: “Why even deny it when it’s so—I mean, it just doesn’t matter anymore? Just lie about anything?”
Joe Sommerlad22 March 2024 13:30
Is ‘Little Marco’ Rubio on Trump’s list of running mates?
You would assume that was unlikely given the past animosity between the two men but the Florida senator did recently endorse him.
Here’s what he had to say about the rumour mill yesterday.
Joe Sommerlad22 March 2024 13:00
Biden responds to Trump’s question: ‘Were you better off four years ago?’
Joe Biden has launched a brutal campaign advert in response to a post from Trump asking voters if they were “better off” before his political rival took office.
The Biden campaign responded to their rival’s query with a short clip in X captioned: “Donald, I’m glad you asked.”
The attached video, paid for by the president, contained a package of clips recapping Trump’s disastrous response to the coronavirus pandemic.
Mike Bedigan has more.
Joe Sommerlad22 March 2024 12:30
Trump once again puts Republicans in a bind on abortion
Here’s Eric Garcia on the Republican’s comments earlier this week suggesting he might be in favour of a 15-week national ban on abortion, a position that could well make life awkward for some of his GOP teammates.
Joe Sommerlad22 March 2024 12:00
Trump’s PAC spent $230k a day on legal fees in February, records show
The Republican’s legal bills are outpacing the money coming into one of his chief political action committees, underscoring the strain his many courtroom battles, lawsuits and criminal charges are placing on his presidential campaign.
Fundraising committees tied to the former president have routinely relied on his trial losses and the mountain of criminal charges against him to ask his supporters for money while casting him as a victim of a political conspiracy from his Democratic rivals.
His Save America leadership PAC spent nearly $5.6m in February while raising $5m, according to campaign reports to the Federal Election Commission.
The PAC ended the month with roughly $4m in the bank.
Alex Woodward has more.
Joe Sommerlad22 March 2024 11:30
Trump planning to bring back the ghosts of advisers past
As Trump’s re-election campaign ramps up, he appears to be turning his attention towards revising his line-up of advisers in the hope of recapturing former glories.
According to reports his old 2016 campaign managers Corey Lewandowski and Paul Manafort are “in talks to return” while the near-legendary conservative fixer Roger Stone “has increasingly appeared at Trump’s Mar-a-Lago home in Florida”.
Here’s more on some old ghouls threatening a return from the beyond.
Joe Sommerlad22 March 2024 11:00
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