In case anyone is finding the current crop of conspiracy theories lacking, Trump's going to get his windfall through a merger with a company with "World Acquisition" in its name that just so happens to be headquartered in Wuhan, China -- the epicenter of COVID-19.
Trump, whose companies have a long history of filing for bankruptcy, announced a deal Wednesday night to bring a new media company public through what’s known as a SPAC, or a Special Purpose Acquisition Corporation.
Trump Media & Technology Group, chaired by Trump, said it will launch a new social media platform that the former president promises will “stand up to the tyranny of Big Tech.”
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The media company has agreed to combine with Digital World Acquisition Corp., a blank check company that exists solely to merge with private firms to take them public.
The Nasdaq-listed shell company is led by Patrick Orlando, who is also the CEO of Yunhong International, a SPAC based in Wuhan, China, according to filings.
The blank check company’s shares nearly quadrupled on Thursday, finishing up 357%.
https://www.cnn.com/2021/10/21/business/trump-social-media-spac/index.html