Former President Trump’s Social Media Company Approved To Go Public

The Truth Social account for former President Donald Trump is seen on a mobile device, Wednesday, March 20, 2024, in New York. Trump’s Truth Social looks set to hit Wall Street in a move that could give him stock worth billions of dollars on paper. But the former president likely can’t cash it out right away, unless some things change. (AP Photo/John Minchillo)

NEW YORK (AP) — Donald Trump is returning to the stock market.

Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the former president’s media business in a Friday vote.

That means Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will soon begin trading on the Nasdaq stock market.

The deal’s greenlight arrives at a time the presumptive Republican presidential nominee is facing his most costly legal battle to date: a $454 million judgment in a fraud lawsuit.