U.S. Regulators Clear Donald Trump’s Social Media Deal Worth as Much as $10 Billion

The U.S. Securities and Exchange Commission allowed Donald Trump’s media and technology company to merge with a blank-check acquisition vehicle in a deal that currently values the parent of his social media app Truth Social at as much as $10 billion.

The valuation is about half that of Elon Musk’s much more popular social media company X and follows two years of setbacks in the Trump company’s quest to complete a stock market listing.

It underscores how some investors, many of them fans of the former U.S. president, are ignoring Truth Social’s losses and limited user base because of Trump’s involvement.

Read the source article at Yahoo Finance