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A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.

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137

Trump 'tried to sell Truth Social to Musk' as SPAC deal stalled (www.theregister.com)

submitted 6 months ago by ZeroCool@beehaw.org to c/technology@beehaw.org

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[–] avidamoeba@lemmy.ca 54 points 6 months ago (2 children)

Either way, Trump's Truth Social woes and finances might be getting a reprieve soon. The SEC approved the deal last month, which could be worth up to $10 billion. Trump, who would hold more than half the shares of the combined company, would reportedly stand to raise his net worth by some $4 billion - more than enough to handle those legal problems without Musk's help.

What the fuck.

[–] Neato@ttrpg.network 50 points 6 months ago

Feb 15 (Reuters) - 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.

So someone is essentially gifting Trump billions for a "merger".

[–] SnotFlickerman@lemmy.blahaj.zone 31 points 6 months ago

'MURICA, land of the endless access to money for the already-rich and politically connected.