Ex-United States President & Billionaire with $3 Billion Fortune Licensed 147 Pieces of Trump 18-Carat Gold Watch Collection with 122 Diamonds Named The Trump Victory Tourbillion Which is Selling for $100,000 Each, Other Trump Watch Variations are Selling Between $499 to $799
1st October 2024 | Hong Kong
The ex-United States President & billionaire with $3 billion fortune Donald Trump has licensed 147 pieces of Trump 18-carat gold watch collection with 122 diamonds named “The Trump Victory Tourbillion” which is selling for $100,000 each, and other Trump watch variations are selling between $499 to $799. In 2024 September, Donald Trump had faced a 2nd assassination attempt on 16th September 2024 at the Trump International Golf Club West Palm Beach Florida by Ryan Routh (Age 58), who had been charged in court. The first assassination attempt was on 13th July 2024 by Bethel Park high school student Thomas Matthew Crooks. Donald Trump is campaigning to be the next President of United States with the presidential election scheduled on 5th November 2024. In 2024 August, indictment on election interference against ex-President of United States Donald Trump. Earlier in 2024 August, the ex-President of United States Donald Trump lawyer has filed a legal notice announcing plans to sue United States Justice Department & FBI for $115 million for alleged malicious political prosecution & abuse of process to prevent Donald Trump from being re-elected as President of United States. Donald Trump had to spend tens of millions to defend the case & his reputation. In 2024 August, Donald Trump financial filing as Republican Presidential nominee had disclosed $513 million of total income. The filing includes all assets such as golf courses, resorts, primary residences & Trump Media & Technology Group with 64.9% shareholding valued at $2.7 billion. The filing also includes debts including more than $50 million to writer E Jean Carroll.
“ Ex-United States President & Billionaire with $3 Billion Fortune Licensed 147 Pieces of Trump 18-Carat Gold Watch Collection with 122 Diamonds Named The Trump Victory Tourbillion Which is Selling for $100,000 Each, Other Trump Watch Variations are Selling Between $499 to $799 “
Ex-United States President & Billionaire with $3 Billion Fortune Donald Trump Faced 2nd Assassination Attempt on 16th September 2024 at Trump International Golf Club West Palm Beach Florida by Ryan Routh Age 58 Who Had been Charged in Court, First Assassination Attempt on 13th July 2024 by Bethel Park High School Student Thomas Matthew Crooks, Donald Trump is Campaigning to be the Next President of United States with the Presidential Election Scheduled on 5th November 2024
19th September 2024 – The ex-United States President & billionaire with $3 billion fortune Donald Trump had faced a 2nd assassination attempt on 16th September 2024 at the Trump International Golf Club West Palm Beach Florida by Ryan Routh (Age 58), who had been charged in court. The first assassination attempt was on 13th July 2024 by Bethel Park high school student Thomas Matthew Crooks. Donald Trump is campaigning to be the next President of United States with the presidential election scheduled on 5th November 2024. In 2024 August, indictment on election interference against ex-President of United States Donald Trump. Earlier in 2024 August, the ex-President of United States Donald Trump lawyer has filed a legal notice announcing plans to sue United States Justice Department & FBI for $115 million for alleged malicious political prosecution & abuse of process to prevent Donald Trump from being re-elected as President of United States. Donald Trump had to spend tens of millions to defend the case & his reputation. In 2024 August, Donald Trump financial filing as Republican Presidential nominee had disclosed $513 million of total income. The filing includes all assets such as golf courses, resorts, primary residences & Trump Media & Technology Group with 64.9% shareholding valued at $2.7 billion. The filing also includes debts including more than $50 million to writer E Jean Carroll.
United States Prosecutor Files Amended Indictment on Election Interference Against Ex-President of United States Donald Trump, Donald Trump Lawyer Had Earlier Filed Legal Notice Announcing Plans to Sue United States Justice Department & FBI for $115 Million for Alleged Malicious Political Prosecution & Abuse of Process to Prevent Donald Trump from Being Re-elected as President of United States, Donald Trump Had to Spend Tens of Millions to Defend the Case & His Reputation
28th August 2024 – A United States prosecutor (Special Counsel Jack Smith) has filed an amended indictment on election interference against ex-President of United States Donald Trump. Earlier in 2024 August, the ex-President of United States Donald Trump lawyer has filed a legal notice announcing plans to sue United States Justice Department & FBI for $115 million for alleged malicious political prosecution & abuse of process to prevent Donald Trump from being re-elected as President of United States. Donald Trump had to spend tens of millions to defend the case & his reputation. In 2024 August, Donald Trump financial filing as Republican Presidential nominee had disclosed $513 million of total income. The filing includes all assets such as golf courses, resorts, primary residences & Trump Media & Technology Group with 64.9% shareholding valued at $2.7 billion. The filing also includes debts including more than $50 million to writer E Jean Carroll. Donald Trump personal fortune is at more than $5 billion.
Ex-President of United States Donald Trump Lawyer Files Legal Notice Announcing Plans to Sue United States Justice Department & FBI for $115 Million for Alleged Malicious Political Prosecution & Abuse of Process to Prevent Donald Trump from Being Re-elected as President of United States, Donald Trump Had to Spend Tens of Millions to Defend the Case & His Reputation
16th August 2024 – The ex-President of United States Donald Trump lawyer has filed a legal notice announcing plans to sue United States Justice Department & FBI for $115 million for alleged malicious political prosecution & abuse of process to prevent Donald Trump from being re-elected as President of United States. Donald Trump had to spend tens of millions to defend the case & his reputation. In 2024 August, Donald Trump financial filing as Republican Presidential nominee had disclosed $513 million of total income. The filing includes all assets such as golf courses, resorts, primary residences & Trump Media & Technology Group with 64.9% shareholding valued at $2.7 billion. The filing also includes debts including more than $50 million to writer E Jean Carroll. Donald Trump personal fortune is at more than $5 billion.
Billionaire & ex-President of United States Donald Trump Financial Filing as Republican Presidential Nominee Disclosed $513 Million of Total Income, Filing Includes All Assets Such as Golf Courses, Resorts, Primary Residences & Trump Media & Technology Group with 64.9% Shareholding Valued at $2.7 Billion, Filing Also Includes Debts Including More than $50 Million to Writer E Jean Carroll, Donald Trump Personal Fortune at More than $5 Billion
16th August 2024 – Billionaire & ex-President of United States Donald Trump financial filing as Republican Presidential nominee had disclosed $513 million of total income. The filing includes all assets such as golf courses, resorts, primary residences & Trump Media & Technology Group with 64.9% shareholding valued at $2.7 billion. The filing also includes debts including more than $50 million to writer E Jean Carroll. Donald Trump personal fortune is at more than $5 billion. In 2024 July, Donald Trump was shot in his ear at a Presidential election campaign rally in Pennsylvania (United States) on 13th July 2024 by a 20-year old Thomas Crooks with 1 person killed & 2 critically injured. After the assassination attempt on Donald Trump, Tesla founder & billionaire Elon Musk pledged to give $45 million a month to a pro-Donald Trump super political-action committee, and publicly endorsed Donald trump on 14th July 2024 (I fully endorse President Trump and hope for his rapid recovery). In 2024 July, Donald Trump was found guilty by a New York Court jury (30/5/24) for falsifying $130,000 payment information to influence the United States 2016 election in a non-disclosure money payment to a porn actress (Stormy Daniels). Before, during and after the court trial & verdict, Donald Trump has been and is claiming the New York Court trial is rigged, and is expected to appeal the verdict. The New York judge is expected to sentence Donald Trump on the 11th July 2024. Donald Trump is running for election as President of United States with election date on 5th November 2024. In 2024 May, Donald Trump’s Trump Media & Technology Group (23/5/24: $7.8 billion market value) reported $328 million losses for 2024 Q1. In March 2024, SPAC Digital World Acquisition Corp shareholders approved the $6 billion (22/3/24 current market value) merger with Donald Trump Media & Technology Group which operates Truth Social Platform, with Donald Trump owning 58% of the merged entity valued at $3.5 billion.
$10 Trillion World Largest Asset Manager BlackRock Advertisement Video in 2022 Featured ex-United States President Donald Trump Assassinator & Bethel Park High School Student Thomas Matthew Crooks
3rd August 2024 – The world’s largest asset manager BlackRock with $10 trillion AUM advertisement video in 2022 had featured ex-United States President Donald Trump assassinator & Bethel Park High School student Thomas Matthew Crooks, with BlackRock removing the advertisement commercial after the student appearance in the video was discovered. Separately, United States-based Austin Private Wealth had shorted shares of Trump Media & Technology before ex-President Donald Trump assassination attempt on 13th July 2024, and incorrectly submitted filing of 12 million shares shorted instead of 1,200 shares shorted to the United States SEC (Securities & Exchange Commission). The filing was submitted on 12th July 2024 to reflect Austin Private Wealth’s positions on 28th June 2024, and amended on 16th July 2024. Statement on Incorrect Filing with the SEC (7/17/24) – The SEC filing which showed that Austin Private Wealth shorted a large number of shares of Trump Media & Technology Group Corp (DJT) was incorrect and we immediately amended it as soon as we learned of the error. No client of APW holds, or has ever held, a put on DJT in the quantity initially reported. The correct holding amount was 12 contracts, or 1,200 shares — not 12 million shares, as was filed in error. In submitting the required report for the second quarter of 2024, a multiplier was applied by a third-party vendor that increased the number of the shares by a multiple of 10,000 for all options contracts (not just DJT). We did not catch the error before approving the filing. We filed the report on July 12 to reflect our positions on June 28. We amended it on July 16. We deeply regret this error and the concern it has caused, especially at such a fraught moment for our nation. We are committed to full transparency and maintaining the trust of our clients. As such, we are reviewing our internal procedures and our processes with the third-party vendor that assists with SEC filings to better understand how this happened and avoid similar issues moving forward.
United States Austin Private Wealth Shorted Shares of Trump Media & Technology Before ex-President Donald Trump Assassination Attempt on 13th July 2024, Incorrectly Submitted Filing of 12 Million Shares Shorted Instead of 1,200 Shares Shorted to United States SEC, Filing Submitted on 12th July 2024 to Reflect Positions on 28th June 2024, Amended on 16th July 2024
28th July 2024 – United States-based Austin Private Wealth had shorted shares of Trump Media & Technology before ex-President Donald Trump assassination attempt on 13th July 2024, and incorrectly submitted filing of 12 million shares shorted instead of 1,200 shares shorted to the United States SEC (Securities & Exchange Commission). The filing was submitted on 12th July 2024 to reflect Austin Private Wealth’s positions on 28th June 2024, and amended on 16th July 2024. Statement on Incorrect Filing with the SEC (7/17/24) – The SEC filing which showed that Austin Private Wealth shorted a large number of shares of Trump Media & Technology Group Corp (DJT) was incorrect and we immediately amended it as soon as we learned of the error. No client of APW holds, or has ever held, a put on DJT in the quantity initially reported. The correct holding amount was 12 contracts, or 1,200 shares — not 12 million shares, as was filed in error. In submitting the required report for the second quarter of 2024, a multiplier was applied by a third-party vendor that increased the number of the shares by a multiple of 10,000 for all options contracts (not just DJT). We did not catch the error before approving the filing. We filed the report on July 12 to reflect our positions on June 28. We amended it on July 16. We deeply regret this error and the concern it has caused, especially at such a fraught moment for our nation. We are committed to full transparency and maintaining the trust of our clients. As such, we are reviewing our internal procedures and our processes with the third-party vendor that assists with SEC filings to better understand how this happened and avoid similar issues moving forward.
Ex-United States President & Billionaire with $6 Billion Fortune Donald Trump Shot in the Ear at Campaign Rally in Pennsylvania (United States) on 13th July 2024 by 20-Year Old Thomas Crooks with 1 Person Killed & 2 Critically Injured, Tesla Founder & Billionaire Elon Musk Pledged to Give $45 Million a Month to Pro-Donald Trump Super Political-Action Committee & Endorsed Donald Trump
19th July 2024 – The ex-United States President & billionaire with $6 billion fortune Donald Trump was shot in his ear at a Presidential election campaign rally in Pennsylvania (United States) on 13th July 2024 by a 20-year old Thomas Crooks with 1 person killed & 2 critically injured. After the assassination attempt on Donald Trump, Tesla founder & billionaire Elon Musk pledged to give $45 million a month to a pro-Donald Trump super political-action committee, and publicly endorsed Donald trump on 14th July 2024 (I fully endorse President Trump and hope for his rapid recovery). In 2024 July, Donald Trump was found guilty by a New York Court jury (30/5/24) for falsifying $130,000 payment information to influence the United States 2016 election in a non-disclosure money payment to a porn actress (Stormy Daniels). Before, during and after the court trial & verdict, Donald Trump has been and is claiming the New York Court trial is rigged, and is expected to appeal the verdict. The New York judge is expected to sentence Donald Trump on the 11th July 2024. Donald Trump is running for election as President of United States with election date on 5th November 2024. In 2024 May, Donald Trump’s Trump Media & Technology Group (23/5/24: $7.8 billion market value) reported $328 million losses for 2024 Q1. In March 2024, SPAC Digital World Acquisition Corp shareholders approved the $6 billion (22/3/24 current market value) merger with Donald Trump Media & Technology Group which operates Truth Social Platform, with Donald Trump owning 58% of the merged entity valued at $3.5 billion. In May 2024, Donald Trump owns more than 64% of Trump Media & Technology Group after receiving an additional 36 million shares of Trump Media & Technology Group valued at $1 billion. In late March 2024, Donald Trump Media & Technology Group which operates Truth Social Platform $6 billion SPAC merger had increased to $8.39 billion market value in the 1st week of trading (26th to 28th March 2024).
Ex-United States President & Billionaire with $7.2 Billion Fortune Donald Trump Found Guilty by New York Court Jury for Falsifying $130,000 Payment Information to Influence United States 2016 Election in Non-Disclosure Money Payment to a Porn Actress, Donald Trump Claims the New York Court Trial is Rigged & is Expected to Appeal the Verdict, New York Judge to Sentence Donald Trump on 11th July 2024, Donald Trump is Running for Election as President of United States with Election Date on 5th November 2024
7th June 2024 – The ex-United States President & billionaire with $7.2 billion fortune Donald Trump has been found guilty by a New York Court jury (30/5/24) for falsifying $130,000 payment information to influence the United States 2016 election in a non-disclosure money payment to a porn actress (Stormy Daniels). Before, during and after the court trial & verdict, Donald Trump has been and is claiming the New York Court trial is rigged, and is expected to appeal the verdict. The New York judge is expected to sentence Donald Trump on the 11th July 2024. Donald Trump is running for election as President of United States with election date on 5th November 2024. In 2024 May, Donald Trump’s Trump Media & Technology Group (23/5/24: $7.8 billion market value) reported $328 million losses for 2024 Q1. In March 2024, SPAC Digital World Acquisition Corp shareholders approved the $6 billion (22/3/24 current market value) merger with Donald Trump Media & Technology Group which operates Truth Social Platform, with Donald Trump owning 58% of the merged entity valued at $3.5 billion. In May 2024, Donald Trump owns more than 64% of Trump Media & Technology Group after receiving an additional 36 million shares of Trump Media & Technology Group valued at $1 billion. In late March 2024, Donald Trump Media & Technology Group which operates Truth Social Platform $6 billion SPAC merger had increased to $8.39 billion market value in the 1st week of trading (26th to 28th March 2024).
Donald Trump $7.8 Billion Trump Media & Technology Group Reports $328 Million Losses for 2024 Q1, SPAC Digital World Acquisition Corp Shareholders Approved $6 Billion Merger in 2024 March with Donald Trump Media & Technology Group Which Operates Truth Social Platform
23rd May 2024 – Donald Trump’s Trump Media & Technology Group (23/5/24: $7.8 billion market value) has reported $328 million losses for 2024 Q1. In March 2024, SPAC Digital World Acquisition Corp shareholders approved the $6 billion (22/3/24 current market value) merger with Donald Trump Media & Technology Group which operates Truth Social Platform, with Donald Trump owning 58% of the merged entity valued at $3.5 billion. In May 2024, Donald Trump owns more than 64% of Trump Media & Technology Group after receiving an additional 36 million shares of Trump Media & Technology Group valued at $1 billion. In late March 2024, Donald Trump Media & Technology Group which operates Truth Social Platform $6 billion SPAC merger had increased to $8.39 billion market value in the 1st week of trading (26th to 28th March 2024).
Donald Trump Owns More than 64% of Trump Media & Technology Group after Receiving Additional 36 Million Shares of Trump Media & Technology Group Valued at $1 Billion, $6 Billion SPAC Merger Had Increased to $8.39 Billion Market Value in 1st Week of Trading in March 2024, Donald Trump Personal Fortune Increased to $6.5 Billion & Joined Top 500 Richest in the World
3rd May 2024 – Donald Trump owns more than 64% of Trump Media & Technology Group after receiving an additional 36 million shares of Trump Media & Technology Group valued at $1 billion. In late March 2024, Donald Trump Media & Technology Group which operates Truth Social Platform $6 billion SPAC merger had increased to $8.39 billion market value in the 1st week of trading (26th to 28th March 2024). With the SPAC merger, Donald Trump personal fortune increased to $6.5 billion and joined the top 500 richest in the world. In March 2024, SPAC Digital World Acquisition Corp shareholders had approved the $6 billion (22/3/24 current market value) merger with Donald Trump Media & Technology Group which operates Truth Social Platform, with Donald Trump owning 58% of the merged entity valued at $3.5 billion. Earlier in March 2024, Trump Media & Technology Group had been sued by co-founders United Atlantic Ventures for trying to dilute shares (Trump Media & Technology Group) before planned $4 billion SPAC merger (Special Purpose Acquisition Company) with Digital World Acquisition Corp. United Atlantic Ventures was founded by former The Apprentice contestants Andy Litinsky and Wes Moss, who pitched the idea of creating Trump Media in February 2021 after former United States President Donald Trump was banned from Twitter (now X) and Facebook. Digital World Acquisition Corp. shareholders are scheduled to vote on the potential approval of the merger on 22nd March 2024. In 2023, Digital World Acquisition Corp had cancelled plan to merge with Donald Trump Media & Technology Group which operates Truth Social platform after investors backtrack on $467 million of $533 million commitment for the deal. In July 2023, the United States Securities & Exchange Commission (SEC) fined Digital World SPAC (special purpose acquisition company) $18 million for failing to disclose plan to acquire Trump Media & Technology Group Corp (Founded by former United States President Donald Trump) prior to Digital World SPAC IPO (Initial Public Offering) in 2021. More info below:
Donald Trump to Receive Additional 36 Million Shares of Trump Media & Technology Group Valued at $1 Billion, $6 Billion SPAC Merger Had Increased to $8.39 Billion Market Value in 1st Week of Trading in March 2024, Donald Trump Personal Fortune Increased to $6.5 Billion & Joined Top 500 Richest in the World
28th April 2024 – Donald Trump will be receiving an additional 36 million shares of Trump Media & Technology Group valued at $1 billion. In late March 2024, Donald Trump Media & Technology Group which operates Truth Social Platform $6 billion SPAC merger has increased to $8.39 billion market value in the 1st week of trading (26th to 28th March 2024). With the SPAC merger, Donald Trump personal fortune has increased to $6.5 billion and joins the top 500 richest in the world. In March 2024, SPAC Digital World Acquisition Corp shareholders had approved the $6 billion (22/3/24 current market value) merger with Donald Trump Media & Technology Group which operates Truth Social Platform, with Donald Trump owning 58% of the merged entity valued at $3.5 billion. Earlier in March 2024, Trump Media & Technology Group had been sued by co-founders United Atlantic Ventures for trying to dilute shares (Trump Media & Technology Group) before planned $4 billion SPAC merger (Special Purpose Acquisition Company) with Digital World Acquisition Corp. United Atlantic Ventures was founded by former The Apprentice contestants Andy Litinsky and Wes Moss, who pitched the idea of creating Trump Media in February 2021 after former United States President Donald Trump was banned from Twitter (now X) and Facebook. Digital World Acquisition Corp. shareholders are scheduled to vote on the potential approval of the merger on 22nd March 2024. In 2023, Digital World Acquisition Corp had cancelled plan to merge with Donald Trump Media & Technology Group which operates Truth Social platform after investors backtrack on $467 million of $533 million commitment for the deal. In July 2023, the United States Securities & Exchange Commission (SEC) fined Digital World SPAC (special purpose acquisition company) $18 million for failing to disclose plan to acquire Trump Media & Technology Group Corp (Founded by former United States President Donald Trump) prior to Digital World SPAC IPO (Initial Public Offering) in 2021. More info below:
Donald Trump Media & Technology Group $6 Billion SPAC Merger Increased to $8.39 Billion Market Value in 1st Week of Trading, Donald Trump Personal Fortune Increases to $6.5 Billion & Joins Top 500 Richest in the World
30th March 2024 – Donald Trump Media & Technology Group which operates Truth Social Platform $6 billion SPAC merger has increased to $8.39 billion market value in the 1st week of trading (26th to 28th March 2024). With the SPAC merger, Donald Trump personal fortune has increased to $6.5 billion and joins the top 500 richest in the world. In March 2024, SPAC Digital World Acquisition Corp shareholders had approved the $6 billion (22/3/24 current market value) merger with Donald Trump Media & Technology Group which operates Truth Social Platform, with Donald Trump owning 58% of the merged entity valued at $3.5 billion. Earlier in March 2024, Trump Media & Technology Group had been sued by co-founders United Atlantic Ventures for trying to dilute shares (Trump Media & Technology Group) before planned $4 billion SPAC merger (Special Purpose Acquisition Company) with Digital World Acquisition Corp. United Atlantic Ventures was founded by former The Apprentice contestants Andy Litinsky and Wes Moss, who pitched the idea of creating Trump Media in February 2021 after former United States President Donald Trump was banned from Twitter (now X) and Facebook. Digital World Acquisition Corp. shareholders are scheduled to vote on the potential approval of the merger on 22nd March 2024. In 2023, Digital World Acquisition Corp had cancelled plan to merge with Donald Trump Media & Technology Group which operates Truth Social platform after investors backtrack on $467 million of $533 million commitment for the deal. In July 2023, the United States Securities & Exchange Commission (SEC) fined Digital World SPAC (special purpose acquisition company) $18 million for failing to disclose plan to acquire Trump Media & Technology Group Corp (Founded by former United States President Donald Trump) prior to Digital World SPAC IPO (Initial Public Offering) in 2021. More info below:
SPAC Digital World Acquisition Corp Shareholders Approve $6 Billion Merger with Donald Trump Media & Technology Group Which Operates Truth Social Platform, Donald Trump Owns 58% of Merged Entity Valued at $3.5 Billion
23rd March 2024 – SPAC Digital World Acquisition Corp shareholders have approved the $6 billion (22/3/24 current market value) merger with Donald Trump Media & Technology Group which operates Truth Social Platform, with Donald Trump owning 58% of the merged entity valued at $3.5 billion. Earlier in March 2024, Trump Media & Technology Group had been sued by co-founders United Atlantic Ventures for trying to dilute shares (Trump Media & Technology Group) before planned $4 billion SPAC merger (Special Purpose Acquisition Company) with Digital World Acquisition Corp. United Atlantic Ventures was founded by former The Apprentice contestants Andy Litinsky and Wes Moss, who pitched the idea of creating Trump Media in February 2021 after former United States President Donald Trump was banned from Twitter (now X) and Facebook. Digital World Acquisition Corp. shareholders are scheduled to vote on the potential approval of the merger on 22nd March 2024. In 2023, Digital World Acquisition Corp had cancelled plan to merge with Donald Trump Media & Technology Group which operates Truth Social platform after investors backtrack on $467 million of $533 million commitment for the deal. In July 2023, the United States Securities & Exchange Commission (SEC) fined Digital World SPAC (special purpose acquisition company) $18 million for failing to disclose plan to acquire Trump Media & Technology Group Corp (Founded by former United States President Donald Trump) prior to Digital World SPAC IPO (Initial Public Offering) in 2021. More info below:
Trump Media & Technology Group Sued by Co-Founders United Atlantic Ventures for Trying to Dilute Shares Before Planned $4 Billion SPAC Merger with Digital World Acquisition Corp
10th March 2024 – Trump Media & Technology Group had been sued by co-founders United Atlantic Ventures for trying to dilute shares (Trump Media & Technology Group) before planned $4 billion SPAC merger (Special Purpose Acquisition Company) with Digital World Acquisition Corp. United Atlantic Ventures was founded by former The Apprentice contestants Andy Litinsky and Wes Moss, who pitched the idea of creating Trump Media in February 2021 after former United States President Donald Trump was banned from Twitter (now X) and Facebook. Digital World Acquisition Corp. shareholders are scheduled to vote on the potential approval of the merger on 22nd March 2024. In 2023, Digital World Acquisition Corp had cancelled plan to merge with Donald Trump Media & Technology Group which operates Truth Social platform after investors backtrack on $467 million of $533 million commitment for the deal. In July 2023, the United States Securities & Exchange Commission (SEC) fined Digital World SPAC (special purpose acquisition company) $18 million for failing to disclose plan to acquire Trump Media & Technology Group Corp (Founded by former United States President Donald Trump) prior to Digital World SPAC IPO (Initial Public Offering) in 2021. More info below:
SPAC Digital World Acquisition Corp Cancels Plan to Merge with Donald Trump Media & Technology Group Which Operates Truth Social Platform after Investors Backtrack on $467 Million of $533 Million Commitment for the Deal, United States SEC Fined Digital World SPAC $18 Million for Failing to Disclose Plan to Acquire Trump Media & Technology Group Corp Prior to Digital World SPAC IPO in 2021 Requirements to Investors
21st October 2023 – SPAC Digital World Acquisition Corp has cancelled plan to merge with Donald Trump Media & Technology Group which operates Truth Social platform after investors backtrack on $467 million of $533 million commitment for the deal. In July 2023, the United States Securities & Exchange Commission (SEC) fined Digital World SPAC (special purpose acquisition company) $18 million for failing to disclose plan to acquire Trump Media & Technology Group Corp (Founded by former United States President Donald Trump) prior to Digital World SPAC IPO (Initial Public Offering) in 2021. More info below:
Digital World is a blank check company incorporated in December 2020 for the purpose of effecting a business combination with one of more companies. Digital World completed an Initial Public Offering in September 2021 and entered into a definitive merger agreement with TMTG in October 2021.
Trump Media & Technology Group (TMTG) is a social media and technology company. TruthSocial, TMTG’s first product, is a high-growth social media platform and a Big Tech alternative that encourages an open, free, and honest global conversation without discriminating on the basis of political ideology.
United States SEC Fines Digital World SPAC $18 Million for Failing to Disclose Plan to Acquire Trump Media & Technology Group Corp Prior to Digital World SPAC IPO in 2021
21st July 2023 – The United States Securities & Exchange Commission (SEC) has fined Digital World SPAC (special purpose acquisition company) $18 million for failing to disclose plan to acquire Trump Media & Technology Group Corp (Founded by former United States President Donald Trump) prior to Digital World SPAC IPO (Initial Public Offering) in 2021. United States SEC: “The Securities and Exchange Commission today announced settled fraud charges against Digital World Acquisition Corporation (DWAC), a special purpose acquisition company (SPAC), for making material misrepresentations in forms filed with the SEC as part of DWAC’s initial public offering and proposed merger with Trump Media & Technology Group Corp. (TMTG). The Commission finds that DWAC misled investors and the SEC by failing to disclose that it had formulated a plan to acquire and was pursuing the acquisition of TMTG prior to DWAC’s IPO. The purpose of a SPAC is to identify and acquire an operating business. As such, steps taken by a SPAC in furtherance of a particular acquisition are important to investors. According to the SEC’s order, DWAC filed an amended Form S-1 in support of its IPO in early September 2021 that stated that neither DWAC nor its officers and directors had had any discussions with any potential target companies prior to the IPO. But, as found in the SEC’s order, dating back to February 2021, an individual who would later become DWAC’s CEO and Board Chairman, and others involved with DWAC, had extensive SPAC merger discussions with TMTG. The SEC’s order further finds that, while DWAC’s CEO and Chairman initially pursued these discussions with TMTG on behalf of another SPAC, he created a plan in the spring and summer of 2021 to potentially use DWAC to pursue a merger with TMTG and used this plan to solicit certain pre-IPO investors. The order also finds that DWAC failed to disclose that the CEO had a potential conflict of interest based on an agreement he had signed with TMTG. As a result, DWAC’s amended Form S-1 was materially false and misleading.” Gurbir S. Grewal, Director o the United States SEC’s Division of Enforcement: “DWAC failed to disclose its discussions with TMTG and failed to disclose a material conflict of interest of its CEO and Chairman. In the context of a SPAC – a ‘blank-check’ entity without business operations – these disclosure failures are particularly problematic because investors focus on factors such as the SPAC’s management team and potential merger targets when making financial decisions.” Digital World is a blank check company incorporated in December 2020 for the purpose of effecting a business combination with one of more companies. Digital World completed an Initial Public Offering in September 2021 and entered into a definitive merger agreement with TMTG in October 2021. Trump Media & Technology Group (TMTG) is a social media and technology company. See below for United States SEC statement.
United States SEC Fines Digital World SPAC $18 Million for Failing to Disclose Plan to Acquire Trump Media & Technology Group Corp Prior to Digital World SPAC IPO in 2021
- SEC Charges Digital World SPAC for Material Misrepresentations to Investors
20th July 2023 – The Securities and Exchange Commission today announced settled fraud charges against Digital World Acquisition Corporation (DWAC), a special purpose acquisition company (SPAC), for making material misrepresentations in forms filed with the SEC as part of DWAC’s initial public offering and proposed merger with Trump Media & Technology Group Corp. (TMTG). The Commission finds that DWAC misled investors and the SEC by failing to disclose that it had formulated a plan to acquire and was pursuing the acquisition of TMTG prior to DWAC’s IPO.
The purpose of a SPAC is to identify and acquire an operating business. As such, steps taken by a SPAC in furtherance of a particular acquisition are important to investors. According to the SEC’s order, DWAC filed an amended Form S-1 in support of its IPO in early September 2021 that stated that neither DWAC nor its officers and directors had had any discussions with any potential target companies prior to the IPO. But, as found in the SEC’s order, dating back to February 2021, an individual who would later become DWAC’s CEO and Board Chairman, and others involved with DWAC, had extensive SPAC merger discussions with TMTG. The SEC’s order further finds that, while DWAC’s CEO and Chairman initially pursued these discussions with TMTG on behalf of another SPAC, he created a plan in the spring and summer of 2021 to potentially use DWAC to pursue a merger with TMTG and used this plan to solicit certain pre-IPO investors. The order also finds that DWAC failed to disclose that the CEO had a potential conflict of interest based on an agreement he had signed with TMTG. As a result, DWAC’s amended Form S-1 was materially false and misleading.
The SEC’s order further states that, in a later Form S-4 filed with the Commission following the announcement of the proposed merger with TMTG, DWAC mischaracterized and omitted information about the history of its interactions with TMTG.
The SEC’s order finds that DWAC violated the antifraud provisions of the federal securities laws. DWAC agreed to a cease-and-desist order and to pay an $18 million penalty in the event it closes a merger transaction. It also agreed to undertake that, should DWAC file an amended Form S-4, any such Form S-4 will be materially complete and accurate and consistent with the findings in the SEC’s order.
The SEC’s investigation was conducted by Andrew McFall, David Bennett, and Darren Boerner of the Market Abuse Unit and Lindsay S. Moilanen of the New York Regional Office. The case was supervised by Joseph Sansone of the Market Abuse Unit and Thomas P. Smith, Jr. of the New York Regional Office.
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