Truth Social app. Credit: Michelangelo Oprandi/Adobe Stock Paul Hastings, Nelson Mullins Broker Deal to Take Trump-Backed Truth Social Public
The newly public entity trading as Digital World saw its stock price jump 15% on Tuesday, providing a $4.5 billion valuation for Trump's stake.
March 27, 2024 at 11:57 AM
2 minute read
Deals and Transactions
What You Need to Know
- Deal teams from Paul Hastings and Nelson Mullins advised parties in the deal to take Trump-backed social media platform Truth Social public.
- The deal has driven speculation that the former president will direct the windfall to pay legal costs, including a $175 million bond due in less than two weeks in a New York civil fraud case.
In a transaction that could boost former President Donald Trump's net worth by more than $4 billion, deal teams at Paul Hastings and Nelson Mullins Riley & Scarborough served as legal counsel to parties in a bid make Trump-backed social media platform Truth Social a public company.
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