AP Photo/David Goldman
Former President Donald Trump's Truth Social is set to become part of a publicly traded company after a long-delayed merger was finally approved.
On Friday, a shell company created solely to buy Truth Social's parent company, Trump Media & Technology Group, approved the merger, according to multiple reports.
Trump's net worth will jump more than $3 billion from the deal, based on his large stake in the social media platform he helped create in the wake of his post-January 6, 2021 Capitol riot bans on mainstream platforms. But under previous agreements, he likely won't be able to sell his shares for at least six months.
As soon as Monday, the new company could be relisted on Nasdaq under the symbol "DJT," the former president's name.
This is a breaking news story. Stay with Business Insider for more updates.
