Trump’s SPAC eyes new payday despite massive selloff
Donald Trump’s SPAC, Digital World Acquisition Corp (DWAC), is poised to grant him a hefty payday, despite a $4.5 billion selloff in its stock value. The former president is entitled to a potential $2.8 billion in earn-out payments if the company’s stock price surpasses certain targets, according to regulatory filings. This is in addition to the $1.2 billion he already cashed out through stock sales. The development underscores the controversial nature of SPACs, with critics arguing they provide an opaque and potentially lucrative avenue for insiders.
