Trump’s Tech SPAC Could Make Him Billions With Meme-Stock Frenzy
- New venture is valued at $8.2 billion after surge in shares
- Investors look past questions over the planned media empire
Donald Trump during a rally at the Iowa State Fairgrounds, on Oct. 9
Photographer: Scott Olson/Getty Images
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Donald Trump’s sagging fortune is suddenly poised to get a massive boost from meme-stock mania.
News late Wednesday that the former president’s nascent media enterprise, Trump Media & Technology Group, is planning to go public via a special purpose acquisition company has sent retail investors into a frenzy, even with few details released. The stock gain drove the implied value of the new venture to more than $8.2 billion.