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Donald Trump’s Truth Social takes Wall Street by storm, hits $8 billion as it goes public

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Former US President Donald Trump’s social platform, Truth Social, has made its debut on the public market, and the valuation of the network has soared to nearly $8 billion since then.

Donald Trump's newt worth surges, as he enters into the world's 500 wealthiest people for the first time. REUTERS/Alyssa Pointer/File Photo(REUTERS)
Donald Trump’s newt worth surges, as he enters into the world’s 500 wealthiest people for the first time. REUTERS/Alyssa Pointer/File Photo(REUTERS)

The Trump Digital World Acquisition Corp SPAC, which merged with Trump’s enterprise game business, has seen its stock rising since the start of this year. The deck of Trump Media & Technology Group into the market recorded a 15 per cent increment by the finish of the day.

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The newly public company will be listed under the “DJT” ticker symbol, which stands for Donald J. Trump. The opening of that market has been very instrumental in upping Trump’s net worth to enter the list of the world’s 500 wealthiest people for the first time, adding to his coming $4.6 billion fortune, according to Bloomberg.

ALSO READ| Donald Trump’s social media company Truth Social soars over 30% on first day of trading on Nasdaq

The trading journey for Trump Media was not without its challenges

Such high volatility made trading so frequent that it had to be stopped on Tuesday until the share price stabilized. At one stage, though, the share price had leapt up by an incredible 50%.

In the case of the Trump Organization, where the president is not permitted to sell his stocks as of the present time for legal reasons, this could be a deciding factor for the profitability of the holding. He may become a multi-billionaire should the stock continue to be appreciated at the high level currently being recorded for a future sale.

Trump expressed his enthusiasm for the platform, stating, “I LOVE TRUTH SOCIAL,” on the very network that celebrated its listing on the Nasdaq.

Just as the ex-president is dealing with a legal case where he is being required to pay $454 million due to a civil fraud commitment, this economic advancement reveals the stage at which Americans are now. Still, the judge trend that will not enable him to get a $175 million bail in the proceeding ten days.

Through the fabulous launch, the platform has sadly been experiencing many challenges since its foundation and has just earned approximately $5 million so far since 2021.

ALSO READ| Donald Trump is one of world’s 500 richest people. His net worth is…

SPACs work exactly in this way, as they raise private capital through IPOs and then identify with a company to list it on the market. Eventually, SPAC sets its terms and conditions and the latest corporation happens to merge with the SPAC company that is introduced to the stock market. The implementation of this regulation is a way for both entities to get a chance to gain. While the first SPAC investors have the right to get back the money if they can’t tolerate the fusion, it is against the spirit of SPAC as they risk their money for securing the initial idea’s future.

Devin Nunes, who is the former GOP member of Congress, Stafford and the present Trump Media CEO, commented on the company’s public status, saying, “As a public company, we will passionately pursue our vision to build a movement to reclaim the internet from big tech censors.”



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Slack co-founder Stewart Butterfield’s missing daughter ‘at risk’ due to ‘previous threat of suicide,’ cops say

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The runaway daughter of Slack co-founder Stewart Butterfield is believed to be “at risk” because of a “previous threat of suicide,” police have said. 16-year-old Mint Butterfield was reported missing earlier this week. The teen, who is non-binary and uses they/them pronouns, reportedly fled their mother’s home in Bolinas, California.

Slack co-founder Stewart Butterfield’s missing daughter, Mint Butterfield, ‘at risk’ due to ‘previous threat of suicide,’ cops say (Marin County Sheriff's Office)
Slack co-founder Stewart Butterfield’s missing daughter, Mint Butterfield, ‘at risk’ due to ‘previous threat of suicide,’ cops say (Marin County Sheriff’s Office)

Flickr founder Caterina Fake, Mint’s mom, alerted authorities after finding a letter they had left behind. It is believed Mint could have been on her way to San Francisco’s very dangerous Tenderloin District neighbourhood.

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“At this time, we have no information to believe that Mint was taken against their will. The Sheriff’s Office is considering Mint a voluntary-missing juvenile, who is “At- Risk” due to a reported previous threat of suicide,” a statement by the Marin’s County Sheriff’s office read.

How did Mint Butterfield leave the area?

Mint fled the house with a suitcase “during the night or early morning,” according to authorities. “Fake and Mint also share a home in San Francisco, and it is believed, based on statements from Fake, that Mint may have left for the Tenderloin District of San Francisco,” the statement says.

The sheriff’s office also noted that Mint did not have access to a phone or any kind of vehicle, so it is unclear how they left the area. The San Francisco Standard reported that Mint has a history of substance abuse. They had been living with their mother before they went missing. Mint was enrolled at a private school in the Napa area.

Mint was known for having frequently visited the Tenderloin area. The area is notorious for open-air drug markets, homelessness, and violent crimes.

“Marin County Deputies entered Mint into the Missing and Unidentified Persons System (MUPS) and sent out All Points Bulletin flyers to surrounding law enforcement agencies with a description and photograph of Mint,” the sheriff’s office said.

It added, “In collaboration with San Francisco Police Department, detectives from both agencies have attempted to find Mint, but have been unable to locate them.”

Mint’s father, Stewart, co-founded Slack back in 2013. He left the company after it was acquired by Salesforce for $28 billion in 2021.

The sheriff’s office has urged people with information on the incident or Mint’s whereabouts to contact the Marin County Sheriff’s Office at (415) 479-2311 or email tips@marinsheriff.org.

Discussing suicides can be triggering for some. However, suicides are preventable. If you or someone you know is considering suicide, please contact the National Suicide Hotline at 1-800-273-TALK (8255).



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KKR vs PBKS, IPL 2024: Catch all the action in images

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Published on Apr 27, 2024 12:11 AM IST

  • PBKS defeated KKR by eight wickets in their IPL 2024 fixture, on Friday at Eden Gardens in Kolkata.

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Punjab Kings defeated Kolkata Knight Riders by eight wickets in their IPL 2024 fixture, at Eden Gardens.(PTI)
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Published on Apr 27, 2024 12:11 AM IST

Punjab Kings defeated Kolkata Knight Riders by eight wickets in their IPL 2024 fixture, at Eden Gardens.(PTI)

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Chasing 262, PBKS reached 262/2 in 18.4 overs, courtesy of an unbeaten ton by Jonny Bairstow. Bairstow smacked an unbeaten knock of 108* runs off 48 balls and Shashank slammed 68* off 28 deliveries.(AP)
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Published on Apr 27, 2024 12:11 AM IST

Chasing 262, PBKS reached 262/2 in 18.4 overs, courtesy of an unbeaten ton by Jonny Bairstow. Bairstow smacked an unbeaten knock of 108* runs off 48 balls and Shashank slammed 68* off 28 deliveries.(AP)

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For KKR's bowling department, Sunil Narine took a wicket.(PTI)
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Published on Apr 27, 2024 12:11 AM IST

For KKR’s bowling department, Sunil Narine took a wicket.(PTI)

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Initially, Phil Salt (71) and Narine (71) took KKR to 261/6 in 20 overs.(KKR-X)
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Published on Apr 27, 2024 12:11 AM IST

Initially, Phil Salt (71) and Narine (71) took KKR to 261/6 in 20 overs.(KKR-X)

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For PBKS' bowling department, Arshdeep Singh took two wickets.(ANI)
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Published on Apr 27, 2024 12:11 AM IST

For PBKS’ bowling department, Arshdeep Singh took two wickets.(ANI)



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UWW threatens to suspend WFI and India’s wrestlers too

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Ten days after sports ministry told the Delhi High Court that it will neither recognise nor provide any support to Wrestling Federation of India (WFI), United World Wrestling (UWW) has warned that government interference could lead to WFI being suspended again. This time, the suspension could extend to the wrestlers as well.

Nenad Lalovic during the ASOIF General Assembly earlier this month(Getty)
Nenad Lalovic during the ASOIF General Assembly earlier this month(Getty)

In a strongly-worded letter signed by UWW president Nenad Lalovic, wrestling’s global governing body has reiterated its determination to uphold WFI’s independence and autonomy.

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“We have been informed that the Wrestling Federation of India is once again threatened by your Ministry of Sports with the imposition of an ad hoc committee to oversee its affairs,” UWW wrote.

“In case any decision or order should be made against your federation, and a third party be designated to run the daily affairs of our sport in India in violation of the UWW Statutes, UWW would have no other option than to re-impose a temporary suspension of your federation until further notice, and which, this time, could maybe include your athletes.

This suspension would apply to the final Olympic Games Qualifying Tournament in May, and will certainly attract the attention of the IOC on this matter, who may also consider further action,” UWW noted.

On Wednesday, a day before UWW’s letter, WFI appointed the Athletes Commission in accordance with the world body’s demand. Former Commonwealth Games gold-medallist Narsingh Yadav was elected chairman of the commission.

Ban lifted in February

UWW had placed the WFI under provisional suspension in August 2023 after WFI’s continued delay in holding elections. The ban was lifted this February. A month later, Indian Olympic Association (IOA) reinstated WFI and dissolved the three-member ad hoc committee constituted to run the sport.

WFI, however, continues to remain under suspension since last December by the ministry. Earlier this month, the ministry told the Delhi High Court that it might review the suspension only after there is visible improvement in WFI’s governance.

The ministry, in the affidavit filed through standing counsel Anil Soni, added that it would treat any national championships or competitions organised by WFI as unsanctioned and unrecognised. The Sanjay Singh-led WFI has held national championships as well as selection trials for the Olympic qualifiers.

“It is further submitted that the Ministry is continuously monitoring the governance of the WFI and at present does not deem it appropriate at this stage to review its decision dated 24/12/2023. Any review will be undertaken only after marked and visible improvement its governance, demonstration of compliance of UWW’s order and IOA’s order dated 18.03.2024 and steps taken Expiry Date 15/03/2025 WFI with regard to its democratic functioning, adherence to the Government guidelines aiming towards good governance practices including grievance redressal mechanism and safety of wrestlers,” the ministry had told the court.

In an earlier hearing this month, the court had considered setting up an ad hoc committee for running WFI.

“UWW’s letter must be taken very seriously. WFI is an autonomous body and there is no need for ministry’s suspension or interference,” Sanjay Singh said.

“The fact that UWW’s ban may extend to the wrestlers is a first in our history. The government must allow us to function independently,” a senior WFI official said.

While WFI continues to grapple with the government, Indian wrestlers’ performance has been a major cause of concern. At the Asian Olympic Qualifiers in Bishkek last week, Indian bagged quotas through Vinesh Phogat (50kg), Anshu Malik, (57kg) and Reetika (76kg), adding to Antim Panghal’s 53kg berth. The male wrestlers, both freestyle and Greco Roman, drew a blank.



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