Reuters

Trump tightens grip on social media company after SPAC deal success

(Reuters) -Former U.S. President Donald Trump will be able to retain the ownership of his newly launched social media venture even if he chooses to make another White House run or is convicted by prosecutors who are looking into his business dealings. Trump said last week that TRUTH Social would be created through a new company formed by a merger of the Trump Media and Technology Group (TMTG) and blank-check firm Digital World Acquisition Corp. According to regulatory filings issued late on Tuesday, Trump was referred to as the “company principal,” even though the exact size of his stake in the company was not disclosed.