Connect with us

News

Digital World Acquisition Corp Shareholders Approve Merger with Trump Media & Technology Group

Digital World Acquisition Corp Shareholders Approve Merger with Trump Media & Technology Group

Published

on

Digital World Acquisition Corp (DWAC) shareholders have voted to approve the merger with Trump Media & Technology Group (TMTG), the parent company of the Truth Social platform. The decision paves the way for the combined entity, Trump Media, to become a publicly traded company under the stock symbol DJT.

The merger has been a topic of debate among shareholders, with some expressing concerns about the potential risks and rewards of the deal. However, the vote ultimately passed, with the majority of shareholders in favor of the merger.

Donald Trump stands to make a significant amount of money from the merger of Digital World Acquisition Corp (DWAC) and Trump Media & Technology Group (TMTG). The value of Trump’s shares in the merged company could be worth around $3 billion or more, depending on the opening share price.

The merger could potentially net Trump an eventual windfall of $3 billion or more, which could be a large source of cash for him, especially considering his current legal issues and the need to secure a $454 million civil fraud judgment against him.

Advertisement

However, it’s important to note that the value of Trump’s shares in the merged company would be affected by any drop in DWAC’s share price. Additionally, several lawsuits recently filed over the merger’s terms could ultimately affect the allocation of shares to people who played key roles in setting the merger in motion in late 2021.

The newly formed company is expected to have a board of directors that includes several individuals close to Trump, such as his son Donald Trump Jr., former wrestling company executive Linda McMahon, and Trump’s former trade representative Robert Lighthizer. This board could potentially allow Trump to sell shares earlier than planned, providing him with additional liquidity.

The merger is a significant milestone for Truth Social, which was launched as a way for Trump to connect with his followers after being banned from major social media platforms following the January 6th attack on the US Capitol. While Trump has a smaller following on Truth Social compared to his previous presence on platforms like Twitter, the merger with DWAC and the subsequent public listing could help bolster the platform’s growth and reach.

The SEC had previously charged DWAC with making material misrepresentations in filings related to the merger, but the company reached an $18 million settlement with the SEC last year. Despite the challenges and controversies, the merger between DWAC and TMTG is now set to move forward, potentially reshaping the social media landscape and providing a new platform for political discourse.

Advertisement
Continue Reading
Advertisement

News

Chesterfield City Council Approves Mammoth $353 Million Tax Increment Financing for ‘Downtown’ Redevelopment Project

Chesterfield City Council Approves Mammoth $353 Million Tax Increment Financing for ‘Downtown’ Redevelopment Project

Published

on

In a move that has stirred both excitement and controversy, the Chesterfield City Council has given final approval for a massive $353 million tax increment financing (TIF) package for a significant redevelopment project in the southwest quadrant of the city. This monumental decision marks one of the largest TIFs ever granted in the region, underscoring the city’s ambitious vision to transform the area into a vibrant downtown district.

The TIF, which encompasses 241 acres and includes the Chesterfield Mall property, Wildhorse Village, and a portion of Central Park, aims to revitalize the region by creating a dense, mixed-use urban development. The project, dubbed “Downtown Chesterfield,” is expected to add more than 1 million square feet of commercial, residential, and entertainment space, attracting new businesses and residents to the area.

Despite the excitement surrounding the project, the decision has not been without controversy. The Parkway School District, in particular, has voiced strong opposition to the use of TIF for the project. The district is concerned that the influx of new residents from the residential developments within the project will strain the school system, while the TIF diverts revenue that could have been used to support the education of these students.

Advertisement

“While we are pleased there is a plan for this area of Chesterfield and always welcome new students, the development does not provide adequate financial resources to educate the hundreds of potential new students it will generate,” said a Parkway School District representative.

The city, however, maintains that the project will ultimately benefit the school district and other taxing entities by increasing the tax base and allowing for the completion of necessary infrastructure projects. Former mayor John Nations pointed out that the city’s last TIF, following the flood of 1993, was one of the most successful in the country.

“This will provide an increased sales tax base and allow the city to complete a number of necessary infrastructure projects such as a North Outer 40 connection to Chesterfield Valley, pedestrian and multi-modal connections to provide safe connectivity, the Clarkson Road/Baxter exchange, and reconstruction of Chesterfield Parkway,” said Franke, speaking on behalf of the Progress 64 West board.

Advertisement

In addition to the infrastructure improvements, the project has garnered support from local businesses and residents who believe it will bring much-needed economic growth to the area. The redevelopment is expected to attract more than $2 billion in investment, transforming the region into a bustling downtown hub.

However, the city council’s decision has not been universally popular. Critics argue that the use of such a large TIF for a single project is a risky gamble, potentially leaving the city and its residents to bear the brunt of any financial shortfalls.

2024 Budget Chesterfield Missouri

Advertisement
Continue Reading

News

Stolen 18-Wheeler Rams into Texas DPS Office, Injuring Over a Dozen

Stolen 18-Wheeler Rams into Texas DPS Office, Injuring Over a Dozen

Published

on

In a shocking incident that took place in Brenham, Texas, an 18-wheeler truck was intentionally driven into a Texas Department of Public Safety (DPS) office, resulting in severe injuries to more than a dozen people. The truck, which was reported stolen, caused significant damage to the DPS building, with reports indicating that the front of the office suffered major structural damage.

The incident occurred around 10:41 a.m. on April 12, 2024, when the stolen 18-wheeler crashed into the DPS office in Brenham, a town located about 75 miles west of Houston. The driver of the truck was reported to have intentionally targeted the building, leading to immediate speculation about the motive behind the attack.

At least 16 people were injured in the incident, with three individuals being critically injured and flown to nearby hospitals for urgent medical care. The driver of the truck, who has been identified as a suspect, was taken into custody. The Texas Rangers are currently investigating the incident, with no ongoing threat to the public.

Advertisement

Texas state Sen. Lois Kolkhorst described the act as a “deliberate, heinous act,” emphasizing the severity of the situation. DPS officials have stated that no DPS employees suffered serious injuries, although one staffer was trapped “for a period of time” within the building.

The Texas DPS is a critical state law enforcement agency that includes state troopers who are central to the massive border security operation on the U.S.-Mexico border, as well as the Texas Rangers, the state’s top criminal investigators. The attack on the DPS office has raised concerns about the safety and security of law enforcement personnel and facilities in Texas.

Investigators have advised people to stay away from the area as the investigation continues. DPS officials have asked the public to avoid the area, and the Texas Rangers are leading the investigation into the crash.

Advertisement

This incident has left the community in shock and has prompted calls for increased security measures to protect law enforcement personnel and facilities in the state. The motive behind the attack remains unclear, and authorities are working to determine the full circumstances of this tragic event.

Continue Reading

News

R.I.P. -The Life and Trials of O.J. Simpson

R.I.P. -The Life and Trials of O.J. Simpson

Published

on

O.J. Simpson, born Orenthal James Simpson on July 9, 1947, in San Francisco, California, was a prominent figure in American football and a widely recognized celebrity. He rose to fame as a professional football player and later became a broadcaster and actor. However, his life took a dramatic turn when he was tried for the murder of his ex-wife, Nicole Brown Simpson, and her friend, Ronald Goldman, in a highly publicized case that came to be known as the “Trial of the Century.”

Early Life and Football Career: Simpson’s journey to stardom began in his high school years, where he played football at Galileo High School in San Francisco. He later attended San Francisco City College (1965-66) before transferring to the University of Southern California (USC). At USC, Simpson set team records for yards gained by rushing in both 1967 and 1968, earning the All-American title in both years and playing in two Rose Bowl games. In 1968, he won the Heisman Trophy as the best collegiate player of the season.

Professional Football and Media Career: Simpson was selected as the number one draft choice by the American Football League’s Buffalo Bills in 1969. He was a premier running back known for his speed and elusiveness, setting a single-season record for yards gained rushing (2,003) in 1973. Injuries to his knees led to his trade to the San Francisco 49ers in 1978, after which he retired from professional football in 1979.

Advertisement

Simpson also had a successful media career, appearing in movies and television commercials. He was a regular spokesperson for the Hertz rental-car company, showcasing his charisma and charm.

The Murder Trial: On June 12, 1994, Nicole Brown Simpson and Ronald Goldman were found murdered outside Brown’s condominium in Los Angeles. O.J. Simpson, who was Nicole’s ex-husband, was arrested and charged with the murders on June 17. He pleaded not guilty and assembled a team of prominent lawyers to defend him.

Simpson’s trial began on January 24, 1995, and was one of the most widely covered events in television history. The prosecution presented a substantial amount of evidence, including DNA and blood evidence linking Simpson to the crime scene. However, Simpson’s defense team, led by Johnnie Cochran, argued that the evidence had been mishandled and that Simpson was the victim of a racially motivated police conspiracy.

Advertisement

On October 3, 1995, the jury found Simpson not guilty of the murders. The verdict was met with both celebration and outrage, reflecting deep divisions in American society.

Civil Trial and Aftermath: In a separate civil trial in 1997, Simpson was found liable for the wrongful deaths of Nicole Brown Simpson and Ronald Goldman. He was ordered to pay $33.5 million in damages to the families of the victims. Simpson’s public image was significantly tarnished, and he faced financial difficulties as a result of the judgment.

Later Life and Incarceration: In 2007, Simpson was arrested in Las Vegas and charged with several felonies, including kidnapping and armed robbery. He was convicted in 2008 and sentenced to a minimum of 9 years in prison without parole. Simpson was released from prison on parole in 2017.

Advertisement

Conclusion: O.J. Simpson’s life and career were marked by extraordinary success and devastating controversy. His football achievements and media career were overshadowed by the highly publicized murder trial in which he was acquitted, but later found liable in a civil trial. Despite his acquittal, Simpson’s public image was severely damaged, and he faced significant legal and financial consequences.

O.J. Simpson died Thursday after a battle with cancer April 10th 2024 with his family by his side. On April 10th, Orenthal James Simpson, succumbed to his battle with cancer. He was surrounded by his children and grandchildren. During this time of transition, his family asks that you please respect their wishes for privacy and grace. -The Simpson Family

Continue Reading

Trending

Copyright © 2024 Missourinetwork.tv | BigPlanetMedia