‘Don’ stox rise amid charges

Donald Trump and his social media platform could reap a $100 million windfall as a result of his historic indictment.

Shares of the special purpose acquisition company (SPAC) created to take Trump’s media company public soared by as much as 10% in premarket trading Friday.

The stock price of Digital World Acquisition Corp., which closed at $13.06 on Thursday, was trading as high as $14.44 during Friday’s session on Wall Street. It closed up 7.5% on the day.

When DWAC and Trump Media and Technology Group eventually merge, the former president is in position to hold 73.3 million shares, according to Securities and Exchange Commission filings cited by Forbes.

At $13.06 a share, Trump’s stake is believed to be worth an estimated $957 million. With the stock price ticking up to $14.44 a share during midday trading on Friday, the value of Trump’s stake jumped to $1.058 billion.

The Justice Department and the Securities and Exchange Commission are probing if DWAC broke the rules by negotiating the acquisition of Trump’s firm before the SPAC began offering shares to the public.

Meanwhile, Trump’s campaign announced Friday he had raised $4 million toward his 2024 presidential run since Thursday.