Donald Trump's Truth Social and its Florida headquarters. What to know

Former president and Florida resident Donald Trump cleared at least one hurdle Friday toward a major payday after the merger between his Sarasota-based Truth Social and a Florida shell company was approved by shareholders.

Although Trump's home is in South Florida's Mar-a-Lago, his business holding Trump Media & Technology Group – the parent of social media platform Truth Social – is headquartered on the state's Gulf Coast.

With the merger going forward and expected to be completed as soon as next week, Trump could see a windfall to the tune of over $3 billion.

Here's what you should know about the former president and current Republican presidential nominee's Florida business entanglements:

What is Trump's social media company?

Truth Social began in 2021 after Donald Trump was banned from multiple social media networks, including Twitter (now known as X) over concerns that his posts had incited the Jan. 6, 2021 storming of the U.S. Capitol in an attempt to overturn the election after his loss to Pres. Joe Biden.

Where is Donald Trump's Truth Social located in Florida?

Truth Social, the Twitter-like social media platform owned by Trump Media & Technology Group Corp., is based out of an office on Cattlemen Road in Sarasota.

Trump's company has been in Sarasota since April of 2023, according to state records, signing a lease through 2026, the Sarasota Herald-Tribune reported last year.

Reports at the time said there didn't appear to be much activity inside the non-descripted and unmarked office and that there were no outward indications Truth Social is even there.

Why might the company be in Sarasota?

Sarasota has become somewhat of a bastion of conservative politics.

Another conservative media company, Rumble Media, is located not far from Truth Social on Longboat Key. The company said in a statement this month that the Florida is the home of "high-growth culture anchored in American values.”

Former Florida Republican Party chair Christian Ziegler is also from Sarasota, where his wife, Moms for Liberty co-founder Bridget Ziegler, serves on the Sarasota County School Board. Ziegler was removed from the party chairmanship earlier this year facing rape allegations. Ziegler was not charged or prosecuted.

What is Digital World Acquisition Corp.?

Digital World Acquisition Corp. is what's known as a special purpose acquisition company, or an SPAC based in South Florida. SPACs are public companies created to acquire an existing targeted company.

DWAC was formed on December 11, 2020, just around a year before the announcement that they would be merging with Trump Media & Technology Group, the parent company of Truth Social. Legal troubles have ensued since the announcement as federal regulators have disapproved of companies having premediated merger targets.

What could Donald Trump gain from the Florida-based merger?

The merger could come at a crucial time as Trump must post a $454 million bond required if he wants to appeal a New York ruling that he and his Trump Organization ran a financial fraud scheme centered on inflated valuations of his real estate assets.

Can I buy Truth Social stock?

Truth Social stock cannot be bought unless the merger is formally finalized in the coming week. Stock in the publicly traded shell company that Truth Social is merging with can be purchased for DWAC had opened the trading day Friday at $44.20 per share and hovered around $40 per share by mid-afternoon.

Once the stock enters the public market, it will be traded under the former president's own initials, DJT.

Who are Truth Social members?

According to filings with Florida's business directory Sunbiz, Donald Trump himself is the chairman of Trump Media and Technology Group. Devin Nunes, a former Republican congressman from California, is listed as the company's CEO and President. Donald Trump Jr. is listed as a title director on the filings.

This article originally appeared on Florida Today: Truth Social merger in Florida. What to know about Trump venture