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Tag: Republican presidential

  • Trump secures $3.5bn lifeline in battle to pay legal bills

    Trump secures $3.5bn lifeline in battle to pay legal bills

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    The former president has until Monday to pay a $454m legal bill – REUTERS/Sam Wolfe

    Donald Trump is due to be handed a $3.5bn (£2.8bn) payday as the Republican presidential contender faces a looming deadline to pay a huge legal bill, after his social media company passed the final obstacle to a Wall Street listing.

    On Friday, shareholders in Digital World Acquisition Corp, a listed cash shell, voted to approve a merger with Trump Media & Technology Group (TMTG), the company behind Mr Trump’s social network Truth Social.

    It means TMTG will join the Nasdaq exchange as early as next week. Mr Trump will own a majority of the combined company with a stake worth around $3.5bn.

    Mr Trump has until Monday to pay a $454m bond to a New York civil fraud case and authorities could seize his assets if he does not pay. He must pay the bond as he seeks to appeal a ruling that he fraudulently inflated the value of his assets.

    While he would not be able to sell his shares for six months, the merger of TMTG and Digital World may buttress Mr Trump’s finances.

    donald trump truth socialdonald trump truth social

    Mr Trump posts several times a day on Truth Social, which launched as a rival to Twitter in 2021 – AP Photo/John Minchillo

    The merger had faced late hurdles amid uncertainty over whether Arc Global Investments, Digital World’s largest shareholder, would support the deal. But Digital World secured enough support in a shareholder meeting on Friday.

    Shares in Digital World have surged by 145pc this year, a phenomenon believed to be in part due to Mr Trump’s voters buying up the shares as a show of support.

    TMTG and Digital World secured regulatory approval to go ahead with the deal last month, opening the door to the long-delayed merger.

    Truth Social, announced by Mr Trump in 2021 after he left office, is similar to Twitter, from which the former president was banned after the January 6 Capitol Hill riots.

    It allows users to send out short messages, reply and “re-truth” other people’s posts. Mr Trump typically posts several times a day on the service, despite his ban from Twitter being rescinded.

    TMTG lost $49m in the first nine months of 2023, while revenue rose from $237,000 in the first nine months of 2022 to $3.4m.

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  • Trump repeats 'poisoning the blood' anti-immigrant remark

    Trump repeats 'poisoning the blood' anti-immigrant remark

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    By Nathan Layne

    DURHAM, New Hampshire (Reuters) –Donald Trump, the Republican presidential frontrunner, said on Saturday that undocumented immigrants were “poisoning the blood of our country,” repeating language that has previously drawn criticism as xenophobic and echoing of Nazi rhetoric.

    Trump made the comments during a campaign event in New Hampshire where he railed against the record number of migrants attempting to cross the U.S. border illegally. Trump has promised to crack down on illegal immigration and restrict legal immigration if elected to a second four-year term in office.

    “They’re poisoning the blood of our country,” Trump told a rally in the city of Durham attended by several thousand supporters, adding that immigrants were coming to the U.S. from Asia and Africa in addition to South America. “All over the world they are pouring into our country.”

    Trump used the same “poisoning the blood” language during an interview with The National Pulse, a right-leaning website, that was published in late September. It prompted a rebuke from the Anti-Defamation League, whose leader, Jonathan Greenblatt, called the language “racist, xenophobic and despicable.”

    Jason Stanley, a Yale professor and author of a book on fascism, said Trump’s repeated use of that language was dangerous. He said Trump’s words echoed the rhetoric of Nazi leader Adolf Hitler, who warned against German blood being poisoned by Jews in his political treatise “Mein Kampf”.

    “He is now employing this vocabulary in repetition in rallies. Repeating dangerous speech increases its normalization and the practices it recommends,” Stanley said. “This is very concerning talk for the safety of immigrants in the U.S.”

    In October Trump campaign spokesperson Steven Cheung had dismissed criticism of the former president’s language as “nonsensical,” arguing that similar language was prevalent in books, news articles and on TV.

    When asked for comment on Saturday, Cheung did not directly address Trump’s remarks and instead referred to the controversies over how U.S. colleges are handling campus protests since Hamas’ Oct. 7 attack on Israel, saying media and academia had given “safe haven for dangerous anti-Semitic and pro-Hamas rhetoric that is both dangerous and alarming.”

    The “poisoning the blood of our country” language was not in Trump’s prepared remarks distributed to media prior to Saturday’s event, and it was not clear whether his use of that rhetoric was planned or adopted on the fly.

    Trump is the leading candidate for the Republican Party’s 2024 presidential nomination and has made border security a major theme of his campaign. He is vowing to restore the hardline policies from his 2017-2021 presidency, and implement new ones that clamp down further on immigration.

    President Joe Biden, the presumptive Democratic Party nominee, has sought to enact more humane and orderly immigration policies but has struggled with record levels of migrants, a problem seen as a vulnerability for his re-election campaign.

    On the campaign trail, Trump has repeatedly used inflammatory language to describe the border issue and slam Biden’s policies. On Saturday he recited the lyrics of a song he has repurposed to liken immigrants to deadly snakes.

    If re-elected, Trump promised “to stop the invasion of our southern border and begin the largest domestic deportation operation in American history.”

    (Reporting by Nathan Layne; Editing by Daniel Wallis)

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