Donald Trump’s social media company, Truth Social, is set to go public – potentially netting the former US president $3bn.

It means Trump Media & Technology Group, whose flagship product is the social networking platform, will soon begin trading on the Nasdaq stock market.

It comes after Acquisition Corp, a publicly traded shell company, approved a deal to merge with Mr Trump’s media business in a Friday vote.

The deal values his majority stake in the company at about $3.6bn (£2.8bn).

The windfall could prove vital as Mr Trump grapples with the financial fallout of a string of legal cases against him, including a $454m judgment in a civil fraud case in New York.

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