#Disney secured enough shareholder votes to defeat a challenge against its board mounted by #NelsonPeltz's hedge fund #Trian Fund Mgmt.
Enough votes were cast as of Tues night to put Disney's board of dirs safely ahead of Trian's 2 challengers, that included #Peltz & fmr Disney CFO Jay Rasulo, per sources.
#NelsonPeltz is the billionaire & #GOP#megadonor who on the day the #Jan6#insurrection, disavowed #Trump, calling it a “disgrace” & apologized for voting for Trump.
But earlier this month, #Peltz had breakfast w/Trump & other billionaires — including hotelier #SteveWynn, #ElonMusk, & fmr Marvel chair #IsaacPerlmutter — at Peltz’s “luxurious oceanfront mansion” in #Florida. Peltz then told the FT that he would “probably” vote for Trump in 2024.
Yes, the company went public. No, it is not a financial success—or even a lifeboat.
Debuting on the charts w/a “DJT” ticker, #TrumpMedia saw a 55% surge in valuation right after markets opened.
Huge influx of cash, right? w/Trump holding ~79M shares, equating to 58% of available stock, the #SPAC debut balloons his #NetWorth by nearly $5B; there were ~136M shares outstanding post-merger.
You may be wondering just whence that staggering #valuation arises,then. There are a couple factors at play—namely, rich friends & retail-level suckers.
…As a #ShellCompany established w/the express purpose of gathering #investments & absorbing them into the minimally operational #TrumpMedia, #DWAC curried investments from all manner of private institutions,most significantly #SIG… meaning #JeffYass, the #Republican#megadonor who’s been floated as potential #treasury sec if #Trump is reelected.
The #transaction is the first known instance of #money flowing from Crow to the #SupremeCourt justice. The sale netted the #GOP#megadonor two vacant lots & the house where Thomas’ #mother was living (& still is).