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America First Audit

He said it in public. These are the documents on what happened next. Browse all records.

Why these cases

Trump sold “America First.” This record traces how public money, power, and risk moved toward family businesses, donors, favored firms, and foreign governments: and what workers, ranchers, retirees, patients, veterans, and small investors were left to absorb.

Said vs. done

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Case 168 of 254

Trump Media Earnout Shares

Actions
documentedTrump Media determined the conditions were satisfied and issued the earnout shares to Trump.U.S. Securities and Exchange CommissionRead record · 1 source
Outcomes
reportedTrump's disclosed beneficial ownership increased through the earnout issuance.AxiosRead record · 1 source
People and impacts
Who gained
Who paid or was affected
  • Trump Media
Promise and assessment
The promise
documentedThe merger agreement promised former Trump Media owners additional shares if specified market-price conditions were met.U.S. Securities and Exchange CommissionRead record · 1 source

Promise unresolved

The merger's price-trigger mechanism increased Trump's controlling stake without a new cash purchase; the shares' market value remained unrealized and volatile.

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