Hedge fund manager Boaz Weinstein was a major investor in Digital World. Digital World is a special purpose acquisition company (SPAC) formed for the purpose of acquiring another company. As is common in SPAC arrangements, investors put their cash in before the acquisition target was chosen. Trump announced the new company this week, saying it would launch a right-wing rival to Twitter called Truth Social. One unnamed investor who held 10 percent of the company told the Financial Times he sold everything as soon as he could. It's not clear if that investor was also Weinstein.
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