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President Trump is billions of dollars richer after shareholders in Digital World Acquisition Corp (DWAC) on Friday approved a merger with Trump's media startup, Truth Social.

The long-delayed merger adds roughly $3.5 billion to Trump's net worth – however the former president won't be able to sell any shares for at least six months unless the board waives it, raising questions over whether he'll be able to leverage it to secure a $464 million bond in his New York civil fraud case – which his lawyers say is "impossible" to secure due to a lack of cash on hand.

If Trump can't secure the giant sum, he risks the seizure of assets – which New York has already begun positioning itself to do.

Earlier this week, DWAC sued to force its former CEO, Patrick Orlando, to vote his 14.77% shareholding in favor of the merger, despite an ongoing dispute over compensation, Axios reports. Orlando was on the shareholder vote call.

Following the merger, DWAC will effectively cease to exist, and will be replaced by TMTG – which will be listed on the Nasdaq. Its board of directors will include Donald Trump Jr. as well as several former members of the Trump White House, the report continues. Former Rep. Devin Nunes (R-CA) will serve as TMTG's CEO.

Meanwhile, and perhaps in anticipation of Trump selling to satisfy the bond, DWAC shares have plummeted on the news to the tune of 8% in early trading.