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Trump takes advantage of SPACs to fund social media plans

Former President Donald Trump is planning to launch his own social media company after he was booted from Twitter and Facebook in January for inciting violence. He’s using a SPAC, a trendy Wall Street vehicle, to finance the venture.

MSNBC anchor and economics correspondent Ali Velshi explains how SPACs work and what it means that Trump is relying on one.

This article was originally published on WBUR.org.

Copyright 2021 NPR. To see more, visit https://www.npr.org.

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