Former President Donald Trump is on the cusp of scoring a major financial bonanza – at least on paper.
As long as Trump Media & Technology Group’s share price doesn’t spectacularly implode before Tuesday’s closing bell, Trump is on track to receive another 36 million shares as the owner of Truth Social.
This milestone is on track to be hit after the market closes on Tuesday.
Even though Trump Media is losing money and Truth Social is very tiny, those new shares Trump is in line to receive would be valued at about $1.3 billion at current prices.
Trump’s net worth has been on a roller coaster ride ever since his social media company finalized its deal to go public late last month. The former president is the dominant shareholder in a stock that has been called a “meme stock on steroids.”
But it’s not 0? Trump is shit and this company is his latest scam, but you literally quoted that these shares are currently worth over a billion dollars.
Yes, unfortunately it is worth what the market will bear. Stans and those wanting to launder will keep it high enough that he will get a payday for nothing.
It would be great if the FTC, the SEC, and the FEC hammered him into the grave, but that won’t happen. IIRC the first two are looking into it, but not at the orange one himself. There are of course multiple lawsuits about this already from former company officers.
Some of the original money came from China in a deal that the FTC is looking at, and further cash came from a Russian that is also being investigated.
Currently.
It rebounded pretty significantly last week, from $22 to $35.
Last 4 years have taught me not to expect any sanity or justice with this shit again. I do not expect this to collapse.
Valued at, maybe. Worth? I’ll believe it when you can use them to buy over a billion dollars’ worth of Big Macs, or even sell them for enough to buy them.
It doesn’t really matter what it’s valued at. All that matters is what some Russian or Saudi oligarch decides they want to pay for it when they want to make Trump dance for them.
Maybe so, but Trump can’t cash out for six months, so they better have some good timing.