Trump net worth reaches 6.4 billion, becomes one of world's richest people

[Stranger in a strange land]

If Trump doesn't get a waiver to sell his shares now, he may nt have much when he's allowed to. Not sure who will want to invest in a company that loses $26M a quarter and only generates $1.1M in revenue.

How on Earth would such a company's be valued in billions?

I don't understand finance well enough to tell you how, but someone is scamming someone else or doing a pump & dump here.

[Crumpets]

https://twitter.com/Stocktwits/status/1774842249882325130

[Absentee Voting Ghost of Ruin]

If Trump doesn't get a waiver to sell his shares now, he may nt have much when he's allowed to. Not sure who will want to invest in a company that loses $26M a quarter and only generates $1.1M in revenue.

How on Earth would such a company's be valued in billions?

I don't understand finance well enough to tell you how, but someone is scamming someone else or doing a pump & dump here.

What, you don't understand why buying shares in the possible next President of the United States might be worth quite a bit?  It's one step removed from "Place Card In Slot To Bribe Trump". (That doesn't mean it will work mind you. He's corrupt, but he's also old, not guaranteed to win, bad at following through, and famously disloyal.)

Much like the answer to Donald's accusations against others is always, "it's projection", I'm starting to think than when it comes to Donald's business deals, the answer is, "it's money laundering".

[Independents for Nihilism]

https://twitter.com/Stocktwits/status/1774842249882325130

This translates to Trump himself losing over $1b in net worth as well

[GeorgiaModerate]

It will be hilarious if the stock is down to almost nothing by the time Trump can cash some out.

[Progressive Pessimist]

What an elaborate April Fool's joke!

[emailking]

https://twitter.com/harrylitman/status/1774909107977515475

[Landslide Lyndon]

You just hate to see it.

[Crumpets]

Is anyone here on Truth Social? What's it like nowadays?

Also, kind of says it all how little hope there is for a company that just got a massive influx of cash that nobody even seems to be considering advertising Truth Social or trying to make it a better product. Everyone knows this money is just going to Trump's legal bills.

[emailking]

I only go on it now to find specific Trump posts and it is massively painful. He posts on it more than he used to post on Twitter x2. And scrolling through posts on there is awful, both mechanically and emotionally.

[T'Chenka]

Is anyone here on Truth Social? What's it like nowadays?

I'm not, but I just want to throw this out there randomly for Atlas to consider:

People should really be calling it Troth (Truth) Sensial - Troth Sensial for short - as Trump has called it. The meme is too good. Saying "Truth Social" is boring and also doesn't mock Trump. No bueno.

https://twitter.com/RonFilipkowski/status/1518209203952881669

[Electric Circus]

It's a poorly moderated Mastodon fork with a small base of users. Lots of overlap with content creators on alt-media platforms like Rumble.

Strong boomer-book vibes from the site's small body of organic users. In part this is because Trump supporters who want a microblogging platform favorable to their politics are perfectly happy on Musk's Twitter.

Truth Social is more like BlueSky for Trump supporters than anything else, but the community is anemic enough that it's mostly just Trump's version of creedthoughts.gov.

[Amenhotep Bakari-Sellers]

Why do you care how much money he has it's not yours

[Yoda]

https://twitter.com/Stocktwits/status/1774842249882325130

Who's money is Truth Social burning through? It's certainly not trump's money, that's the one thing we know for sure.

[Minnesota Mike]

Who's money is Truth Social burning through? It's certainly not trump's money, that's the one thing we know for sure.

The IPO raised about $300 mill in operating cash for the company. That will keep the doors open for awhile but it's going bankrupt at some point, the question is whether Trump gets a chance to dump his shares before then.

[Meclazine for Israel]

Trump just posted this on:

Truth Social

https://www.instagram.com/reel/C4lbrUkLZ5w/

[emailking]

Trump's social media company sues co-founders, seeks to forfeit their shares
Trump Media & Technology Group filed the lawsuit in a Florida court.

Trump Media & Technology Group is attempting to force two of the company's co-founders to forfeit their shares and give up any claim to the company's leadership.

Trump's social media company filed the lawsuit against Wesley Moss and Andrew Litinsky -- co-founders and former Apprentice contestants -- in a Florida court on March 24, two days after shareholders overwhelmingly voted to approve the company's merger.

The lawsuit alleges that Moss and Litinsky "failed spectacularly" in their leadership of Trump Media, made "reckless and wasteful decisions," and caused "significant damage" to the company.

Trump Media asked a Florida court to force the co-founders to forfeit their shares of the company, declare that the two have no right to appoint members to the company's board, and award damages for their breach of their fiduciary duty.

https://abcnews.go.com/Politics/trumps-social-media-company-sues-founders-seeks-forfeit/story?id=108772455

[GeorgiaModerate]

https://twitter.com/hugolowell/status/1775511158012711063

[Electric Circus]

https://twitter.com/hugolowell/status/1775511158012711063

The Post has a related report from a couple of years ago. Dubious money from top to bottom.

Arc Capital, an investment advisory firm based in Shanghai, has repeatedly helped create or finance companies with little or no revenue, no customers and office locations that point to P.O. boxes, according to a Washington Post review of regulatory and court filings. One claimed to be developing autonomous drone software despite having no employees; another said it operated a publicly traded in-home bakery “specializing in freshly-made cakes and cupcakes” before saying it pivoted into touch-screen technologies for a “diversified blue-chip client base,” regulatory filings show.

[...]

This year, Arc helped create Digital World Acquisition, an investment vehicle that has raised over $1.2 billion to conduct a merger with Trump Media and Technology Group. Digital World is what’s known as a special purpose acquisition company, or SPAC, a type of shell business that raises money from investors to acquire a private start-up with strong growth prospects. The deal, which still must be approved by shareholders and regulators, has the potential to enrich the former president and turn his nascent social media start-up into a public company overnight.

[GeorgiaModerate]

https://twitter.com/mluckovichajc/status/1775267896597561668

[Meclazine for Israel]

"He should have renamed Truth Social to 'Trumpet'"

Elon Musk, 2023.

[GeorgiaModerate]

"He should have renamed Truth Social to 'Trumpet'"

Elon Musk, 2023.

Potential slogan: Trumpet?  Dump it!

[oldtimer]

Who's money is Truth Social burning through? It's certainly not trump's money, that's the one thing we know for sure.

The IPO raised about $300 mill in operating cash for the company. That will keep the doors open for awhile but it's going bankrupt at some point, the question is whether Trump gets a chance to dump his shares before then.

My short term judgement about DJT:

If Facebook is worth 1.33 Trillion, almost every social media company is worth a fraction of that in today's stock bubble.

Also all available shares have already been short-selled, there is nothing left, which makes it vulnerable to a short squeeze.

[Joe Republic]

Elon Musk certainly knows a thing or two about tanking the value of a social media company.

[Meclazine for Israel]

Trump Receives an A+

https://www.instagram.com/reel/C2PhL_9ImIR/