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.”
“meme stock on steroids” aka “a way to launder money to trump”. Just like the fake NFTs, the sneakers, bibles and all the other bullshit.
Trump is just a meme of capitalism. The stock market is just a front to launder money, and control people.
It’s crazy how apparent and in the open this all is and is just the “this is fine” meme
I’m convinced it’s the same “fuck you get mine” mentality that it always has been. turnip just is showing them how to play the game. these clownshoes all think they can be the next one to cheat their way to the top. new american dream everyone.
Maybe this is why I’m not a billionaire. I’ve never been good at cheating the system.
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As a publicly traded stock, I wonder if any journalist is working on tracking ownership of the stock. Certainly it will be time-consuming - a Russian plan to launder donations would use local-registered shell companies, I’d guess - but probably doable.
I think this example illustrates very well how detached from reality the stock market is: Truth Social is not an important social media platform and will probably never make a profit. Nevertheless, one can make an absurd amount of money with such a bogus company - but unfortunately only if one has the right friends and belongs to their circles.
In this sense, one almost has to be grateful to Trump because he makes the functional logic of this rotten system so obvious.
It’s market manipulation for money laundering purposes, nothing more.
It’s the high street version of putting an empty box for sale on eBay for 10000€.
This is it so much. It’s not even remotely about how the stock market is detached from reality… IT Always WAS!
To put in perspective how detached from reality Trump Media’s stock price is, the Truth Social platform’s total revenue is about the same as a single McDonald’s location.
Despite this, the company has a market cap of almost 5 billion. That is completely insane.
Sorry to say, but this one goes well beyond the current fuckery of the existing Stock Market.
This is the biggest money laundering scheme ever run in public view. The only thing propping up any price for Truth SOcial are those with a vested interest in paying off The Donald and putting the GOP in power; Saudia Arabia and Russia - with just a splash of China. Follow the money.
Possibly. Or a really creative way of bypassing campaign finance laws.
Surely you can’t add 36 million shares without impacting the share price, and the diluted per-share value impacts every stock he owns, not just the new ones.
I don’t know how the math pencils out but I would be surprised if the value of his total ownership stake increases by a billion dollars with all that math working against it.
The distribution itself shouldn’t cause a large drop in the per share price since the market is aware of this coming and would view it as a high probability of happening based on current prices. Otherwise this would be the easiest short term short ever.
Even if he makes a billion, the two judgments against him is like ~$700 million. The other trails fines and legal fees will be in the billions as well.
Nah, the GOP and PACs will pay for it all. Trump’s a drifter, he doesn’t pay his bills.
Haven’t you heard?! The GOP is broke as well. Trump has more money than they do at the moment.
diaperbaby: here’s our new collateral for the appeal bond
ny ag: lol no
Does current value take into account the amount of people will to buy at a certain price? Like, if people are buying at $49 per share, the value should be $49. But what if that’s only for 10,000 shares? Those shares are worth 500,000. But then if the next people are only willing to buy for $20 per share, that’s the new value.
But if they’re looking at how much 1,000,000 shares are worth, are they looking at current buying price or how much people are willing to pay for 1,000,000 shares?
In a functional stock market price is dictated by supply and demand… we no longer have that.
