Trump Media, the company majority-owned by ex-President Donald Trump, fell below $20 per share for the first time since it started publicly trading as DJT.
Trump owns nearly 59% of Trump Media’s stock. Even after losing much of its value, Trump’s stake at Wednesday’s stock price is still worth more than $2.2 billion — more than half of his on-paper net worth, according to Forbes.
Thats the best part! He can take out loans against that as collateral. Then when he inevitabley defaults and the banks finally acknowledge the collateral is worthless, we bail out the banks! Capitalism!
But he can still borrow against the value of those shares.
That’s how these parasites afford all their private jets and other insane luxuries. They just pull out loans against the value of their stock holdings, pay accountants to make sure it’s never a problem, and essentially spend their money while keeping it too.
It’s insane, because they essentially never have to pay taxes on anything but their personal income, and then you have grifters like musk who don’t even take salaries and just live off the loans.
Wait until the weird orange felon cashes out as soon he can, leaving all his poor investors with worthless TS stock that they mortgages their mobile homes for.
The deal would “guarantee access to additional capital, if necessary, to pursue big strategic opportunities as we look to build out our portfolio by acquiring assets and technologies in the Patriot economy,” Trump Media CEO Devin Nunes said in a July 3 press release
I recently approached a friend asking that they seriously consider whether we would have moral issues against getting in on the grift. There was that asshole who sold patriot beer for a huge, shitty markup when the budweiser thing happened. It wasn't even good beer. I said that we could put in incredibly little effort and make money off these rubes. My logic was that they were going to purchase stupid products like that anyway, so why not get their money ourselves.
We went back and forth on it. We concluded that we'd only create products that 1. did no harm to marginalized groups and 2. would end up leading cultists to tell on themselves. We agreed to let the idea percolate to see if we thought there were good opportunities worth our time.
An example of telling on themselves might be a tshirt that says, "Guess I'm deplorable," if it were 2016. We kicked around some contemporary phrasing. Nothing has been worth making the effort, so far.
Honestly, I think this is just a call for all Trump fans to do with this stock what Reddit did with Game stop. Buy and hold until Trump can legally sell his shares and burn the stock to the ground.
Yep. It's just another scam. Someone has to want to buy it from him. Those people will be left with something worthless, and Trump will walk away with their money.
Not unlike how he's made a lot of his other money.
Sadly there is no loss for him real or on paper. He only donated his name and usage rights to the company, any actual value came from suckers, and other REP. grifters. Even if each share is a cent by the time he sells, it's still just profit for him.
Now, if other shareholders could come together and agree that he acted against their interests, THEN he could conceivably lose money in a resulting suit.
The 2024 United States presidential election will be the 60th quadrennial presidential election, set to be held on Tuesday, November 5, 2024.
So he can start to dump it a month-and-a-half before Election Day.
This should be interesting.
I'd sort of imagine that if I were a True Believer who had put a lot of my money into Trump Media on the promise that Trump was going to make me rich, I might be a little irked if Trump bails out.
I seriously doubt almost any of the goons or money launderers or bribers that bought the stock have done so thinking they'll make much - or any - money.
I'm salty I never bought any of this stock. It's probably one of the easiest stocks to time properly to get a proper profit from. No use getting it now though, Trump killed it.