Originally published at: https://boingboing.net/2024/04/17/trump-medias-stock-price-slumps-another-14-but-hes-still-set-to-make-a-fortune-dumping-it.html
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The stock is a scam, he’ll dump it, some rich billionaires will buy it as a way to wash money into his account as bribes.
The systems like the stock market, and courts have become comically corrupt. Presidents don’t need to win the popular vote, gerrymandering has taken away power from voters.
It’s like an Adam Curtis documentary.
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I look forward to their buddy cop flick starring Gina Carano and Rob Schneider where they hunt down Antifa, and crack jokes about lady drivers and not wearing a nice watch in a minority neighborhood.
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How is this disgusting dipshit STILL failing upward? He’s karmic teflon and it’s infuriating 
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Consider that even if it ends up a penny stock by the time he can sell, Trump is still set to make tens of millions of dollars dumping his equity in the company
While that’s a lot of money, that won’t cover a fraction of some of the judgements he owes to his victims. That’s not to say he’ll pay them, but it will be easier to force the issue if he isn’t in the White House. So vote!
I do think penny stock is the more likely scenario. It’s only been a month and: they’re already diluting the stock; he’s already suing two of the executives; and now they’re placing an expensive bet against Murdoch, an actual billionaire who’s competent in selling fascism through his media outlet.
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Not just Murdoch - if they add dating and banking, they can turn Truth Social into the everything app that will make Musk’s Twitter look almost credible.
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“there’s still a strong possibility he’ll become, apparently for the first time, a true liquid billionaire.“
He’ll be the King of the Commissary!
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Bounced up nearly 13%.
Dumping in progress.
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Oh, they’re “pivoting to video” - they’re saved! (LOL) If “pivot to video” weren’t already a joke, it would be now. Boy, their hosting costs are going to go up quite a bit… I guess it doesn’t matter, because the company only has to last until Trump can dump his stock, and ideally until the election (though Trump can just switch back to Twitter at this point and probably will).
Oh, but they’re not going to produce anything, they’re just going to stream existing content. Although if someone wants to produce something for Truth, just to get their advertising cut from the dozens of views it’ll get, Truth would be happy to host it.
Actually I’m wondering if Truth itself will host any of this stuff, or it’ll be some third party site(s) - seems like a lot of expense for very little benefit for Truth. I’m expecting that within a short time (probably measured in months), whoever is hosting it will go under and take all the content with them. Hell, I wouldn’t be entirely surprised if the deal involves all the people providing video to host it themselves, and Truth would just be a front-end where you could watch it…
Yeah, it’s galling to think of Trump getting any money from this scam, but compared to the cash flow going through Trump’s accounts at the moment, tens of millions is nothing. I mean, he’s spending about $100K each day on legal fees. By the time he can cash out, the money will have already been spent on his lawyers.
The barriers to them even trying financial stuff are insurmountable, and frankly the infrastructure they’d need for a dating app is beyond them as well, but maybe they could buy up (for nothing!) one of those failing right-wing dating sites… and finish driving it into the ground.
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Guess the Saudis are buying in today …
Or the Russians, Musk or all three.
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Estimate - it’ll be down in the teens by the time he sells, and that sale will cause an immediate collapse, giving him a average per share return of, being generous, 10 bux.
He owns 78,750,000 shares. So yes, he’ll rake in nearly 800 million. 37% goes to short term capital gains tax. So he’s left with $504,000,000. That’s not enough to cover his court liabilities and legal fees. It’s more than he’s got now. But it won’t save him.
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This is exactly the type of investment that is easy to garnish directly when time comes to sell. Clearing houses do not want the kind of federal investigation that would occur if the money went straight into his pocket if there is a lien against the accounts.
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