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.”
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.