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.
  • FiremanEdsRevenge@lemmy.world
    892·
    4 months ago

    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.

    Yea, I call bullshit on that.

      • MiltownClowns@lemmy.world
        59·
        4 months ago

        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!

      • ikidd@lemmy.worldEnglish
        8·
        4 months ago

        Not if there’s a state actor or two to keep buying. I wonder who that would be…

      • ripcord@lemmy.world
        4·
        4 months ago

        Since the stock price is based on fee-fees, grift, bribery, and money laundering - there is absolutely no reason to think this is true.

    • AlecSadler@sh.itjust.works
      14·
      4 months ago

      There are 192M shares and an average daily volume of 5.5M.

      There is no way Trump could sell 113M shares quickly, the stock would absolutely crater and the market would react.

      • Zron@lemmy.world
        4·
        3 months ago

        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.

    • rayyy@lemmy.world
      5·
      4 months ago

      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.

  • reddig33@lemmy.world
    12·
    4 months ago

    So when the timer runs out, will Trump sell his shares at a huge loss, or will the stock “magically” rally before he sells?

    • Andonyx@lemmy.world
      9·
      4 months ago

      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.

  • WindyRebel@lemmy.world
    4·
    4 months ago

    What a loser. I don’t want presidential candidates that can’t find growth in their companies. What a basement dweller. Sad.