CNBC: Trump's Net Worth Will Be $6.5B After Stock Increase of His Media Company
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Its a smart time for an IPO. The Biden stock market is rolling right now People are even willing to throw money at a guy who is only good at bankrupting companies.
Donald Trump faces hundreds of millions of dollars in legal penalties, his presidential campaign is confronting a cash crunch and his businesses have reported operating losses for years.
But on Monday afternoon, Trump was richer than he has ever been.
Trump’s net worth shot up by more than $4 billion in recent days to about $6.5 billion, according to Bloomberg, which tracks the 500 wealthiest people in the world.
...
Trump owns nearly 80 million shares, or roughly 58%, of Trump Media, which operates his social media site Truth Social. At DWAC’s closing price Monday of $49.95 a share, Trump’s stock was worth $4 billion on paper.
The newly merged social media company said it will begin trading Tuesday under the ticker symbol DJT.
DWAC’s share price soared 35% in Monday trading, after a New York appeals court slashed the amount of cash the former president needs to get a bond saving him from having to immediately pay a $454 million civil fraud penalty.
Come back when you have the FACTS!
So - let me understand.
He was banned from Twitter and started his own media company.
He has all of these lawsuits and charges against him - and times it just right to when the bond that was supposed to break him is lowered... and shortly afterwards becomes richer than he's ever been through the media company he created because Twitter banned him.
Talk about turning lemons into lemonade...
Now - he can't sell any stock for 6 months, so who knows what will happen between now and then.
Indeed, I didn’t even think about that. I don’t think the price is at all sustainable, the emperor has no clothes, but if people want to throw their money down the drain, so it be, so it is.
I support people doing what they want to do and throwing their money down the drain to "own the libs," whatever that means, if that's their choice. Meanwhile, it's famously said, "a fool and their money are soon parted", but ever notice no one asks how a fool and their money got together in the first place?!
The hate and jealousy towards Trump is amusing and entertaining. And making him richer.
No doubt this will make him richer. It's the average everyday investor that will be holding worthless stock in a few years. See what happened the last time DJT was listed on a stock exchange.
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People are even willing to throw money at a guy who is only good at bankrupting companies.
