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.”
Sorry to say, but this one goes well beyond the current fuckery of the existing Stock Market.
This is the biggest money laundering scheme ever run in public view. The only thing propping up any price for Truth SOcial are those with a vested interest in paying off The Donald and putting the GOP in power; Saudia Arabia and Russia - with just a splash of China. Follow the money.