Current Events > Trump's wealth has nearly tripled overnight. Joins list of 500 richest 1st time

(+) Yeah! (+)

https://www.cnn.com/2024/03/25/investing/trump-media-stock-trading/index.html

Truth Social owner Trump Media & Technology Group has finalized its deal to go public, creating a massive windfall for former President Donald Trump that nearly triples his net worth.
After Trump Media announced it will make its stock market debut on Tuesday, Trump for the first time joined the list of the worlds 500 wealthiest people on the Bloomberg Billionaires Index.
Bloomberg estimated Trumps net worth spiked by $4 billion on Monday alone, giving him a fortune of $6.5 billion.
The closing of the merger between Trump Media and Digital World Acquisition Corp. amounts to a multi-billion dollar windfall for Trump, who is the chairman and dominant shareholder of the new company.

And this is why using loss of money as a punishment never works correctly.

So more than enough to cover his bond.

Wealth is about as real as the NFL salary cap and birds.

Isn't tripling no money still no money?

Maybe he can finally buy back trump tower

And enough votes to actually win

ClayGuida posted...

So more than enough to cover his bond.

yes. and then some to hunt down his political enemy's.

Who would buy a stock they know is immediately going to get dumped by it's largest holder?

pretzelcoatl posted...

Who would buy a stock they know is immediately going to get dumped by it's largest holder?

That's why you get in at first then sell before the dive.

pretzelcoatl posted...

Who would buy a stock they know is immediately going to get dumped by it's largest holder?

Who usually wastes their money on Trump stuff?

Now comes the dump part of the pump and dump.

Also lol at that valuation.

He literally argued that he didn't have 400 million dollars.

I would be willing to accept a world where Trump takes this money, tells the GOP he's no longer interested and he then fucks off to wherever

DementedDurian posted...

And this is why using loss of money as a punishment never works correctly.

It does in Norway where punishments are based on income and how much money you have.

Jiek_Fafn posted...

I would be willing to accept a world where Trump takes this money, tells the GOP he's no longer interested and he then fucks off to wherever

Impossible, he'd have to give up on attention whoring.

ClayGuida posted...

So more than enough to cover his bond.

Not unless his board allows him, likely tanking the stock in the process.

If they don't, he has to wait at least 6 months before he sells.

He should have no problem with paying for the bond.

mystic_belmont posted...

He should have no problem with paying for the bond.

He will still whine and cry to his base that he's "poor" and how he "can't afford the fine" and how he's "being targeted by the evil judge and evil prosecutor" and how it's "election interference".

Wealth isnt cash

I hate this planet/timeline.

I remember hearing he can't sell for 6 months.

Also i think he would still be limited in what he can do with it. I forget exactly what it was he couldn't do with it without making another part of the government mad.

wackyteen posted...

I remember hearing he can't sell for 6 months.

The board can vote to eliminate that.

You know, the board he packed with his people.

Fuck that guy

mystic_belmont posted...

The board can vote to eliminate that.

You know, the board he packed with his people.

You realize that him selling would obliterate the stock right? And he'd likely need SEC approval to do so, the same way Musk does when he's planning on selling too.

So while they may be Trump Yes men, why would they give up millions for him? The rich only support Trump so he can keep them rich.

This feels like one of the biggest scams in the history of the country. What forces are trying to help Trump destroy america?

No.

solosnake posted...

This feels like one of the biggest scams in the history of the country. What forces are trying to help Trump destroy america?

Anyone making over a million a year is a likely suspect.

solosnake posted...

This feels like one of the biggest scams in the history of the country. What forces are trying to help Trump destroy america?

https://en.m.wikipedia.org/wiki/Republican_Party_(United_States)

Having a high net worth and actually having that money are two different things. Any money he gains will immediately disappear due to the many debts he currently owes, or to a bad investment.

solosnake posted...

Bloomberg estimated Trumps net worth spiked by $4 billion on Monday alone, giving him a fortune of $6.5 billion.

How the fuck did they determine he was worth 2.5bn when he was literally just found liable for bullshitting the value of his properties all these years and had to get a bond from another to pay 91m to Carroll?

Kradek posted...

How the fuck did they determine he was worth 2.5bn when he was literally just found liable for bullshitting the value of his properties all these years and had to get a bond from another to pay 91m to Carroll?

He likely made a lot of money as President through cronyism.

mystic_belmont posted...

He should have no problem with paying for the bond.

You cant pay bonds with stock evaluations. You need liquid. And if he sold his shares of the company then its value would drop. So he still needs to rely on loans

At this point I don't even know if I believe that Trump will get half, or even anything more than a quarter of this money.

Not even because I have any reason to doubt it, or know something that everyone else doesn't. But just because I don't trust Trump or any business he's involved in.

I genuinely hope he either doesn't get it or burns through it though. It's funny seeing him miserable without all the money he claims to have.

Fake money, he won't get anywhere near that much when he tries to sell.

Charged151 posted...

He likely made a lot of money as President through cronyism.

Well we know he did, though none of seems to have stuck since he needed a bond from someone else to cover the Carroll payment and clearly can't cover the fraud case judgment.

But I imagine to get 2.5bn it'd have a lot to do with his properties, which means they were likely basing that off of the fraudulent numbers he used to secure loans.

nocturnal_traveler posted...

Having a high net worth and actually having that money are two different things. Any money he gains will immediately disappear due to the many debts he currently owes, or to a bad investment.

It fascinates me to no end that the rich have sold this scam to poor people that the rich should have their cake and eat it too.

"I'm too broke to pay my legal bills but somehow can still afford and find funds for my luxurious expensive lifestyle that 90% of you plebs can only dream to have one day!"