“Donald Trump could find himself at the head of a $3 billion jackpot”

againstHow much are Donald Trump’s rants on social media worth? More than 5 billion dollars (4.6 billion euros), according to the beginnings of the IPO of the network completely subordinate to it, Truth Social. The result: his main shareholder, Donald Trump himself, could find herself at the head of a $3 billion jackpot, thus more than doubling his fortune, estimated by the magazine at $2.6 billion. Forbes.

In these difficult times, Wall Street has lost the concept of money and nothing nonsense. The media company is certainly headed by Donald Trump, former reality TV star and potential president of the United States, but its number of visitors has halved in a year (about 500,000 per month). In the first nine months of 2023, Truth Social earned $3.3 million in advertising revenue, paid $37.7 million in interest on its debts, and posted a net loss of $49 million. A micro-SME without growth linked to 78 years of glory!

The newly public Reddit network had a market capitalization of $8 billion as of Friday, March 22. As for Twitter, which has become

Clever tactic

The case dates back to 2021. Expelled from social networks after the assault on the Capitol, Donald Trump launched his own, without a cent of capital. He decides to merge his company with Digital World Acquisition Corporation, a front created by an obscure Miami banker, not so empty after all, since he managed to raise $293 million in cash. The entire complex is valued at 875 million dollars.

Read also | Article reserved for our subscribers. New charges could complicate Truth Social IPO, Trump bailout

Meanwhile, some 400,000 supporters of the Republican candidate for the 2024 presidential elections, giving him alchemist powers, bought the shares, whose stock market value quadrupled. In the short term, they adopted an ingenious tactic: instead of donating funds to Trump’s campaign, they bought shares, hoping to make money and save their champion from bankruptcy, who must pay $454 million to the New York justice system. York.

Let’s bet that the stock will not last long, although the strength of individual shareholders now allows it to fight against large institutions, as demonstrated, in 2021, despite all economic logic, by the rise of popular stocks such as GameStop. AMC games and theaters.

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