Liberal Forum

Blackvegetable » 14 minutes ago » wrote: ↑

14 minutes ago

A trust overseeing Donald Trump’s $2.1 billion stake in the media company that owns Truth Social is paving the way to cash in on its position, which for the past year has formed the bedrock of the president’s fortune.

Trump Media & Technology Group Corp. shares slumped as much as 9.4% before trimming losses Wednesday after the company filed on April 1 to register up to 142.5 million shares and warrants for sale. 

The filing is the first step for the president’s trust, controlled by his son Donald Trump Jr.. to potentially sell down his entire 114.75 million share stake. It also registered millions of shares owned by the sponsor of the blank-check firm that merged with Trump Media to take it public last year.

Trump Trust Opens Door to Tap Anchor of His $4.9 Billion Fortune

https://www.bloomberg.com/news/articles ... edia-stake

This is a combination of a bust out and pump&dump.

Arguably the only asset of Grifty Media is Grifty....but he's difficult to monetize at a scale sufficient to justify Trump Media's valuation.

So the trick is to yank the equity out the back door before investors realize that they bought into nothing.

If you engage in financial fraud like this, NFTs, and meme coins...and you're brazen enough, you make headlines and billions. If you've appointed lackeys to "regulate" the various markets in which you operate, you can siphon MAGAtRube's money all day - with impunity.

A further benefit is that you can hand out pieces to even more prospective appointees to keep them true to your "cause".

It's a crude grift, but their pigeons are remarkably stupid....and fecund.

that's how IPOs work...

How Truth Social And Crypto Helped Trump Double His Fortune In Just One Year...

What a year for Donald Trump. Twelve months ago, his political prospects were shaky, his financial future nightmarish. He had an estimated $413 million of cash on his balance sheet and a $454 million fraud judgment against him in New York State. While New York Attorney Gen­eral Letitia James mused about seizing his assets—“I look at 40 Wall Street each and every day”—Trump did what he does best: He fought, he sold, he won. The result: America’s 47th president has more than doubled his estimated fortune, from $2.3 billion to $5.1 billion.

 Trump learned long ago that delays can be as valuable as victories. Admitting he could not afford to pay off the $454 million in cash, Trump’s legal team sugges­ted an appeals court waive or reduce the bond amount. Courts don’t always grant such grace, but they did in this case, dropping the requirement to $175 million and staving off an asset seizure.

 Then Trump showed why he is the greatest salesman in American his­tory. The day after the courts extended a lifeline, he took his social media venture, Truth Social’s parent company, public. It’s not much of a business—a few million in revenue, tens of millions in losses—but that didn’t matter to Trump-loving investors, who bid up shares to unconscionable heights, gambling on the absurdity of it all and adding billions to Trump’s fortune in the process. The mania faded, with the stock 72% off its high, but it never disappeared, leaving Trump with a $2.6 billion stake as of March 7, the day Forbes locked in prices for its annual billionaires ranking.

https://www.forbes.com/sites/danalexand ... -one-year/

weep, duplex, weeeeeeeep....