Liberal Forum

ROG62 » 4 minutes ago » wrote: ↑

4 minutes ago

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....