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Cortez says “you can’t earn a billion dollars….you have to create a myth of earning it."
#780949 Re: Cortez says “you can’t earn a billion dollars….you have to create a myth of earning it."
Yesterday 8:56 pm
President Donald Trump’s media empire is facing a brutal reality check. Trump Media & Technology Group, the parent company of Truth Social, reported a staggering $405.9 million net loss for the first quarter of 2026 on just $871,200 in revenue, according to earnings released Friday. The company blamed the bloodbath largely on paper losses tied to digital assets and stock compensation. Still, the numbers are eye-popping even by Truth Social standards. Trump Media trades under the ticker DJT, and Trump remains the company’s biggest shareholder, controlling roughly 41 percent through his revocable trust. Despite the ugly results, the company tried to project confidence, touting its “strong balance sheet” while promising more growth for Truth Social, streaming platform Truth+, and fintech venture Truth.Fi. The disastrous quarter also came weeks after former GOP congressman Devin Nunes abruptly stepped down as CEO. Former Hulu and Vevo executive Kevin McGurn is now serving as interim chief executive. Trump Media’s stock has already plunged roughly 35 percent this year. The White House did not immediately respond to the Daily Beast’s request for commentBuckNaked » 07 May 2026, 8:24 pm » wrote: ↑ Representative Alexandria Ocasio-Cortez (AOC) has argued that it is impossible for individuals to legitimately "earn" a billion dollars, suggesting that such high levels of wealth are accumulated through "abuse" rather than merit.
In a May 2026 appearance on the It's Open podcast, she explained her perspective that extreme wealth accumulation requires breaking rules, abusing labor laws, and paying workers less than their value.
This video discusses Alexandria Ocasio-Cortez's proposal for a high tax rate on the
Key Points from AOC's Stance:
- The "Myth" of Earning: She claims that because billionaires cannot actually earn that much money through labor, they create a "myth" to justify their wealth.
- Systemic Issues: She linked extreme income inequality to corporate abuses, such as not paying living wages, and suggested this inequality drives wider social issues, including xenophobia.
- Wealth vs. "Giving": She has expressed views that true wealth is not about personal accumulation, referencing a "billionaire of giving" concept, rather than holding monetary wealth.
- Criticism of the System: AOC has pointed to her experience of her family being "sideswiped" by the 2008 financial crisis as evidence that the system fails to support working families, even when they "do everything right"
https://www.thedailybeast.com/donald-tr ... lion-loss/