So with my very approximate mental math that puts him owning about $2B of the total ~$3.5B.
Bananas that he gets (on paper) $2B for tacking his name on a crappy product that is burning money. No value added other than the name. A few months ago Truth Social tried to hype up rolling out their new live video feature. What does Trump do? Holds his live “interview” with Musk on X, and doesn’t even try to make a deal with Musk to have it simulcast on TS. Not that Truth Social would be technically up to that job given X wasn’t.
Trump seems to know it’s a grift, which makes me think he’ll try to cash out hard at some point.
Edit: Oh, re-reading that TS hasn’t even rolled out live streaming yet. The hype was just saying it was coming, but gave no timeline. Nevermind.
Its worse than that, the high was actually about 80 bucks, but what is a few billion here or there, its all paper money!!! So he certainly has enough shares to tank it to 0, unless of course the white knight I postured shows up to give him money that way. Actually an ingenious way to just grift money directly to him without all the legal hassles. And of course he will know who it is so that he can do his payback later on…But something tells me that the smart guys with billions are starting to get the feeling that it is likely he is not going to be in that position, and it will be money pissed down he drain. But for them, just a gamble that doesnt change their lives, so perhaps…
16.98 close today. About time one of his grifts doesn’t pay off (although he’s still almost two billion dollars to the good on paper). Pretty good chance that major stockholders won’t want to be stockholders by Sept. 20, right? Carnage to ensue.
Major stockholders, no. I almost feel bad for the poor working-class MAGA-types who maybe sunk their retirement money into this. Their quality of life goes to the shitter while Trump walks away with $1-2B for essentially doing nothing.
With 5+ million a typical volume day, he wont be able to sell even a fraction of his shares. Probably dribble some here and there, hoping to not start a stampede to the exit. so he can then milk it for days, maybe weeks instead of hours or minutes, or even seconds with flash trading these days…
I really don’t know the rules he will be working under, I think he can do a private sale perhaps to someone or the company?? I know we often dont hear about Buffett’s sales until after the fact, think often the company buys the shares to keep it quiet and not spur an exit by those that follow him…
Sure we have some traders here who know, hopefully they have jumped the gap of the new format here…
It’s a meme stock at this point. I could see buying some if gets low enough as a play on Trump winning in November. Because it’ll inevitably skyrocket (at least in the short term) should that happen. I won’t do that at any price. But I could see it as a speculative play.