Trump and money

[smartcooky]

Yeah, it seems obvious to me too. But that seems to escape many of his supporters.

I created the thread to get a real understanding of his financial condition. I've been trying to obtain answers. But unfortunately, it's damn hard to separate the facts from Trump's constant misinformation campaign. It's also hard to fully understand through so many articles that just repeat other articles that may or may not be accurate.

Right now, facts and fiction appear to be heading towards a major collision.

Just keep in mind that you should completely disregard anything that The Fat Orange Turd says, especially with regards to finances. He lies about his finances to suit the moment. After all, the NY Civil Fraud case was all about him lying about his finances - hugely over inflating the value of his properties and businesses when wanting to use them as collateral for loans, and then dramatically undervaluing them when it came time to pay property taxes to New York.

 

[acbytesla]

Just keep in mind that you should completely disregard anything that The Fat Orange Turd says, especially with regards to finances. He lies about his finances to suit the moment. After all, the NY Civil Fraud case was all about him lying about his finances - hugely over inflating the value of his properties and businesses when wanting to use them as collateral for loans, and then dramatically undervaluing them when it came time to pay property taxes to New York.

I don't believe a word he says. If Trump ever tells the truth about something it was an accident.

 

[The Don]

Here's a WaPo article covering much of this thread's topic. One thing of note: apparently Trump Social is worth something.

https://wapo.st/4bURBqX

To the uninitiated like me, $4bn seems like a very high valuation for a social media platform that doesn't seem to have very many users. Elon Musk ridiculously overpaid $44bn for X but at least that was a well established social media platform with over a billion users and a well established revenue stream, primarily from advertising.

The article only tangentially touches on the valuation of Truth Social following the putative takeover by the SPAC and doesn't make clear what proportion of Truth Social shares belong to President Trump.

 

[The Great Zaganza]

The question is, as always: what is someone willing to pay for it?

And we know from two decades of the right-wing media ecosphere that right-wing billionaires will happily spend hundreds of millions of really bad things in the hope of turning the Country into a Libertarian Theocracy.

Whoever buys anything from Trump isn't expecting a return-on-investment in dollars - they expect political influence.

 

[Venom]

The short answer is he is still, like, really rich even with his legal troubles.

 

[acbytesla]

The short answer is he is still, like, really rich even with his legal troubles.

Is he? I'm not so sure.

 

[Gulliver Foyle]

Here's a WaPo article covering much of this thread's topic. One thing of note: apparently Trump Social is worth something.

https://wapo.st/4bURBqX

Trothe social isn't worth $4bn unless you're counting in pre-2009 Zimbawean Dollars. It's another sign that the stock markets as currently constituted are incapable of properly valuing assets.

 

[The Great Zaganza]

Trothe social isn't worth $4bn unless you're counting in pre-2009 Zimbawean Dollars. It's another sign that the stock markets as currently constituted are incapable of properly valuing assets.

It might be worth it for a group of billionaires to not sink Trump now and wait for a political payoff after November.

 

[Gulliver Foyle]

The most recent accurate valuation for T****y is the negative $330-odd million value he had as at the 1991 bankruptcy. I would be very surprised if, in reality, be's actually managed to clear his head above water since, especially given that since the bankruptcy he took to dealing with the Russian mob.

 

[The Great Zaganza]

The most recent accurate valuation for T****y is the negative $330-odd million value he had as at the 1991 bankruptcy. I would be very surprised if, in reality, be's actually managed to clear his head above water since, especially given that since the bankruptcy he took to dealing with the Russian mob.

the sad truth in today's economy is that something like Assets or Profitability don't matter - only potential for reach and growth does: investors will happily keep on paying for the promise of some day becoming the new Facebook/Twitter etc. .

As long as Trump can make people belief that his thing is the only way to access the numerous, highly engaged, quiet well-off and easily dumped market that is the MAGA crowd, he can probably find someone to pay whatever he asks for it.

 

[Gulliver Foyle]

the sad truth in today's economy is that something like Assets or Profitability don't matter - only potential for reach and growth does: investors will happily keep on paying for the promise of some day becoming the new Facebook/Twitter etc. .

As long as Trump can make people belief that his thing is the only way to access the numerous, highly engaged, quiet well-off and easily dumped market that is the MAGA crowd, he can probably find someone to pay whatever he asks for it.

He'd have to prove that Trothe Social is reaching the MAGAts. By all metrics it isn't, it's simply a bunch of reich-winger commentators circle-jerking and journalists occasionally looking in in case T****y has one of his lackeys say something really stupid.

The MAGAt crowd had already been captured by the likes of telegram and rumble before T****y came up with his latest scam.

 

[Skeptic Ginger]

The question is, as always: what is someone willing to pay for it?

And we know from two decades of the right-wing media ecosphere that right-wing billionaires will happily spend hundreds of millions of really bad things in the hope of turning the Country into a Libertarian Theocracy.

Whoever buys anything from Trump isn't expecting a return-on-investment in dollars - they expect political influence.

Sounds ripe for a twofur: money laundering and passing some cash along for Trump to use to delay his trials with multiple appeals. Trump could claim he took 1/2 a billion in profits and whatever was there to be laundered could just disappear back into the 'buyers' hidden pockets, or something like that.

Trying to trace the money down from Truth Social I got to this:

In December 2021, TMTG said it had raised $1 billion in private investment in public equity (PIPE) funding. The investors are unidentified. The Financial Times reported the expected proceeds of the PIPE and SPAC funding to TMTG would be $1.25 billion.[10]

On November 21, 2023, Trump Media & Technology Group, filed a lawsuit seeking $1.5 billion in damages from 20 media outlets. The lawsuit, filed in Sarasota County, Florida, alleges that these outlets falsely reported that Truth Social had incurred a $73 million loss, which the company claims was an "utter fabrication" and part of a "deliberate, malicious, and coordinated attack.". The error reportedly arose from misinterpreting a regulatory filing, leading some outlets, including Reuters, to issue corrections. The lawsuit suggests that the simultaneous reporting of the incorrect figure by all 20 outlets indicates a coordinated campaign against Truth Social.[16]

That needs an eyeroll and a laugh emoji rolled into one.


But then there is the little matter that Trump's ownership in TS is sketchy. He'd need someone at Rumble he could con and/or join corruption forces with. And that would be too risky given whistle blowers might all be out there on the lookout for the art of a good book deal.

On April 22, 2022, Rumble announced that Truth Social had successfully migrated its website and mobile applications to Rumble's cloud infrastructure.[4]

Of course finding a partner in corruption won't necessarily be difficult.

The Guardian reported in March 2023 that in 2022 the SDNY expanded its criminal investigation to include whether TMTG engaged in money laundering. Beginning in December 2021, when the company was in danger of collapsing because its merger with DWAC had been delayed, it received a loan in two payments totaling $8 million. This included $2 million from Paxum Bank, which is part-owned by Anton Postolnikov, a relation of Aleksandr Smirnov, a former Russian government official who now runs the Russian maritime company Rosmorport. Another $6 million was paid by an ostensibly separate entity, ES Family Trust, which shared a director with Paxum Bank.[22][23] The $8 million loan was structured to automatically convert into TMTG common equity upon merging with the SPAC—meaning ES Family Trust will gain a stake in TMTG if the merger proceeds—though this was not disclosed to the SPAC investors nor the SEC.[24]

My head is spinning. No wonder Trump can so successfully hide behind muddy trail after muddy trail.

The above quotes are from this Wiki page:
https://en.wikipedia.org/wiki/Trump_Media_&_Technology_Group

And I got there from this Wiki page:
https://en.wikipedia.org/wiki/Truth_Social


Since no one is paying me (like an investigative reporter might be paid) I'm going to stop there. I'm sure if somehow Trump comes up with the money from Truth Social there will be a gazillion reporters on the case.

 

[Skeptic Ginger]

He'd have to prove that Trothe Social is reaching the MAGAts. By all metrics it isn't, it's simply a bunch of reich-winger commentators circle-jerking and journalists occasionally looking in in case T****y has one of his lackeys say something really stupid.

The MAGAt crowd had already been captured by the likes of telegram and rumble before T****y came up with his latest scam.

Are you kidding? All of Trump's midnight bathroom typing goes straight to the media, (both alt-right and mainstream) for dissemination.

 

[Norman Alexander]

Donny personally has no clue how his money-go-round works. But all his extremely smart financiers who fetch coffee do. And many of these people are not overly concerned about respecting national boundaries or US financial reporting obligations. The money goes in somewhere near Dubai or Geneva or Moscow, and comes out in Donny's Mastercard.

 

[acbytesla]

E Jean Carroll's response is brutal.

I just finished reading attorney Robbie Kaplan's response to Trump's request to stay the requirement to post a supersedeas 91 million dollar bond in the E Jean Carroll case.

It is truly brutal. She slices and dices Trump's motion.

INTRODUCTION
Almost one month after the jury returned its verdict in this case, Defendant Donald J.Trump filed yet another motion for a stay—this time, to stay enforcement of the judgment without a bond or any other security that would ensure that Plaintiff E. Jean Carroll’s will be able to collect the $83.3 million that Trump now owes her.

The reasoning Trump offers in seeking this extraordinary relief boils down to nothing more than “trust me.” He doesn’t offer any information about his finances or the nature and location of his assets. He doesn’t specify what percentage of his assets are liquid or explain how Carroll might go about collecting. He doesn’t even acknowledge the risks that now accompany his financial situation, from a half billion-dollar judgment obtained by the New York Attorney General to the 91 felony charges that might end his career as a businessman permanently.

He simply asks the Court to trust me” and offers, in a case with an $83.3 million judgment against him, the court filing equivalent of a paper napkin; signed by the least trustworthy of borrowers.

 

[Darat]

Any links to the whole thing?

 

[acbytesla]

Digital World Acquisition of Truth Social could be in trouble.

Today, two of the co-founders of Digital World Acquisition filed suit against Donald Trump and DWAC in the chancery court in Delaware. They own 8% of the stock (not sure if it is 8%each or 8% combined) Anyway, the chancery judges in Delaware are like Federal Bankruptcy judges. They wield a lot of power. They could easily stop the March 22 merger in its tracks.

They are fighting among other things the dilution of their stock to less than 1%. They are arguing that the board is too chummy with Trump and they are being cheated by Trump. (Big surprise eh)
This news apparently caused an 8% drop in the stock price today.

 

[acbytesla]

Any links to the whole thing?

Here you go. #29 pages
https://storage.courtlistener.com/r...d.543790/gov.uscourts.nysd.543790.303.0_1.pdf

 

[alfaniner]

Today, two of the co-founders of Digital World Acquisition filed suit against Donald Trump and DWAC in the chancery court in Delaware. They own 8% of the stock (not sure if it is 8%each or 8% combined) Anyway, the chancery judges in Delaware are like Federal Bankruptcy judges. They wield a lot of power. They could easily stop the March 22 merger in its tracks.

They are fighting among other things the dilution of their stock to less than 1%. They are arguing that the board is too chummy with Trump and they are being cheated by Trump. (Big surprise eh)
This news apparently caused an 8% drop in the stock price today.

Seeing some of the Trending articles on TwiX, I'd think that The FPDJT just made 30-some billion dollars.

 

[acbytesla]

Seeing some of the Trending articles on TwiX, I'd think that The FPDJT just made 30-some billion dollars.

It's amazing isn't it?

Trump lost on paper today 340 million dollars. Imagine what happens to the stock when Trump's good buddies on the board waive the lock on Trump selling his stock.