Donald Trump’s net worth hits US$6.5 billion, one of world’s 500 richest

[IroNat]

https://www.businesstimes.com.sg/international/donald-trump-s-net-worth-hits-us-6.5-billion-making-him-one-world-s-500-richest-people

DONALD Trump’s business empire was supposed to be in peril like never before on Monday (Mar 25). Instead, it turned into the single-greatest day on record for the former president’s wealth.

Facing a deadline to post a bond of more than US $500 million in a New York fraud lawsuit, a state appeals court tossed him a lifeline, slashing the amount he would have to post to US $175 million – an amount he says he will cover. Around the same time, his social media company Trump Media & Technology Group wrapped up a 29-month-long merger process, meaning shares worth billions of US dollars on paper are now officially Trump’s.

All told, his net worth increased by more than US$4 billion. That means for the first time ever, Trump joined the ranks of the world’s wealthiest 500 people on the Bloomberg Billionaires Index, with a fortune of US$6.5 billion.

[loco]

[Gym Rat]

Loco beat me to it!!   

[Gym Rat]

The start of TDS libturdz melting down like brainless retardz and glory-hole caulk suckkers and kid-groomers. 

Imagine being a TDS libturd?? Hurt by words???   

[loco]

Loco beat me to it!!   

[Primemuscle]

https://www.businesstimes.com.sg/international/donald-trump-s-net-worth-hits-us-6.5-billion-making-him-one-world-s-500-richest-people

DONALD Trump’s business empire was supposed to be in peril like never before on Monday (Mar 25). Instead, it turned into the single-greatest day on record for the former president’s wealth.

Facing a deadline to post a bond of more than US $500 million in a New York fraud lawsuit, a state appeals court tossed him a lifeline, slashing the amount he would have to post to US $175 million – an amount he says he will cover. Around the same time, his social media company Trump Media & Technology Group wrapped up a 29-month-long merger process, meaning shares worth billions of US dollars on paper are now officially Trump’s.

All told, his net worth increased by more than US$4 billion. That means for the first time ever, Trump joined the ranks of the world’s wealthiest 500 people on the Bloomberg Billionaires Index, with a fortune of US$6.5 billion.

Hold on slick. Learn to read between the lines which is closer to the truth. 'Trump’s social media company Trump Media & Technology Group wrapped up a 29-month-long merger process, meaning shares worth billions of US dollars on paper are now officially Trump’s.He cannot cash in on his windfall from Trump Media’s merger with Digital World Acquisition Corp (DWAC) because his shares are locked up for roughly six months.'

[LurkerNoMore]

Hold on slick. Learn to read between the lines which is closer to the truth. 'Trump’s social media company Trump Media & Technology Group wrapped up a 29-month-long merger process, meaning shares worth billions of US dollars on paper are now officially Trump’s.He cannot cash in on his windfall from Trump Media’s merger with Digital World Acquisition Corp (DWAC) because his shares are locked up for roughly six months.'

You would think they would have read the entire articles they got their headlines from. 

If it is worth that in 6 months, they will be right.  Good luck though.

[Coach is Back!]

Hold on slick. Learn to read between the lines which is closer to the truth. 'Trump’s social media company Trump Media & Technology Group wrapped up a 29-month-long merger process, meaning shares worth billions of US dollars on paper are now officially Trump’s.He cannot cash in on his windfall from Trump Media’s merger with Digital World Acquisition Corp (DWAC) because his shares are locked up for roughly six months.'

Hold on slick. The only exception would be if the company's board votes to make a special dispensation. But he doesn’t need it since the fake fine has been dropped to $175mil

[Sexy Beast]

Hold on slick. The only exception would be if the company's board votes to make a special dispensation. But he doesn’t need it since the fake fine has been dropped to $175mil

It seems like bad mojo to use the same ticker symbol from Trumps last public company that crashed and burned

If the board did allow him to sell shares before the lockout period the likely outcome would be for the stock to crash and the shareholder lawsuits would follow soon thereafter.

Also keep in mind that the company reported less than $3.5 million — that’s million, not billion — in revenue over the first three quarters of 2023, with reported losses more than 10 times that amount.   Its monthly active users plunged 51% year over year in February and the number of unique visitors to Truth Social's website was 648,000, down 20% year over year.

It might make sense to buy this stock or attempt to short it if you're a skilled day trader but to buy this stock as some kind of long terms investment is akin to setting your money on fire.

[Primemuscle]

Hold on slick. The only exception would be if the company's board votes to make a special dispensation. But he doesn’t need it since the fake fine has been dropped to $175mil

I guess this means both you and I are slick. Who knew?

[Coach is Back!]

It seems like bad mojo to use the same ticker symbol from Trumps last public company that crashed and burned

If the board did allow him to sell shares before the lockout period the likely outcome would be for the stock to crash and the shareholder lawsuits would follow soon thereafter.

Also keep in mind that the company reported less than $3.5 million — that’s million, not billion — in revenue over the first three quarters of 2023, with reported losses more than 10 times that amount.   Its monthly active users plunged 51% year over year in February and the number of unique visitors to Truth Social's website was 648,000, down 20% year over year.

It might make sense to buy this stock or attempt to short it if you're a skilled day trader but to buy this stock as some kind of long terms investment is akin to setting your money on fire.

So you’re saying that a loss has never happened with a new IPO  in following months to not become successful?

[Thin Lizzy]

It seems like bad mojo to use the same ticker symbol from Trumps last public company that crashed and burned

If the board did allow him to sell shares before the lockout period the likely outcome would be for the stock to crash and the shareholder lawsuits would follow soon thereafter.

Also keep in mind that the company reported less than $3.5 million — that’s million, not billion — in revenue over the first three quarters of 2023, with reported losses more than 10 times that amount.   Its monthly active users plunged 51% year over year in February and the number of unique visitors to Truth Social's website was 648,000, down 20% year over year.

It might make sense to buy this stock or attempt to short it if you're a skilled day trader but to buy this stock as some kind of long terms investment is akin to setting your money on fire.

When a company has what seems to be  an out of wack valuation it’s predicated on explosive future growth. Most of the time, the company doesn’t deliver but with Trump the favorite to become President again, it’s not impossible.

[Thin Lizzy]

So you’re saying that a loss has never happened with a new IPO  in following months to not become successful?

Again, valuations are predicated on future earnings. What the company made last year or even this year is water under the bridge. It’s what it’s going to do going forward. And that remains to be seen.

[Sexy Beast]

Again, valuations are predicated on future earnings. What the company made last year or even this year is water under the bridge. It’s what it’s going to do going forward. And that remains to be seen.

Truth Social had a closing price today of ~ $66 and a market cap of 7.5 billion

They have about 500k active users in the US and that's a decrease from the prior year
Compare that to about 75 million for Twitter

Also, I suspect their user base is likely a very homogenous group (mostly Trump supporters) unlike Twitter

Where is the future revenue going to come from to support that valuation ?

In the last couple of days Trump has started selling Bibles for around 60 bucks and, although that is also ridiculous on so many levels it's still probably a better investment than single share of DJT

Everyone can make their own evaluation but this is likely to end in tears for most people who own the stock

[Thin Lizzy]

Truth Social had a closing price today of ~ $66 and a market cap of 7.5 billion

They have about 500k active users in the US and that's a decrease from the prior year
Compare that to about 75 million for Twitter

Also, I suspect their user base is likely a very homogenous group (mostly Trump supporters) unlike Twitter

Where is the future revenue going to come from to support that valuation ?

In the last couple of days Trump has started selling Bibles for around 60 bucks and, although that is also ridiculous on so many levels it's still probably a better investment than single share of DJT

Everyone can make their own evaluation but this is likely to end in tears for most people who own the stock

If I had to bet, I’d say you’re right. Most pie in the sky valuations end badly for investors.

[chaos]

Where is Biden in the top 500

[Irongrip400]

Where is Biden in the top 500

The big guy is up there, his is just spread out in Swiss bank accounts.

[Sexy Beast]

DJT is down to 22% this morning and currently sitting at ~ 48 dollars (which is probably still about 47 dollar and 99 cents more than it's worth)

Trump Media stock tanks as new filing reveals heavy losses, 'greater risks' on Trump's involvement

Trump Media & Technology Group (DJT), the parent company of Donald Trump's social media platform Truth Social, sank more than 22% in midday trading on Monday following its blockbuster debut last week.

The stock drop comes on the heels of an updated regulatory filing early Monday that showed the company taking on heavy losses and facing "greater risks" associated with the former president's ties to the platform.

According to the filing, Trump Media reported sales of just over $4 million as net losses reached nearly $60 million for the full-year ending Dec. 31. The company warned it expects losses to continue amid greater profitability challenges.

"TMTG has historically incurred operating losses and negative cash flows from operating activities," the filing read.

"TMTG expects to continue to incur operating losses and negative cash flows from operating activities for the foreseeable future, as it works to expand its user base, attracting more platform partners and advertisers."

One little problem - it's  user base is declining rather than expanding

[Primemuscle]

Where is Biden in the top 500

I know, right? According to Republican or right leaning folks,  he is the head of a crime family which is in business with foreign countries for millions if not billions of dollars (including are our adversaries, China for example). Plus, he has been ripping off the U.S. government for unearned paychecks for more than five decades (since he first became a senator in 1972). He has never filed for bankruptcy, either personal or business related. He does not pay alimony since he has never been divorced. His wife has a net worth of $9 million. Hmmm, something is amiss, he should be wealthier than he is. His paltry net worth is approximately $10 million. Peanuts compared to Trump. He should start selling the New Revised Standard Version, Catholic Edition of the Bible for $60 a pop, and trading cards, although he does not have a mug shot to sell, so it is not clear what the trading cards would look like.


Oh, and BTW, Trump may not be in the top 500 for long. A week after it went public, folks realized today there was no way that stock was worth the risk as it begins the dissent to zip. At least Trump was worth a bundle on paper for a second or so before it got flushed down the toilet. What goes up, must come down. Duped again!

[LurkerNoMore]

I know, right? According to Republican or right leaning folks,  he is the head of a crime family which is in business with foreign countries for millions if not billions of dollars (including are our adversaries, China for example). Plus, he has been ripping off the U.S. government for unearned paychecks for more than five decades (since he first became a senator in 1972). He has never filed for bankruptcy, either personal or business related. He does not pay alimony since he has never been divorced. His wife has a net worth of $9 million. Hmmm, something is amiss, he should be wealthier than he is. His paltry net worth is approximately $10 million. Peanuts compared to Trump. He should start selling the New Revised Standard Version, Catholic Edition of the Bible for $60 a pop, and trading cards, although he does not have a mug shot to sell, so it is not clear what the trading cards would look like.


Oh, and BTW, Trump may not be in the top 500 for long. A week after it went public, folks realized today there was no way that stock was worth the risk as it begins the dissent to zip. At least Trump was worth a bundle on paper for a second or so before it got flushed down the toilet. What goes up, must come down. Duped again!

Sounds like we will be hearing excuses in six months from the red hats.

[Primemuscle]

Sounds like we will be hearing excuses in six months from the red hats.

Do you really think it will take that long for the truth of this fiasco stock gimmick to be outed? Whether now or six months from now Coach and others will fabricate an excuse or explanation such as it is all another media 'witch hunt' and the stock is doing just fine as is Trump's fortune.

[deadz]

[Sexy Beast]

I doubt their demise is imminent given that 300 million they received from the merger with Digital World Acquisition Corp but it at this point its unforeseeable how they actually increase their  revenue much less make a profit.  If you're a long term investor you better buckle for a bumpy ride down the drain.

This company seems like one of  those classic dot.com bombs that went public but never had any hope of making money
Anyone remember Pets.com.  They raised $82.5 million in a February 2000 IPO but filed for bankruptcy nine months later.

That's chump change compared to how much DJT raised.  It's seems like a breach of public trust to pass along the stinkbomb to retail investors

Trump Media auditor warns that losses 'raise substantial doubt' about company's ability to continue

An auditor has raised doubts about the ability of Donald Trump's publicly traded company to stay in business, according to a new regulatory filing.

Trump Media and Technology Group, which operates the Truth Social platform, reported it lost $58.2 million in 2023 while generating total revenues of $4.1 million, according to the Monday filing with the Securities and Exchange Commission. Trump Media listed its largest expense for the year as interest payments totaling more than $39 million.

The filing includes a note from an independent accounting firm, Colorado-based BF Borgers CPA PC, warning that Trump Media's "operating losses raise substantial doubt about its ability to continue as a going concern." The firm has worked with Trump Media since 2022.

The note is dated March 25, the day before Trump's company started trading on the Nasdaq stock exchange under the symbol DJT, surging at first and earning comparisons to so-called meme stocks.

Shares of the company fell more than 21% to $48.66 on Monday. Its market value stood at more than $6.5 billion.

A spokesperson for Trump Media did not immediately respond to a request for comment.

In the filing, the company acknowledged that it expects to operate at a loss for the "foreseeable future" as it works to expand Truth Social's user base and attract more advertisers. It said it would be "premature" to predict when it will attain profitability and positive cash flows from its operations. It said it would need bridge funding of between $5 million and $60 million.

As of the end of 2023, Trump Media had about $2.6 million in cash on hand and total liabilities of $70.1 million, according to the filing. The company received an infusion of about $300 million from its merger a week ago with shell company Digital World Acquisition Corp.

https://www.nbcnews.com/business/business-news/trump-media-auditor-warns-losses-raise-doubt-company-rcna145831

[Sexy Beast]

Do you really think it will take that long for the truth of this fiasco stock gimmick to be outed? Whether now or six months from now Coach and others will fabricate an excuse or explanation such as it is all another media 'witch hunt' and the stock is doing just fine as is Trump's fortune.

Trump will wind up making money from this and that was the one and only reason they went public...to pass along this bomb to stupid retail investors

[OzmO]

I wouldn’t invest anything with trump’s name on it right now. It’s too crazy.  But that wouldn’t mean I wouldn’t in the future.  Hell, look at Uber that just reported a profit after 3 or something years.