Donald Trump: Classic or Dud?

Sigh.

this is really the perfect trump event wriggling out of a jam in the stupidest most media poisoned way possible while screwing over his supporters by dumping the stock that theyve pumped out of loyalty

idk if itll actually work but its an interesting story

i thought for sure that $400M would be too much for trump to ever be able to cover in a world stacked with evil billionaires!

wait i can see it now hes gonna do very public obvious securities fraud in an effort to keep the price up while he sells

This reminds me of the guy I work with who is always a disorganized mess, has made multiple very public colossal fuckups that have cost us money, yet every year he miraculously gets another massive promotion to everyone else's complete shock.

I'm going to go out on a limb and say that he will not make anywhere in the vicinity of $4B off this.

I don't know. I hear he's good at deals.

xp - I don't think he will either, but even if he pulls in 10% of the number he's covered for the two big court losses

yeah, the problem with the "Donald Trump is going bankrupt" narrative is that he has a pool of about 50 million fanatics who would all probably send him a few bucks

not really seeing news about this anywhere else, kinda skeptical that Trump has just minted 4 billion out of a tie to an unpopular social media site whose only source of revenue is advertising vitamins and gold bars

https://www.nytimes.com/2024/02/26/business/trump-media-digital-world-acquisition-cash.html

Mr. Trump will have an overwhelming majority stake in the postmerger company and own 79 million shares. Shares of Digital World have soared this year on expectations that the deal will be completed and that Mr. Trump will win the Republican nomination for president. The stock closed on Monday at $47.23 per share. At that price, the former president’s stake would be worth nearly $4 billion.

Ah! Well. Nevertheless.

It's down to $45.27 today, which means Trump is 160 million dollars poorer than on Monday. Loser!

regardless of if the scheme works what matters is the journey

Guys, you're missing some major points here, which that quote above underscores -- he needs the money now, and there's no guarantee it'll all be that valued down the pike when he can actually cash in, which is about six months from now.

and jimmy carter had to sell his peanut farm

I mean the latest Trump lawyer filing was them saying "Uhhhh we can give you a bond for $100 million?" That is not a sign of overwhelming confidence in their current situation!

Shares of Digital World have soared this year on expectations that the deal will be completed and that Mr. Trump will win the Republican nomination for president. The stock closed on Monday at $47.23 per share.

Trump will get the nomination. That's a cinch. This merger deal might even close before September and the final run up to the election. But DJT's going to lose and then he'll revert to being the same Florida Man he's been since January 2021. That's if he stays out of jail. So how does that scenario make Truth Social worth one cent more in 2025 than today?

I find that share price of $47 kinda suspicious, since Trump wants to make the number 47 part of his branding, like he did with 45.

https://www.zodiacsigns-horoscope.com/wp-content/uploads/2019/08/47_angel_number-758x426.jpg

Trump loses the most important part of his initial petition to the appellate division in New York.

“The interim stay is denied as to the enforcement of money judgment”https://t.co/5Gx1yAcEVt pic.twitter.com/fpSteed3Qd

— southpaw (@nycsouthpaw) February 28, 2024

Did I also see that he is trying to get away with posting just $100 million of that $400 million plus judgment?

they should allow this, in exchange prosecutors get to light a new property of his on fire each week

only if we can start with Mar-A-Lago

the saudis can cover his debts, no problem

eight fucking years and I can't think of a single significant consequence this guy has had for anything he's done, I am really trying to stay positive here but I am so so tired of it

half afraid of him dying and then finding out he made a deal to come back on weekends or some shit

single significant consequence

Clogged arteries?

how does this work, would Digital World shareholders be very happy about a merger that instantly puts a half a billion hole in their finances. Not really asking - just muttering to myself.

I doubt he can liquidate all of that stock at once.

I doubt he can liquidate all of that stock at once.

But anyone even halfway paying attention knows he's gonna try. Which really limits (or should limit) how high the price will be able to rise. Gonna be hard to pump-and-dump when every other product you've ever slapped your name on has been a flaming bag of shit.

Securities law was my least favorite class in law school, but there may be legal limits on how much he can sell. Not that that would stop him.

so... what just happened with the Supreme Court? did they hand him another win?

so sick of this shit

I don't even have the SC thread bookmarked anymore because it is so relentlessly depressing

“They let you do it”

It's been an up-and-down day in Trump world. On the one hand, the Supreme Court agreed to hear arguments relating to "Presidential immunity" vis-a-vis being thrown off ballots. That'll happen in late April. On the other hand, he got slammed hard financially.

Donald Trump now owes the state of New York $454 million. To appeal the verdict and to pause the state’s efforts to collect the judgment during that appeal, Trump has to post a $454 million bond. Today Trump’s lawyers went into court and asked the judge to accept a $100 million bond in lieu of the $454 million. They said that $100 million was as much as Trump could come up with. If the judge rejected the plea, “properties would likely need to be sold to raise capital under exigent circumstances.” In other words, Trump would have to sell off property at fire-sale prices and suffer harm that could not be undone if he gets the judgment thrown out on appeal.

Associate Justice Anil Singh denied Trump’s request.

the Supreme Court agreed to hear arguments relating to "Presidential immunity" vis-a-vis being thrown off ballots. That'll happen in late April.

OK I can live with this, thank you

also, fuck 5/9 of the Supreme Court forever, die die die

but the immunity case that's being delayed is the DC case about trying to overthrow the 2020 election, not the ballot access case

eight fucking years and I can't think of a single significant consequence this guy has had for anything he's done, I am really trying to stay positive here but I am so so tired of it

― I painted my teeth (sleeve), Wednesday, February 28, 2024 2:28 PM (one hour ago) bookmarkflaglink

same, it's pretty dispiriting

xp oh that's just great, fuck this fucking country forever

yes

sleeve otm, on both counts. I appreciate those of y'all keeping up the optimism for all of us, but I'm pretty fuckin' tired of the, "no wait, really, THIS is the one that will give him a meaningful consequence, promise".

The grift continues down the generations: https://www.theguardian.com/us-news/2024/feb/29/donald-trump-jr-australia-tour-2023-ticket-refunds-waiting-brisbane-melbourne

why the FUCK would you pay to see that weird beard? does he sing or something? fuck that dude and the kangaroo he rode in on

The answer is, I hope, stop following Trump news (I don't) and do what you must to get local Dems enthused.

Ensuring he loses in November means more to me than following the daily scrim but ymmv

I hear that but I am in a blue state, my options are pretty much limited to donating when/where I can afaict