An April SEC filing for Trump Media reveals new details on early investors in Trump’s company - including ex FL AG Pam Bondi who owns 100,000+ shares worth several million dollars and her brother advised on the deal.
Last week, #TrumpMedia reported sales of just over $4 million in 2023 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."
If #MAGA stooges think earning $4 million on top of LOSING $60 million is a "great business," then there's little wonder why they intend to vote for #Trump.
It's because they are stupid.
"Watching Trump sell his swindle about migrants, it occurred to me that those suckered by the Trump Media IPO got a better deal, relatively speaking. Those who bought “DJT” shares lost only their shirts. But those who have been snookered into seeing migrants as diseased animals have lost part of their souls." https://www.washingtonpost.com/opinions/2024/04/05/trump-swindle-crowd-green-bay-rally/
Donald Trump's Truth Social is set to become part of a publicly traded company after a long-delayed merger was approved.
On Friday, a shell company created solely to buy Truth Social's parent company, Trump Media & Technology Group, approved the merger, The New York Times reported.
👉Trump's net worth is set to jump more than $3 billion from the deal, based on his large stake in the social-media platform he helped create in the wake of his post-January 6, 2021, Capitol-riot bans on mainstream platforms.
Trump won't be able to sell his shares for at least six months 🔸unless the company's board waives a previous lockup agreement.
But if Trump wants to access his money sooner, it may not be a problem: The Washington Post pointed out the board would be stacked with Trump's allies.
Former congressman #Devin#Nunes, who was already the CEO of Truth Social's parent company, is set to become the CEO of the combined companies.
Donald #Trump#Jr., Trump's eldest son, also plans to be on the board.
The former Trump Cabinet officials #Robert#Lighthizer, who served as Trump's US trade representative, and #Linda#McMahon, who served as the administrator of the Small Business Administration, are also set to be on the board.
As soon as Monday, the new company could be relisted on the Nasdaq under the symbol #DJT, the miscreant's initials.
However there are also lawsuits between shareholders that could complicate the company's future.
The prospective windfall comes at a critical time for Trump -- He faces mounting costs from his legal fees and fallout from other cases.
"I can do nothing against the Red mob with a police force which is afraid of being punished for doing what is only its duty. " - From "Gestapo" by Edward Crankshaw
For some a stressful week has ended well, #justice having been served at the ground level, even as Sir #TrumpVirus claims vindication (pre retribution) - while attacking the jurors his attorneys chose.
(Wonder if they'll be paid now!)
But the verdict resulted in lots of new contribution$, driving the #DJT stock up.
My understanding is that a felon cannot be a beneficial owner of a publicly traded company with a higher than 20% share. What does that mean in terms of Trump 's ownership of #DJT ?