Trump’s Net Worth Hits $6.5 Billion, Making Him One of World’s 500 Richest People

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[–]neolib 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (3 children)

It's Truth Social shares, here's an article on the topic:

Wall Street is assigning Trump Media an eye-popping valuation of around $13 billion — a price tag that experts warn is untethered to reality.

https://edition.cnn.com/2024/03/26/markets/trump-media-stock-truth-social/index.html

[–]YoMamma 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

Thanks, that is indeed eye-popping, because I think it's illegal to overvalue shares. As I noted elsewhere in the thread, the best valuation I can find was reported by the Associated Press:

...a maximum value of $5 million, or as much as $25 million ...

https://apnews.com/article/trump-financial-disclosure-filing-social-media-de11cc60d72365b01cc58f790c6005a8

https://en.wikipedia.org/wiki/Truth_Social#cite_ref-18

That said, the court system should work, rather than our having to wait for these delays that potentially corrupt appeals court judges are allowing.

[–]ActuallyNot 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Thanks, that is indeed eye-popping, because I think it's illegal to overvalue shares.

Someone is buying the shares for a stupidly high price. Perhaps Ivanka's husband is pumping all that Saudi money he got control of for no apparent reason, but since Trump stole US military secrets, into them.

The skyrocketing share price comes despite the fact that Trump Media is burning through cash; piling up losses; and its main product, Truth Social, is losing users.

Some kind of price manipulation then.

Likely after the abject embarrassment of having to file that he couldn't post the bond to stay the execution of the judgement of the New York fraud judgement while he appeals, he's tried to get some press together to dilute the impression that he's broke ... against the main point of his platform.

[–]GuyWhite 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Price manipulation? Very interesting gossip!