Former President Donald Trumpβs social media stock is plunging just ahead of the election, cutting deeply into his net worth.
After the closing bell on Tuesday, shares were priced at $51, valuing Trumpβs dominant stake in the company at about $5.9 billion. On Friday, the value of Trumpβs shares tumbled to $3.5 billion. That means Trump lost $2.4 billion in net worth
since Tuesday.
https://www.cnn.com/2024/11/01/investing/trump-stock-net-worth/index.html
Day traders too I knew it would tank.
That would constitute a massive, and massively illegal, "campaign contribution", especially since there's objectively no rational reason to invest in Truth Social.
Their own annual report says, "We're losing boatloads of money, and odds are good that will never change."
@disk4mat
I think musk or someone else promised to cover trump's losses on Truth Social so trump wouldn't sell out all of his stock at the end of September... because it would have been a bad hit to his "character" to have crashed it leaving all his dedicated "investors" with nothing.
trump would have done it in a heartbeat.