VSHow much are Donald Trump’s rants on social media worth? More than 5 billion dollars (4.6 billion euros), if we are to believe the beginnings of the stock market listing of the network which is completely subservient to it, Truth Social. Result: its main shareholder, Donald Trump himself, could find himself at the head of a jackpot of 3 billion dollars and would thus more than double his fortune, estimated at 2.6 billion dollars by the magazine Forbes.
In these troubled times, Wall Street has lost the concept of money and is swimming in nonsense. The media company is certainly headlined by Donald Trump, former reality TV star and potential president of the United States, but its number of visitors has been halved in one year (around 500,000 per month). In the first nine months of 2023, Truth Social made $3.3 million in advertising revenue, paid $37.7 million in interest on its debts and made a net loss of $49 million. A micro-SME without growth linked to 78 years of glory!
The Reddit network, which has just listed on the stock market, had a market capitalization of $8 billion on Friday March 22. As for Twitter, which has become
Ingenious tactic
The case dates back to 2021. Driven from social networks following the assault on the Capitol, Donald Trump launched his own, without a penny of capital. He decides to merge his company with Digital World Acquisition Corporation, a shell, created by an obscure Miami banker, not so empty after all since it managed to raise $293 million in cash. The whole thing is valued at $875 million.
In the meantime, some 400,000 supporters of the Republican candidate for the 2024 presidential election, lending him alchemist powers, bought the stock, whose value quadrupled on the stock market. In the short term, they adopted an ingenious tactic: instead of donating funds to the Trump campaign, they bought shares, hoping to make money and save their champion from bankruptcy who must pay $454 million to the New York justice.
Let’s bet that the action will not last long, even if the strength of individual shareholders now makes it possible to fight against large institutions, as shown, in 2021, despite all economic logic, the surge in popular actions such as than those of GameStop video games and AMC theaters.
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