4 ms·

The stock is a legal way to buy favors from Trump.

by Cheer2171 2y ago

ungreased0675 2y ago
Can you explain that further?
- mechagodzilla 2y ago
  Donald Trump owns ~80 million shares of Truth Social (58%). The company, as a profit-making enterprise, is basically an abject failure, but as a way to funnel money to Donald Trump, it is a roaring success. It would be frowned upon if a foreign government were to write a check to Donald Trump for, say, $100 million, but a sovereign wealth fund is perfectly capable of 'investing' a similar amount in his useless shell corporation. His stock in Truth Social, which has no possible future in which it's a profitable enterprise, is worth a few billion dollars because people with money are willing to use it as a vehicle to bypass restrictions on campaign donations.
  - fred_is_fred 2y ago
    Just like selling Bibles to churches who can’t make campaign donations. Everything with him is a grift. People need to remember that.
JumpCrisscross 2y ago
> stock is a legal way to buy favors from Trump It’s closer to an NFT. He doesn’t directly benefit from holders; there are more direct ways to enrich him, e.g. loans.
- Cheer2171 2y ago
  If the Saudis want to "invest" $2 billion, they don't have to give it to Jared Kushner, they can just have their sovereign wealth fund dump it into this company and let the Trumps do whatever they want with it.
  - JumpCrisscross 2y ago
    > they can just have their sovereign wealth fund dump it into this company Not how secondary markets work.
    - ceejayoz 2y ago
      Why would you need a secondary market to buy $DJT shares?
      - JumpCrisscross 2y ago
        > Why would you need a secondary market to buy $DJT shares? The people buying shares on the stock exchange are not buying them from Trump. They are not buying them from Truth Social. Trying to bribe Trump by buying DJT on the open market is beyond bone-headed dumb.
        ceejayoz 2y ago
        Trump owns 57% of the shares. (Possibly more now; https://www.cnn.com/2024/04/22/business/trump-media-stock-truth-social/index.html https://www.cnn.com/2024/04/22/business/trump-media-stock-tr... says 65% either now or shortly) You don't need to buy new ones from Truth; you buy ones already on the market to run the price up. This directly benefits the guy holding the majority of the shares, and in a few months he can freely sell them. Same way a pump-and-dump works, but the "victims" (who've already run similar plays; https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-investment-fund.html https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-in...) don't even mind losing the money.
        JumpCrisscross 2y ago
        > You don't need to buy new ones from Truth; you buy ones already on the market to run the price up. This directly benefits the guy holding the majority You’re describing a pump without the dump. There are a lot of reasons this is invalid. Please take it from a professional in this space for decades that your hypothesis is testably false. Even if it did transfer wealth to the Trumps, it wouldn’t do so definitively, and so be diluted in leverage in comparison with a smaller, more direct measure.

The stock is a legal way to buy favors from Trump.

ungreased0675 2y ago

Can you explain that further?

mechagodzilla 2y ago
Donald Trump owns ~80 million shares of Truth Social (58%). The company, as a profit-making enterprise, is basically an abject failure, but as a way to funnel money to Donald Trump, it is a roaring success. It would be frowned upon if a foreign government were to write a check to Donald Trump for, say, $100 million, but a sovereign wealth fund is perfectly capable of 'investing' a similar amount in his useless shell corporation. His stock in Truth Social, which has no possible future in which it's a profitable enterprise, is worth a few billion dollars because people with money are willing to use it as a vehicle to bypass restrictions on campaign donations.
- fred_is_fred 2y ago
  Just like selling Bibles to churches who can’t make campaign donations. Everything with him is a grift. People need to remember that.

JumpCrisscross 2y ago

> stock is a legal way to buy favors from Trump It’s closer to an NFT. He doesn’t directly benefit from holders; there are more direct ways to enrich him, e.g. loans.

Cheer2171 2y ago
If the Saudis want to "invest" $2 billion, they don't have to give it to Jared Kushner, they can just have their sovereign wealth fund dump it into this company and let the Trumps do whatever they want with it.
- JumpCrisscross 2y ago
  > they can just have their sovereign wealth fund dump it into this company Not how secondary markets work.
  - ceejayoz 2y ago
    Why would you need a secondary market to buy $DJT shares?
    - JumpCrisscross 2y ago
      > Why would you need a secondary market to buy $DJT shares? The people buying shares on the stock exchange are not buying them from Trump. They are not buying them from Truth Social. Trying to bribe Trump by buying DJT on the open market is beyond bone-headed dumb.
      - ceejayoz 2y ago
        Trump owns 57% of the shares. (Possibly more now; https://www.cnn.com/2024/04/22/business/trump-media-stock-truth-social/index.html https://www.cnn.com/2024/04/22/business/trump-media-stock-tr... says 65% either now or shortly) You don't need to buy new ones from Truth; you buy ones already on the market to run the price up. This directly benefits the guy holding the majority of the shares, and in a few months he can freely sell them. Same way a pump-and-dump works, but the "victims" (who've already run similar plays; https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-investment-fund.html https://www.nytimes.com/2022/04/10/us/jared-kushner-saudi-in...) don't even mind losing the money.
        JumpCrisscross 2y ago
        > You don't need to buy new ones from Truth; you buy ones already on the market to run the price up. This directly benefits the guy holding the majority You’re describing a pump without the dump. There are a lot of reasons this is invalid. Please take it from a professional in this space for decades that your hypothesis is testably false. Even if it did transfer wealth to the Trumps, it wouldn’t do so definitively, and so be diluted in leverage in comparison with a smaller, more direct measure.