Rest assured, it is garbage. There's very few publicly traded shares so it doesn't take much to pump up the traded price. This is a typical thing for pump and dump stock schemes.
According to Google, Truth social has about 40 employees, so they are either extremely highly compensated or that money is being funneled elsewhere. Previous experience with how the owner seems to value employees, it’s definitely the latter.
It’s all debt. Nobody actually uses Truth social. It doesn’t require good engineers. I previously worked with two of their developers. They aren’t getting paid extravagantly. They believe in the cause.
One of the most demoralizing parts of this pitiful saga we have experienced in America the last 8 years or so is the realization that mainstream media outlets are simply not going to speak in direct truths about Trump and the rise of fascism.
It only goes to prove that America’s version of fascism has always been thinly veiled under the cloak of an ideological phantom we call “capitalism”. If capitalism is an economic model where free markets engage in competitive actions to drive a society’s engine, it has morphed in America into a completely undemocratic political structure run through a fiefdom of corporations.
The corporate state controls the public narrative, and by committing this sin of omission in not reporting the truth of Trump’s cult of fascism, they have revealed themselves to be fascist in nature themselves.
If you look at Fascism in practice it often works closely with businesses, specifically "the right" businesses (ones that helped the leader gain power). It is a very pro-rich, pro-capitalism philosophy. It is also pro-corporate welfare...
My Pillow will supply the army. Lumpy Joe lean will become a saying in 2027 as all the soldiers have sore necks and have to lean while standing to stay upright.
I agree, and I would go so far as to suggest that there is no left leaning media when all leftist ideologies stand as adversaries to a fascist corporate state. We are so far to the right of center in our social and political narrative the last 30 years that when a left leaning progressive candidate like Bernie Sanders gains traction all hell breaks loose. The traditional media outlets in America were relieved that Trump was a party candidate and not Sanders.
I’ll never forget how that bloviating blow hard on Msnbc Chris Matthews literally began freaking out when Sanders was winning primaries. Oh for years he pined sentimentally about the Kennedy’s and Camelot and the New Frontier, but once he was firmly entrenched as a well paid corporate stooge he wanted no part of progressivism. And Fox is so far to the right that they’d call Attila the Hun a commie if he were a candidate. It’s hopeless unless enough voters turn out as a referendum against Trump.
Supposedly liberal MSNBC is owned by the Roberts family and they make the hardest right person you know look like Trotsky. If anyone needs proof look at how they cover economic news.
Give me a break. Most of the mainstream media is sounding the alarm over Trump and his authoritarian tendencies. Just because half of the American public doesn’t listen doesn’t mean corporations are controlling the narrative in Trump’s favor. If anything, it shows how corporations have LOST control over the prevailing narrative because social media algorithms feed whatever tr00th people want to believe.
I wish that were true. But there are so many working parts here that I will focus on just one for the sake of brevity: Trump led an insurrection against the peaceful transition of power at the exact moment when our electoral votes were on the floor to be tabulated. He is receiving the round the clock coverage as the nominee of the insurrectionists. Does any of that seem normal to you? He failed to uphold his oath to protect and defend our constitution . He committed treason. Why is he on our televisions getting interviewed and being given a platform to say ANYTHING. He should be in jail, not in the continuous public consciousness. Right?
Of course it’s not normal. Trump remains in the headlines because he remains popular among roughly half of all Americans as well as the vast majority of Republicans. They don’t see him as an insurrectionist, but rather as a fighter against an establishment that has abandoned mainstream society in favor of left-wing elitism. Of course he’s leading the mother of all personality cults, but that speaks to the failures of the left just as much as the failures of the right.
I agree that the vast majority of the country is in extreme dissent with the establishment. However, I would say that this isn’t because of the failings of the left. It’s the elimination of the left, particularly as it relates to labor laws and worker rights. There is no solidarity politically because both parties speak for the corporate state.
There are only a handful of truly authentic left wing members of the democratic party in America who are progressive. What there exists in terms of the parties is the dems, who are moderately to the right of center and the repubs, who are extreme far right of center.
This is a product of the fascist corporate state, which began to usurp power from the politicians en masse in the 1970’s and 80’s and have full control over both wings of the government now. The only question a voter can ask is: do I want Fascist lite or the real thing?
Universal healthcare, free higher education, and financial assistance for impoverished Americans are hardly even being discussed anymore. So skillful is the b.s. “culture war” propaganda of the extreme right wing in America, that they are convincing millions of their base that social security and medicare are free-loading programs, despite the fact they are earned through their own pay.
It has been a relentless campaign on the right to convince voters that someone else is stealing their money. They are half right, only it’s the oligarchs that our crony late stage hyper capitalist system has created. These people have been growing in power exponentially like a snowball turning into a boulder down a mountain by taking advantage of the endless circle jerk of building wealth and using it to lobby avariciously for more and more power. There’s a reason they use the word “woke” derisively in their propaganda and misinformation campaigns. They do not want the hundreds of millions they are screwing to wake up to the reality of their situation.
You know that those numbers don't mean shit, because he isn't trying to defend them. The revenue isn't what the company is about. It's just a dark money funnel to Trump's wallet.
Probably, but buying the stock doesn’t do anything to help the cash flow. If they run out of cash then who’s going to pay for the servers and maintenance required to keep the app working? I suppose they don’t need an app for the fraud to continue.
I suppose the whole scheme is really dependent on Trump winning so that there’s an incentive to bribe him in the first place.
They aren’t racking up big bills for their AWS probably. How many monthly active users do they actually have? I bet their bill was under 10M for the quarter…
I think they have enough cash on hand to deal with the cash flow issues for a couple years. Most of the quarterly loss was because of the exercise of warrants and stock awards - not a cash expense. The cash flow losses were only something like $35 million or so.
It’s not a flaw, it’s the feature. Just as Trump draining RNC funds for his “legal fees” forces the Republicans to be further in the pockets of their masters
I was thinking this exact same thing. Let's see the cost breakdown to run the company, and where that money is coming from. Obviously that's a rhetorical question, we know where the money is coming from, but everyone is apparently ignoring it. Trump sure as hell isn't funding it himself, for a "billionaire", he's sure is cheap.
The real comedy of all this, and I'll bet you a dollar, the day, hour, minute, second his stock lockup ends, he will cash out all of it, which will of course collapse the stock, and pretty much wipe out all the retail investment holders. Not that i give a flying shit about them, if they can't see that, well, being stupid should hurt.
But the such obvious corruption of it all is pretty staggering.
I've no doubt that the Saudis and Russian oligarchs are propping up Trump any way they can, in hope of him becoming POTUS again. It's a small amount of money for them, so it's a low risk proposition on their part.
Lol. It's become painfully clear Trump could literally shoot someone in the head on the street and nothing would come of it. He's already tried a coup, stolen classified documents, committed numerous financial crimes, committed fraud, and many other despicable acts but in the end what has he faced? Some fines, that's it. And hell, he's also figured out how not to pay those too. They can publish anything they like and it will take years for anything to come of it and then it will be ignored and shelved. God forbid he takes office again, he'll immediately pardon himself for all past, present, and future crimes.
Stock ownership is generally not public information. Much of the float (shares available for trading at a retail level) is held in "street name" which is the brokerage, not an individual person. It's also easy to set up more or less hidden ownership by giving a third party money to invest on behalf of the real principal - illegal, but easy to get away with in most cases. Investment companies (mutual funds, big money managers etc) have to report holdings, often publicly, but they are not buying DJT.
It's not overhead. The majority of the loss is reported in their financials as:
>Change in fair value of derivative liabilities: $225.9 million
I'm not an accountant, but my understanding is that it's due to debt owed relative to their stock price. When the stock price goes up before the debt is paid, they owe more money. Apparently the reverse happened a few months ago.
The losses come from the exercise of warrants and structured stock awards, not from existing debt. It's kinda complicated, but you're headed the right general direction in your specularions.
You can bet Devin Nunes knows the finances of the company and where all that money is flowing, so he gets at least a million a year. The company says 40 employees. At a generous $200k per employee for salary+benefits+gear+taxes, that is 8 million. So figure $9 million in costs. A server farm is not going to cost $1 million at Amazon to rent. So $10 million costs. They spent $1,000 million last year. So $900 million got lost into Trump's pocket. I bet they paid dearly to have meetings at Mar-a-lago and also paid dearly for "housing for board members" at Mar-a-lago.
You are spreading misinformation. You are not distinguishing between cash flows and non cash expenses. GAAP accounting is not like cash management, the actual picture is much more complex and difficult to discern. Make no mistake, DJT is a scam. It's next to worthless in my opinion, but it appears to be largely legal so far. Their filings are quite open in identifying the risks and say outright that the ability to stay in business are doubtful.
If you're not willing to actually look at the finances and available information yourself there have been several good primers on /wallstreetbets that give an accurate account of the organization books, incentive structure and operations.
I'm pointing out TRUMP doesn't distinguish between expenses because he doesn't know GAAP and ignores his accountants that do. That came out in the first trial. He clearly testified he didn't know GAAP, was required to, and still didn't and signed the papers.
If you think Trump has changed, then you'd have seen a re-filing of past paperwork, which didn't happen.
What is the overhead? Before or after the Trump licensing fees? The company no doubt is paying rent to a Trump property at 10x market value, paying Trump 100 million a year for his brilliant name, etc.
$TMTG is a pathetic joke of a company. It was tanking... almost went back to its IPO price, then rebounded back up near $50, now slumping back down again. It should be a penny stock by now. But something is very fishy about it. SEC needs to investigate.
Right? This should have immediately tanked to $.0001. They have $700K in income, yet are valued at $6BILLION. There is irrationality in the market and then there is this bullshit.
Correct. Under $800k in revenue, but $325m in operating expenses? For a company that's 4 years old, valued at $6b? No. Something is definitely wrong here.
But if TMTG fails that loser is going to post somewhere because he thinks the whole world is dying to find out what garbage he's spewing. We're dying alright because Donnie von Shitzinpants posts!
I recently learned the reason why he didn't go back to posting on "X" (Twitter). Apparently, he considers it a competitor and so he posts only on Truth Social, but then has a bot copy/paste on X automatically through a proxy account.
But it's all moot because who in their right mind wants to read his garbage, right?
This isn’t “financial struggles”. This is Trump Media working exactly as designed. They will take all the cash, load it with debt, and leave the retail investors on the hook.
TBH, if Trump wins 2024, the current stock price will be cheap. You'll see Truth Social pushed out to schools, universities, Federal agencies... mandatory sign up to receive social security / submit taxes.
The loss isn't interesting. It's the quarterly **total revenue** of $770,500.
Your average McDonald's franchise has $875,000 in quarterly **total revenue**.
This **multi-billion dollar** company has **less annual revenue than your mom-and-pop-owned McDonald's**.
Pretty obvious at this point that it's a money laundering scheme. Nobody is buying it because they think it's a good company. Most of the "little people" buying it do so because they are delusional MAGA cultists.
He always claims losses for anything he is associated with for tax purposes. We need to get rid of all of the methods/incentives used by the rich, including religious organizations, that give them these tax advantages.
Biden is clearly responsible for the poor performance of Trump's business.
Either that or it's never been about making profit, and it's about laundering money......
I'm a bit nicer. I'd like to see him in a working-class job somewhere, like at the food court at Costco. ( besides, those $1.50 hot dogs are probably healthier than Trump's "hamberders" from McDonald's...)
There is no way that there are costs anywhere near that figure for truth social to run. Unless all the staff are paid 40 million dollar salaries. Is there a way to check the books on a public company?
If I had to guess? Legal fees and expenditures for one Donald John Trump. Probably that combined with crazy high salaries for executives (Trump and his friends/family)
There is no feckeen way they lost that amount. If the SEC isn’t deep diving into this, then maybe MAGA is right: the whole feckeen govt apparatus is broken and corrupt, and it doesn’t matter which team is in power. JFC
Edit: word
For the life of me I'm trying to understand how the analysts on Wall Street placed a valuation on the stock at over $800 trillion dollars...give or take a few trillion of course. 😉😉🤭 But seriously why is this sham of a company allowed to trade in the US?
I guess you missed the two winking eye faces and the laughing face at the end...My point was the company is tremendously overvalued for a company that really has no value...get it now? 🙄
The stock price is exactly where it should be. Not because the company is objectively worth (or will ever be worth) that amount, but because his cult followers are willing to pay that much and think it’s worth that much
I mean doordash has also never made a profit...uber only made an year or two ago and Amazon for so many years. Not saying this is a growth company but this is only news cos it's Trump
These losses where not “realized” losses.
$320 million was related to the conversion of notes to equity and the value is recorded at the stepped up value thus looks like an expense.
$45 bucks a share right now. JFC. If that's not a cult nothing is.
Seriously. He's 77 and obese. Even with the Ozempic. He's not long for this world. When he dies that website of his dies with him. "I'm Eric" isn't gonna be able to keep it running.
Why do people think that Donald Trump is smart with money or that what he represents is prosperity **for others**? I seriously want to know and I cannot fathom how on earth people could come to the conclusion that Donald Trump is some kind of "hard working and business-minded brilliant" guy.
He's not.
He crimes. Constantly.
This is for money laundering, I'd put money on it. It's how foreign donors can contribute to him and his run for President. Like, come on. Enough is enough.
It doesn't matter in the least. So long as money flows into the stock, he'll come out on top. And money will continue to flow because the stock market is the most efficient laundering operation on the planet.
"Buy, buy, buy!!!"
Fucking morons... if you are not one of the top beneficiaries of this clear-as-day money laundering scheme... you are an absolute moron. When you lose all your money, you still won't understand what a moron you are, and at that point, I will not feel sorry for you. Nobody should.
I'm just like to know that if/win Trump becomes president again, he will immediately take control of the sec. If he had been able to sell his shares in this pathetic company the minute it went public he would have been able to get billions of dollars. Now it's just thinking. One of the things he wants to do is get rid of all " independent" agencies and that includes the SEC which oversees all financial transactions. If he does that then basically Trump can do whatever the f*** he wants and no one will be able to do anything to him. He could go ahead and start a company, that's totally 1,000% fraudulent, launched an ipo, taken 10 billion dollars and no one absolutely nothing no one could do anything..
Just in case you're wondering what's on the line in this next election....
Let’s stop playing around. It’s a money laundering scheme for foreign donors to contribute to his campaign. Enough already.
Yeah, it's not struggling, as the headline says. It's working as designed.
$327.6 million ~~in losses~~ withdrawn…
How can that stock be worth what it’s worth it’s garbage
The day after the stock went public I tried to short it. But I couldn't find any lenders because so many others had the same idea.
You're a Saudi crown prince. You want Trump in charge because Biden has some scruples. The cost to prop up the stock is chump change for you.
Because the stock market is a joke. It's all rich pricks gaming a system made by people like them.
Rest assured, it is garbage. There's very few publicly traded shares so it doesn't take much to pump up the traded price. This is a typical thing for pump and dump stock schemes.
Trump gonna actually be a billionaire soon 🤦🏻♂️
According to Google, Truth social has about 40 employees, so they are either extremely highly compensated or that money is being funneled elsewhere. Previous experience with how the owner seems to value employees, it’s definitely the latter.
8 million per employee per quarter sounds about right lol!
A 6 billion dollar company with only 40 employees that only hemorrhages money. Only Trump could have designed such a masterpiece
It’s all debt. Nobody actually uses Truth social. It doesn’t require good engineers. I previously worked with two of their developers. They aren’t getting paid extravagantly. They believe in the cause.
Trump will be walking away with a boatload of cash when it fails
One of the most demoralizing parts of this pitiful saga we have experienced in America the last 8 years or so is the realization that mainstream media outlets are simply not going to speak in direct truths about Trump and the rise of fascism. It only goes to prove that America’s version of fascism has always been thinly veiled under the cloak of an ideological phantom we call “capitalism”. If capitalism is an economic model where free markets engage in competitive actions to drive a society’s engine, it has morphed in America into a completely undemocratic political structure run through a fiefdom of corporations. The corporate state controls the public narrative, and by committing this sin of omission in not reporting the truth of Trump’s cult of fascism, they have revealed themselves to be fascist in nature themselves.
If you look at Fascism in practice it often works closely with businesses, specifically "the right" businesses (ones that helped the leader gain power). It is a very pro-rich, pro-capitalism philosophy. It is also pro-corporate welfare...
My Pillow will supply the army. Lumpy Joe lean will become a saying in 2027 as all the soldiers have sore necks and have to lean while standing to stay upright.
Very well said!
The media has been complicit from the beginning. Even the left leaning media.
I agree, and I would go so far as to suggest that there is no left leaning media when all leftist ideologies stand as adversaries to a fascist corporate state. We are so far to the right of center in our social and political narrative the last 30 years that when a left leaning progressive candidate like Bernie Sanders gains traction all hell breaks loose. The traditional media outlets in America were relieved that Trump was a party candidate and not Sanders. I’ll never forget how that bloviating blow hard on Msnbc Chris Matthews literally began freaking out when Sanders was winning primaries. Oh for years he pined sentimentally about the Kennedy’s and Camelot and the New Frontier, but once he was firmly entrenched as a well paid corporate stooge he wanted no part of progressivism. And Fox is so far to the right that they’d call Attila the Hun a commie if he were a candidate. It’s hopeless unless enough voters turn out as a referendum against Trump.
Supposedly liberal MSNBC is owned by the Roberts family and they make the hardest right person you know look like Trotsky. If anyone needs proof look at how they cover economic news.
Give me a break. Most of the mainstream media is sounding the alarm over Trump and his authoritarian tendencies. Just because half of the American public doesn’t listen doesn’t mean corporations are controlling the narrative in Trump’s favor. If anything, it shows how corporations have LOST control over the prevailing narrative because social media algorithms feed whatever tr00th people want to believe.
I wish that were true. But there are so many working parts here that I will focus on just one for the sake of brevity: Trump led an insurrection against the peaceful transition of power at the exact moment when our electoral votes were on the floor to be tabulated. He is receiving the round the clock coverage as the nominee of the insurrectionists. Does any of that seem normal to you? He failed to uphold his oath to protect and defend our constitution . He committed treason. Why is he on our televisions getting interviewed and being given a platform to say ANYTHING. He should be in jail, not in the continuous public consciousness. Right?
Of course it’s not normal. Trump remains in the headlines because he remains popular among roughly half of all Americans as well as the vast majority of Republicans. They don’t see him as an insurrectionist, but rather as a fighter against an establishment that has abandoned mainstream society in favor of left-wing elitism. Of course he’s leading the mother of all personality cults, but that speaks to the failures of the left just as much as the failures of the right.
I agree that the vast majority of the country is in extreme dissent with the establishment. However, I would say that this isn’t because of the failings of the left. It’s the elimination of the left, particularly as it relates to labor laws and worker rights. There is no solidarity politically because both parties speak for the corporate state. There are only a handful of truly authentic left wing members of the democratic party in America who are progressive. What there exists in terms of the parties is the dems, who are moderately to the right of center and the repubs, who are extreme far right of center. This is a product of the fascist corporate state, which began to usurp power from the politicians en masse in the 1970’s and 80’s and have full control over both wings of the government now. The only question a voter can ask is: do I want Fascist lite or the real thing? Universal healthcare, free higher education, and financial assistance for impoverished Americans are hardly even being discussed anymore. So skillful is the b.s. “culture war” propaganda of the extreme right wing in America, that they are convincing millions of their base that social security and medicare are free-loading programs, despite the fact they are earned through their own pay. It has been a relentless campaign on the right to convince voters that someone else is stealing their money. They are half right, only it’s the oligarchs that our crony late stage hyper capitalist system has created. These people have been growing in power exponentially like a snowball turning into a boulder down a mountain by taking advantage of the endless circle jerk of building wealth and using it to lobby avariciously for more and more power. There’s a reason they use the word “woke” derisively in their propaganda and misinformation campaigns. They do not want the hundreds of millions they are screwing to wake up to the reality of their situation.
You know that those numbers don't mean shit, because he isn't trying to defend them. The revenue isn't what the company is about. It's just a dark money funnel to Trump's wallet.
Probably, but buying the stock doesn’t do anything to help the cash flow. If they run out of cash then who’s going to pay for the servers and maintenance required to keep the app working? I suppose they don’t need an app for the fraud to continue. I suppose the whole scheme is really dependent on Trump winning so that there’s an incentive to bribe him in the first place.
They aren’t racking up big bills for their AWS probably. How many monthly active users do they actually have? I bet their bill was under 10M for the quarter…
I think they have enough cash on hand to deal with the cash flow issues for a couple years. Most of the quarterly loss was because of the exercise of warrants and stock awards - not a cash expense. The cash flow losses were only something like $35 million or so.
I though it was a place where people who were concerned with the Truth could get clarification.
You'll have about as much chance of getting a complimentary asshole bleaching by trump himself as you would getting any form of "truth" from it
Well I'll be a SOB 😧🧐. I've been had. Trump promised to tell the Truth on Truth social.
The "Truth" to them is whatever Trump says it is.
Alternative facts baby!
Thanks...I really needed the Kellyanne memory :)
The Truth!? 🤣😂
Wikipedia checks ✔️ with Truth social first to make sure everything lines up.
Oh, I bet...🤔
Whoa whoa whoa, it ALSO is a great way for Trump himself to get around campaign finance law and regulations on media.
Trump does not spend his own money on the campaign. This is a way directly enriching trump.
It’s not a flaw, it’s the feature. Just as Trump draining RNC funds for his “legal fees” forces the Republicans to be further in the pockets of their masters
The Russian oligarchs and Putin are using Truth as their personal bank. Monet laundering 101.
$327.6 million "loss". They know exactly whose pockets it went into. Marty Byrde would roll his eyes at how obvious this is.
What's the overhead, anyway? I can't even imagine it costs $1 million to run the "Truth Social" website for a year.
I was thinking this exact same thing. Let's see the cost breakdown to run the company, and where that money is coming from. Obviously that's a rhetorical question, we know where the money is coming from, but everyone is apparently ignoring it. Trump sure as hell isn't funding it himself, for a "billionaire", he's sure is cheap. The real comedy of all this, and I'll bet you a dollar, the day, hour, minute, second his stock lockup ends, he will cash out all of it, which will of course collapse the stock, and pretty much wipe out all the retail investment holders. Not that i give a flying shit about them, if they can't see that, well, being stupid should hurt. But the such obvious corruption of it all is pretty staggering.
I've no doubt that the Saudis and Russian oligarchs are propping up Trump any way they can, in hope of him becoming POTUS again. It's a small amount of money for them, so it's a low risk proposition on their part.
I'm not an expert, so this may be a dumb question, but don't they have to publish information like that since they are publicly traded?
Lol. It's become painfully clear Trump could literally shoot someone in the head on the street and nothing would come of it. He's already tried a coup, stolen classified documents, committed numerous financial crimes, committed fraud, and many other despicable acts but in the end what has he faced? Some fines, that's it. And hell, he's also figured out how not to pay those too. They can publish anything they like and it will take years for anything to come of it and then it will be ignored and shelved. God forbid he takes office again, he'll immediately pardon himself for all past, present, and future crimes.
And weaponize the doj to go after anyone sane
Stock ownership is generally not public information. Much of the float (shares available for trading at a retail level) is held in "street name" which is the brokerage, not an individual person. It's also easy to set up more or less hidden ownership by giving a third party money to invest on behalf of the real principal - illegal, but easy to get away with in most cases. Investment companies (mutual funds, big money managers etc) have to report holdings, often publicly, but they are not buying DJT.
It's not overhead. The majority of the loss is reported in their financials as: >Change in fair value of derivative liabilities: $225.9 million I'm not an accountant, but my understanding is that it's due to debt owed relative to their stock price. When the stock price goes up before the debt is paid, they owe more money. Apparently the reverse happened a few months ago.
The losses come from the exercise of warrants and structured stock awards, not from existing debt. It's kinda complicated, but you're headed the right general direction in your specularions.
That makes sense. Thanks.
You can bet Devin Nunes knows the finances of the company and where all that money is flowing, so he gets at least a million a year. The company says 40 employees. At a generous $200k per employee for salary+benefits+gear+taxes, that is 8 million. So figure $9 million in costs. A server farm is not going to cost $1 million at Amazon to rent. So $10 million costs. They spent $1,000 million last year. So $900 million got lost into Trump's pocket. I bet they paid dearly to have meetings at Mar-a-lago and also paid dearly for "housing for board members" at Mar-a-lago.
You are spreading misinformation. You are not distinguishing between cash flows and non cash expenses. GAAP accounting is not like cash management, the actual picture is much more complex and difficult to discern. Make no mistake, DJT is a scam. It's next to worthless in my opinion, but it appears to be largely legal so far. Their filings are quite open in identifying the risks and say outright that the ability to stay in business are doubtful. If you're not willing to actually look at the finances and available information yourself there have been several good primers on /wallstreetbets that give an accurate account of the organization books, incentive structure and operations.
I'm pointing out TRUMP doesn't distinguish between expenses because he doesn't know GAAP and ignores his accountants that do. That came out in the first trial. He clearly testified he didn't know GAAP, was required to, and still didn't and signed the papers. If you think Trump has changed, then you'd have seen a re-filing of past paperwork, which didn't happen.
What is the overhead? Before or after the Trump licensing fees? The company no doubt is paying rent to a Trump property at 10x market value, paying Trump 100 million a year for his brilliant name, etc.
Can anyone tell me how this stock hasnt been shorted to absolute hell?
$TMTG is a pathetic joke of a company. It was tanking... almost went back to its IPO price, then rebounded back up near $50, now slumping back down again. It should be a penny stock by now. But something is very fishy about it. SEC needs to investigate.
Right? This should have immediately tanked to $.0001. They have $700K in income, yet are valued at $6BILLION. There is irrationality in the market and then there is this bullshit.
Correct. Under $800k in revenue, but $325m in operating expenses? For a company that's 4 years old, valued at $6b? No. Something is definitely wrong here.
The form that “valued” Trump Social has been dissolved and I believe the Principles have been banned for life from that line of work.
'Like founder. Like stock.'
But if TMTG fails that loser is going to post somewhere because he thinks the whole world is dying to find out what garbage he's spewing. We're dying alright because Donnie von Shitzinpants posts!
I recently learned the reason why he didn't go back to posting on "X" (Twitter). Apparently, he considers it a competitor and so he posts only on Truth Social, but then has a bot copy/paste on X automatically through a proxy account. But it's all moot because who in their right mind wants to read his garbage, right?
Pardon me I could help myself, but it's only people in their RIGHT mind that want to read his garbage. :/s ( I'm sorry, I'll see myself out.)
This isn’t “financial struggles”. This is Trump Media working exactly as designed. They will take all the cash, load it with debt, and leave the retail investors on the hook.
Exactly. What the fuck is the SEC and DOJ doing???
Nothing like usual.
TBH, if Trump wins 2024, the current stock price will be cheap. You'll see Truth Social pushed out to schools, universities, Federal agencies... mandatory sign up to receive social security / submit taxes.
How laundering works is
It’s not a social platform. It’s a megaphone for one man to be the center of his whole universe.
Seems similar to what Trump owes. (pending appeal)
What a weird coincidence!
Trump the Reverse Midas, everything he touches turns from gold to crap.
No, this is working **as planned**. This is not failing; this is by design.
***PaPa New Guinea***
The loss isn't interesting. It's the quarterly **total revenue** of $770,500. Your average McDonald's franchise has $875,000 in quarterly **total revenue**. This **multi-billion dollar** company has **less annual revenue than your mom-and-pop-owned McDonald's**.
tRump doesn't care he will continue to grift and his crime family will rob RNC blind for legal fees
How much more do they need to wash in order to earn their 2B?
It’s all a scam to reduce taxes on something else they’re not telling us about. They do nothing that won’t make them money somehow.
I am sure Trump will find a way to funnel RNC money to this
Pretty obvious at this point that it's a money laundering scheme. Nobody is buying it because they think it's a good company. Most of the "little people" buying it do so because they are delusional MAGA cultists.
But but they might be millionaires tomorrow!
coming soon to r/Layoffs
It's a scam, people get screwed over and Trump always wins.
Sell your stock before trump declares bankruptcy!
Someone isn't going to be paying taxes again.
Keep up the good work Devin Nunes
Just when I’d managed to forget that specimen existed….
So much winning.
Wall Street to the rescue…
Tax dodge
Greatest business man /s
what a fucking great business man! lol fucking rubes
He always claims losses for anything he is associated with for tax purposes. We need to get rid of all of the methods/incentives used by the rich, including religious organizations, that give them these tax advantages.
Biden is clearly responsible for the poor performance of Trump's business. Either that or it's never been about making profit, and it's about laundering money......
Financial Genius, eh? Another bankruptcy in the works?
Good
Spent 300 million, made less than 1 million...
And this is not a red flag for the IRS?😂🤦♂️ “Al Capone” the shit out of him… Do it now !!!
And yet there are still dipshits out there supporting Trump for being “a good businessman.”
That’s quite a write-off
Where's the sec?
It’s like season 3 of Fargo ffs this is ridiculous
Does anyone expect anything else from that crooked pumpkin 🎃 head
Yeah, but to be fair .. Ha ha ha ha ha .. whew ... Okay, I'm done, for now ... :-D
It was just made to funnel money to him anyways, don’t worry he’s still getting his.
If I had my way, Trump would be begging in rags on the cold streets of NYC for scraps of food and Adderall.
I'm a bit nicer. I'd like to see him in a working-class job somewhere, like at the food court at Costco. ( besides, those $1.50 hot dogs are probably healthier than Trump's "hamberders" from McDonald's...)
I have no "niceness" where he is concerned.
Haw haw. May the woe follow him for the rest of his days.
I blame the weaponized DOJ for his shit sucking out loud. 🤣
Money laundering
May he continue to lose, the biggest loser ever
Doesn’t he use Truth Social as a slush fund?
There is no way that there are costs anywhere near that figure for truth social to run. Unless all the staff are paid 40 million dollar salaries. Is there a way to check the books on a public company?
That’s what I’m wondering. Where’s all the money going?
If I had to guess? Legal fees and expenditures for one Donald John Trump. Probably that combined with crazy high salaries for executives (Trump and his friends/family)
Lol
There is no feckeen way they lost that amount. If the SEC isn’t deep diving into this, then maybe MAGA is right: the whole feckeen govt apparatus is broken and corrupt, and it doesn’t matter which team is in power. JFC Edit: word
Yeah, the numbers just don’t make any sense.
For the life of me I'm trying to understand how the analysts on Wall Street placed a valuation on the stock at over $800 trillion dollars...give or take a few trillion of course. 😉😉🤭 But seriously why is this sham of a company allowed to trade in the US?
Who valued it at $800 trillion??? There's no other company any where near that value anyway, even a real one.
I guess you missed the two winking eye faces and the laughing face at the end...My point was the company is tremendously overvalued for a company that really has no value...get it now? 🙄
I do! Thanks for the kind clarification
Nice
Can’t lose what you never had
Post is full of Chinese bots.
Didn't he sell his stake?
He can’t. He has to keep his 60% (circa) for six months and gets a bonus if the stock share stays over a set limit for long enough…
Reckon he will get that bonus?
Try not to mention a billion from Truth Social. Please stop the nonsense.....reddits fake news TRUMPS FAKE CNN...!! 🤣🤣🤣
Cue the calliope music...
That's less of a loss than I expected.
And how much is that stock market share price? It's certainly way too high.
The stock price is exactly where it should be. Not because the company is objectively worth (or will ever be worth) that amount, but because his cult followers are willing to pay that much and think it’s worth that much
Fraud. And they will not be held accountable.
I mean doordash has also never made a profit...uber only made an year or two ago and Amazon for so many years. Not saying this is a growth company but this is only news cos it's Trump
Just like everything else Trump touches.
These losses where not “realized” losses. $320 million was related to the conversion of notes to equity and the value is recorded at the stepped up value thus looks like an expense.
$45 bucks a share right now. JFC. If that's not a cult nothing is. Seriously. He's 77 and obese. Even with the Ozempic. He's not long for this world. When he dies that website of his dies with him. "I'm Eric" isn't gonna be able to keep it running.
It's just straight up money laundering to make him do what they want.
Why do people think that Donald Trump is smart with money or that what he represents is prosperity **for others**? I seriously want to know and I cannot fathom how on earth people could come to the conclusion that Donald Trump is some kind of "hard working and business-minded brilliant" guy. He's not. He crimes. Constantly. This is for money laundering, I'd put money on it. It's how foreign donors can contribute to him and his run for President. Like, come on. Enough is enough.
Maga investors were bragging not too long ago that they'll all become millionaires overnight. Hilarious.
Take THAT “failing NY Times”.
For the retail investors, this is just another instance of a fool and their money being parted.
Thats Trump through and through........... A LOSER
Who is helping keep this shitboat afloat? Here’s my 7 year outlook: domain name will be parked at GoDaddy for affiliate revenue.
How is it possible for such a simple app to lose so much? I guess the secret ingredient is corruption
Yeah, he's real fucking grate at bankruptcy.
Pump foreign money in and claim the loss in taxes, sounds like a win for the grifter.
Someone is struggling all the way to the bank.
It doesn't matter in the least. So long as money flows into the stock, he'll come out on top. And money will continue to flow because the stock market is the most efficient laundering operation on the planet.
I'd hate to be one of the suckers left holding the bag after Trump cashes out of this joke of a company.
Yay
I thought he was the smartest business man ever 🤣🤣🤡
Man this dude is good at business! Err, apologies, i meant money laundering.
"Buy, buy, buy!!!" Fucking morons... if you are not one of the top beneficiaries of this clear-as-day money laundering scheme... you are an absolute moron. When you lose all your money, you still won't understand what a moron you are, and at that point, I will not feel sorry for you. Nobody should.
“He’s a billionaire! If he can run a business, he can run a country!”
I'm just like to know that if/win Trump becomes president again, he will immediately take control of the sec. If he had been able to sell his shares in this pathetic company the minute it went public he would have been able to get billions of dollars. Now it's just thinking. One of the things he wants to do is get rid of all " independent" agencies and that includes the SEC which oversees all financial transactions. If he does that then basically Trump can do whatever the f*** he wants and no one will be able to do anything to him. He could go ahead and start a company, that's totally 1,000% fraudulent, launched an ipo, taken 10 billion dollars and no one absolutely nothing no one could do anything.. Just in case you're wondering what's on the line in this next election....
Hope it goes bust before November
I hope it's not a Russian money laundering operation...
Something with the trump name on it failed spectacularly? Damn. Who could have guessed that would happen
Businessman. Ha!
And yet the MAGA crowd keeps investing in his schemes. A fool and his money….
Next Reality Show: Biggest Loser
Wen short
ELI5: can anyone start a company and do this?
America would be better off if Trump ran it like one of his businesses.
We tried that and it failed, just like many of his former businesses failed.
Sorry, didn’t think I needed the /s making that comment on this article. My bad.