So Trump is on the verge of gaining what could theoretically be a massive windfall from his social media company. But it will likely come too late to save him from the financial peril he’s facing now. Via Politico: Investors on Friday are expected to sign off on a deal to allow Trump’s new venture, which operates Truth Social, to be publicly traded on Wall Street, clearing the way for a possible multibillion-dollar payday for the former president. But Trump’s stake will be tied up for much of the year under a so-called lock-up agreement, a normal arrangement for such deals to ensure that insiders don’t bail as soon as a company goes public and push down the stock price. Trump could try to obtain a waiver from that rule, but even then he wouldn’t be able to sell more than a small fraction of his stake at any given time — up to 1 percent of the outstanding shares every quarter.

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BING NEWS:
  • Trump’s Social Media Company Just Keeps Losing Money
    Donald Trump’s Truth Social stock might be doing better these days, but the company is still struggling to make money. In the first three months of 2024, it pulled in just $770,000 in advertising ...
    05/21/2024 - 9:00 am | View Link
  • Trump’s Truth Social parent loses millions in first quarter; stock flops
    Trump Media & Technology Group, which runs former President Donald Trump’s Truth Social, on Monday reported a first-quarter operating loss of $12.1 million, way more than the $3.6 million of last year ...
    05/21/2024 - 6:23 am | View Link
  • Trump's social media account shares a campaign video with a headline about a 'unified Reich'
    A video posted to Donald Trump's account on his social media network included references to a “unified Reich” among hypothetical news headlines if he wins the election in November. The headline ...
    05/21/2024 - 2:37 am | View Link
  • After backlash, Trump pulls social media post with reference to 'unified Reich'
    Donald Trump has taken down a video posted to his Truth Social account that included reference to a "unified Reich" after President Joe Biden's campaign and others criticized the use of language often ...
    05/21/2024 - 2:27 am | View Link
  • Donald Trump’s Truth Social network loses £258m
    Trump Media and Technology (TMTG), the parent company of Mr Trump’s Twitter rival Truth Social, suffered the loss on revenues of just $770,500, a drop from $1.1m a year earlier. It attributed the fall ...
    05/20/2024 - 9:30 pm | View Link
  • More

 

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