Marketwatch is in a bit of a froth at the prospect of President Trump suddenly becoming much, much richer.
Away from the headlines, Donald Trump has just made a staggering sum of money, all of it driven by the publicity from his campaign for the White House. (A terribly, terribly cynical person might even suggest that is part of the point.)
How much? Forget these fines, which add up to less than $500 million. Trump is suddenly on track for a windfall of nearly $4 billion. And he has made most of it just in the five weeks since his big win in the Iowa caucuses put him in pole position for the Republican presidential nomination.
The windfall is from the forthcoming IPO of his social-media platform, called Truth Social, which he launched — amid massive derision from the mainstream media, I might add — in 2021 after he was kicked off Twitter following the events of Jan. 6, 2021.
. . .
Under terms of the deal, which has been in the pipeline since 2021, Trump personally is set to end up with 79 million shares in the company when the deal is complete, possibly as soon as this quarter ... That values Trump’s personal stake in the company at $3.8 billion — up $2.5 billion just since winning in Iowa over Ron DeSantis and Nikki Haley, et al. Who says it costs money to run for president?
There's more at the link.
I have no axe to grind in this matter. I'm not a Trump fanboi, and I have serious reservations about the prospects for another Trump term as President; but I accept that at present, he's the only meaningful candidate for the White House next year. I also accept that the legal actions against him are nothing less than lawfare, a deliberate and prima facie corrupt attempt to knock him out as a political candidate to the benefit of other candidates. They're so over-the-top it's ridiculous, and I hope that those responsible for them (and those who impose such ridiculous penalties) face legal consequences for their malfeasance.
It would be too delicious if the establishment hits President Trump with multi-hundreds-of-millions of dollars in fines and penalties, only to find that all the publicity and negativity they've stirred up produces billions of dollars in windfall income for him. Talk about the biter bit - not to mention the fines paid from the profits!
Pass the popcorn . . .
Peter
12 comments:
I hope Trump wins the Presidency and then gets revenge on states NY, GA, and the various Judiciary and DOJ/FBI/MSM.
They tell you who they fear by who they try to destroy.
If I hear Trump is buying hemp rope, I'm investing.
You can judge a man by the quality of his enemies.
On a personal level, I don't like Trump - he's crass, crude, and all too often causes unnecessary problems for himself by his lack of a filter.
But he's got the right enemies. And despite any flaws and the active opposition of the bureaucracy IMHO he did a far better overall job as President than any since Reagan.
I hope this story is correct. And that he overcomes the Democrat lawfare and other dirty tricks to take office again.
Taking a cue from Biden, hopefully his first official act should be to reverse every Presidential order his predicessor signed. And launch independent counsel investigations of Biden and all his appointees.
I own some shares in the company that Truth Social is merging with and my value is up. I hope that it continues.
As Anonymous said above, I am hopeful that Trump prevails and that he institutes some seriously needed systemic institutional reforms.
This ridiculous BS in New York is just the beginning. The left isn't through. They will never stop attacking Trump till he is flat broke, bankrupt and if possible dead.
They will continue their use of LawFare for as long as it takes to destroy him. The left NEVER gives up, quits or goes away. Just like Elon Musk...who they hate almost as much as they hate Trump.
Here's hoping that Marketwatch staff have conniptions. Just before they have mass layoffs.
"Butbutbut if Trump gets back in the White House, he'll be a ruthless dictator and take revenge on all who opposed him!!" the left shriek.
I sincerely hope that, if President Trump somehow overcomes the cheating and regains the Presidency, that he does not meet these expectations. I hope he exceeds them, beyond the reaches of their worst nightmares.
Sorry Trump sux, so does Unka Joe. Why can we not have a better choice?
Anon at 7:32 PM.
Like, who? Who has the power and money to run a successful third party/fourth party run? Because it would have to be basically self-funded. And states like CA and CO would find ways to not have any non-major party candidate that is viable.
I like Trump. Yes, he's not the best person personally. Yes, he tweets his fingers off sometimes stupidly. But for all his faults, he's been a far better president than anyone after Calvin Coolidge.
His real main faults of his term in office all center around trusting people in regards to his cabinet officials and advisors. Thus being bamboozled over Covid, even though he was for HCL and Ivermectin. Being bamboozled over Matis and Miley, who both should have been charged with treason and executed for their coup against Trump. And so forth.
Let's see. I don't like him but I liked energy independence, telling the CCP to go stuff itself over tariffs, opening a useful dialogue with the Norks, pushing through the Abraham Accords, threatening the head of the Taliban in Afghanistan in regards to American forces, lowering government regulations, moving the US embassy in Israel to Jerusalem (which Congress had voted decades before to do but never did,) and so much more.
Personally, my wife and I were far better off under Evil Unlikable Trump than we are now under Biden and whomever has their hands controlling him. Went to the grocery store today and spend $350ish dollars for what 4 years ago would have run me right around $175ish. Utilities are more expensive. Medications are more expensive. Everything is more expensive, which really screws us who are on fixed incomes.
And then there's the way the Biden administration is underreporting inflation, which sets the Cost of Living on all government pensions. What's the real inflation over the last 3 years in comparison to under Trump?
Most great men were personally not-nice people. George Washington, Benjamin Franklin, all of the founding fathers had rough edges or issues that would make modern people have the vapors. Sttephen Decatur was imperfect. So was Audey Murphy. Find a hero or 'great man' that didn't have issues.
At least Trump actually loves America and wants to do his best for it, rather than profiting off of the collapse of it. He lost money and has lost money during and after his presidency because of what he did. Find another president after Reagan who didn't come out richer after stepping down and continued to make buckets and bushels of money. Seriously, how can you become a multi-millionaire on $400,000 a year with $50,000 expense account a year, while paying for your clothing, food, entertainment expenses, non-presidential trips and such?
>and I have serious reservations about the prospects for another Trump term as President;
You should explain this.
I'm really tired of people who cast shade just to try to make themselves look good.
>You see, I'm fair-minded. I'm very cool.
Anonymous Anonymous said...
Sorry Trump sux, so does Unka Joe. Why can we not have a better choice?
February 21, 2024 at 7:23 PM
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Because the powers that really call the shots don't care what the voters want. Or care about the voters. They are busy replacing you with the flotsam of the third wold.
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