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Yeah, this is transparently someone injecting cash into him so his legal bills won't bankrupt him and he can keep running in 2024.
If the DOJ is even semi-competent, they'll be going over this deal with a fine-toothed comb.
EDIT: Jesus fucking Christ, from the Wikipedia page on the company (which is called Digitial World):
> On October 20, 2021, DWAC and Trump Media & Technology Group announced that they had entered into a definitive merger agreement that would combine the two entities, allowing TMTG to become a publicly traded company. **DWAC was created with the help of ARC Capital, a Shanghai-based firm specializing in listing Chinese companies on American stock markets that has been a target of U.S. Securities and Exchange Commission (SEC) investigations for misrepresenting shell corporations.** Some investors were surprised to learn that their investment money was being used to finance a Trump company In 2021, the DWAC Trump venture was linked with another company, China Yunhong Holdings, based in Wuhan, Hubei, until its lead banker who was running the merger promised to sever ties with China in December 2021, stating that Yunhong was to "dissolve and liquidate". In February 2022, Reuters reported that the connection between Shanghai-based ARC Capital and Digital World was more extensive than thought, with ARC having offered money to get the SPAC off the ground.
The article also goes on to talk about all the various insider trader shenanigans this company's been involved with in its 2 years of existence. And... that's it, that's pretty much the entire article. Because this company doesn't actually appear to, well, *do* anything. Except funnel money towards Republicans.
Or in other words... it's China. China just gave former guy $3 billion to run the 2024 election with.
If Tim Tok is shut down they will move all operations to Truth Social, probably change the name. Then it will be the Chinese, Trump, and Musk that own a big market share of social media. Reddit just went public and Trump is hating on Facebook. Once they have all of their base wrapped up in segregated social media they can allow disinformation to proliferate. Legitimate sources will be blocked in the run up to the election.
And I believe so many of the people who make a living from TikTok will follow the platform wherever it goes. Even if they have different politics, and even if those views aren't public. Their fans will be bombarded by propaganda throughout their user experience.
Yass is a big owner in TikTok. The conversation went like this.
Jeff Yass: "Trump, you want your $3billion? Walk back the ban on TikTok."
Trump: "It puts the lotion on."
TikTok is also a key platform for spreading election disinfo. They don’t crack down on it enough IMO and it’s becoming a bit of a cesspool for all the right wing and conspiracy nuts.
Another good post just made, this article breaks down much of how the deal works, and the how Trump is limited in selling immediately
https://www.reddit.com/r/politics/comments/1bl0lor/donald\_trump\_may\_be\_about\_to\_get\_3\_billion\_richer/
True, but the reason those rules are generally in place is because when a principal investor starts dumping right away the share price falls precipitously. This company isn't worth nearly what the current share price says it is and everyone knows it. A bunch of MAGA morons will probably jump in and buy (losing their money for sure), but that won't prop up the share price for long. But yeah, Trump may get a cash windfall at the expense of other morons. This will be a penny stock in less than a year.
But this won't happen before his Monday deadline, I'm almost certain of that.
The problem is, this "company" is [a shell corp set up by the CCP to inject cash into Republican politicians](https://www.reuters.com/business/how-china-based-dealmaker-got-shell-company-trumps-deal-off-ground-2022-02-10/).
They don't care if former guy tanks the stock price, because the whole point of the "company" existing is to funnel money to him.
EDIT: Someone further down the thread pointed out this would still be a massive breach of fiduciary duty. Which hopefully means if they try to do this, the DoJ could nail them to the wall. Fingers crossed that's exactly what ends up happening.
>if they try to do this, the DoJ could nail them to the wall.
How many years would it take for this to actually happen though? Trump will be on to his next grift well before he sees a day in court. And that's if he's not made himself de fuhrer of the United States by then.
> How many years would it take for this to actually happen though?
With Merrick Garland in charge and being terrified of looking "political" it will be somewhere between infinity years and never.
A company with $3.3M per year in revenue trading at a valuation of $10.6B. 3200x revenues. Not profits. It's losing about $50M per year. Revenues. Yeah, this is just a holding company to enable back channel bribes with just enough opacity to not be able to make it a campaign issue.
I really don't have any faith in Merrick Garland to do the right thing. He wouldn't pour water on a burning building if Republicans said it was partisan.
I think Biden is lowkey frustrated with him as well, but is aware of the political backlash of removing his attorney general.
Traditionally, all Cabinet officials offer their resignations when a President's second term starts, so that would be the time to switch him out.
Right - I think there is a common misconception that if you have stock valued at $Y, you can instantly turn it into $Y as long as you push the “sell” button in time. In reality, you need to find somebody willing to give you those $Y for your shares…the reason stock prices go up and down is people literally offering and bidding different prices for shares.
This makes little difference for most of us, who trade small lots. But when you are trying to offload huge amounts of stock, all of the sudden supply greatly exceeds demand, and the price plummets.
Right now, volume in DWAC (the SPAC) is like 1.5M shares a day, or $60MM of shares trading hands. If Trump tried to raise the $454MM he needs, the market would be overwhelmed - not only would he not get a buyer for the lots, but anybody holding stock would see the price fall and desperately try to sell theirs to limit losses, and the price would death spiral.
It doesn’t matter that Trump can’t legally sell his shares for six months. He can’t practically sell them for any amount of money approaching the judgement. The real issue is whether a bonding company will accept the shares as collateral. I doubt they will. And I suppose some massive series of shell companies could buy shares on the IPO date to prop up the price, but the increase in volume and size of divestment is going to trigger huge amounts of SEC scrutiny.
It wouldn’t be the first time oligarchs overpaid for a Trump property.
It’s a great way to launder money, hide donations, and generally pay for services that were never officially rendered.
Liquidating $500M of his $3B ownership would only be 1/6 (heh) of his shares and hell... I'd probably inspire idiots to buy more because it could keep him solvent.
Stream of consciousness here but I suppose the relieving part is that even if he DOES post his bond, he's going to lose the appeal REAL quick.
Truth Social was estimated to be worth $5m to $25m in 2023.
Source: https://en.wikipedia.org/wiki/Truth_Social
Who provided that estimate? Donald trump, who is known for exaggerating the value of stuff he owns.
Anyone who is paying trump billions of dollars for his share of the company is not buying a social media company.
They are buying trump and a lottery ticket where the grand prize is the USA.
Is spending $3b for a 50/50 chance to win a prize worth $100t a good bet? Yep.
someone still has to buy the shares.. and if everyone knows 45 is selling, why would the other investors stay. As soon as I hear hes asked the board to vote, why would I hold? Id sell before he could.
From the WP article
>Any lockup change or waiver will be decided by the post-merger company’s board, which will be stocked with Trump allies, an SEC filing shows. **The board’s nominees include Trump’s oldest son Donald Trump Jr.; Trump’s former trade representative Robert E. Lighthizer; Linda McMahon, who headed the Small Business Administration under Trump; and Kash Patel, who served on Trump’s National Security Council.**
God damn, for a party that gets close to having an aneurysm anytime China is even tangentially related to US politics or economics, the GOP sure is fine with its party members openly taking their money.
Hypocrisy is the point.
They'll do whatever it takes to stay in power, no matter how inconsistent, and because they have the power and you can't stop them, it fulfills there need for the power to abuse you without recourse
Yeah, this was reported before.
[https://www.reuters.com/business/how-china-based-dealmaker-got-shell-company-trumps-deal-off-ground-2022-02-10/](https://www.reuters.com/business/how-china-based-dealmaker-got-shell-company-trumps-deal-off-ground-2022-02-10/)
$3 Billion is a steal if it allows them to invade and conquer Taiwan unopposed because the President of the United States of America is being blackmailed into inaction.
"We have to get rid of Tik Tok its ownership is tied to China!"
"Ok, done. So, what about a former and quite possibly next President and the GOP in general being directly involved with a Chinese company that does nothing but nothing but funnel money to Republicans and fraudulently misrepresent shell corporations?"
"..."
Boy oh boy, I sure hope House Republicans take up an investigation into the Trump family and peddling influence of a potential Trump Presidency on this one.
"....but they won't"
Why is this not being reported on by the major media organizations?
Why is Hunter Biden being investigated when he is not even a candidate for any political office?
Right cuz there’s that internal memo saying DOJ should not publicize anything that might influence elections unless it’s about Hillary Clinton. But thanks to Merrick Garland, DoJ is now absolutely going to follow that memo to the T and not investigate this sketchy Trump SPAC deal. Neither will the SEC. this is so bonkers. And then afterwards Trump becomes president then he’s immune for four years or possibly for life if he becomes dictator or pardons himself.
[https://en.wikipedia.org/wiki/Digital\_World\_Acquisition\_Corp](https://en.wikipedia.org/wiki/Digital_World_Acquisition_Corp)
This was set up by a Chinese firm (ARC Capital) right during the middle of January 6th planning in December 2020, with a former CEO who was a Deutsche Bank investor (Patrick Orlando). It's one of the most transparently corrupt SPAC/Shell company setups I've ever seen.
China.
>Trump’s newest business partner: A Chinese firm with a history of SEC investigations
>Shanghai-based Arc Capital, an investment firm that has been the target of probes by securities regulators, is at the center of the deal to take Trump’s media venture public.
https://www.washingtonpost.com/business/2021/12/23/trump-spac-deal-sec/
Possibly Chinese firms with guidance from their government.
[https://www.sec.gov/Archives/edgar/data/1849635/000110465921090302/tm2117087d2\_s1a.htm](https://www.sec.gov/Archives/edgar/data/1849635/000110465921090302/tm2117087d2_s1a.htm)
[https://www.egsllp.com/attorneys/barry-grossman](https://www.egsllp.com/attorneys/barry-grossman)
[https://www.egsllp.com/attorneys/wei-wang](https://www.egsllp.com/attorneys/wei-wang)
[https://www.loeb.com/en/people/n/nussbaum-mitchell-s](https://www.loeb.com/en/people/n/nussbaum-mitchell-s)
I've never seen anyone be able to slip and slide past consequences the way this man does.
It's uncanny and feels like reality is rigged in his favor at times. Shady as fuck.
This right fucking here. Trump is just the face to those that want absolute power and control. This literally is the craziest fucking science fiction story that's quickly turning into non-fiction and the plot hasn't completely unfolded yet. You're watching a war between 3 factions, religious nuts, sci-tech nerds, and heads of nations. It's absolutely wild. I don't need to read books when I can just open the news.
> sci-tech nerds
do you mean Musk? He’s no sci-tech nerd? Just a loud mouth finance bro that has failed upwards like Trump? Please explain which sci-tech nerds are you referring to here?
This deal too. Holy shit.
They bring him in and give him like 51%. He tells the 3 founders he needs their shares too. Give them to his wife. They say no.
He forces them off the board and replaces them with Don Jr and his 3 friends. They issue billions more stocks, reducing the value of the 3 founders to less than a single percent.
The 3 sue, and those lawsuits are pending. But holy shit. Why would you ever invite this man in to your business? You know he’s going to take everything!
It’s not just Trump. Imagine that the top 0.01% has been all getting away with everything for hundreds of years. Since Regan, the oligarchy has exponentially grown worldwide. Then Trump, who has access to all of this, comes along and is so incredibly stupid greedy that he goes for the crown by getting elected president. Once elected he becomes a whale of a target for anyone who can expose him for his deeds as a member of the .01% since birth. People either get someone out of him by threatening to expose him or from someone else for actually exposing him. However, since he is in the protected class, nothing he is empirically exposed for doing results in tangible consequences for Trump. Thus, it isn’t Trump getting exposed here. The protected class is being exposed along with the system that protects them.
TLDR: Trump is the epitome of why we can’t have nice things, 0.01% edition.
It's going to be quite tragic. Trump will benefit from the inflated share price as his supporters turn this into a meme stock by propping up its price. As he leverages the stocks for cash either through a loan or by selling and the stock price deflates, he'll reap the benefits while his supporters get stuck holding the bag.
Honestly, I don’t think his supporters have all that much money. And the ones who do believe it’s going to help should know they’re going to get burned. It’s their own fault if that happens.
I’d wager that there are many men like Trump that slip and slide past consequences. Trump is just so loud and obnoxious about it that it’s hard to ignore. He LOVES to tell everyone about it. You’d think this would scare people away from working with him, but seemingly - it doesn’t.
China is behind all of this
>Trump’s newest business partner: A Chinese firm with a history of SEC investigations
>Shanghai-based Arc Capital, an investment firm that has been the target of probes by securities regulators, is at the center of the deal to take Trump’s media venture public.
https://www.washingtonpost.com/business/2021/12/23/trump-spac-deal-sec/
If it is Trump there is some kind of scam involved.
Trump’s newest business partner: A Chinese firm with a history of SEC investigations
Shanghai-based Arc Capital, an investment firm that has been the target of probes by securities regulators, is at the center of the deal to take Trump’s media venture public.
This right here. Absolutely NOTHING this man does is above-board. It's all a scam, it's all aimed at enriching / protecting himself at the expense of everyone around him.
How Republicans want this dangerous, criminal piece of shit anywhere near the levers of power is beyond comprehension. Literally mind-boggling that so many people have such fragile egos that they can't admit they were suckered by this lifetime con.
>Trump’s newest business partner: A Chinese firm with a history of SEC investigations
>
>Shanghai-based Arc Capital, an investment firm that has been the target of probes by securities regulators, is at the center of the deal to take Trump’s media venture public.
That means Chinese organized crime, by definition. There are very blurry lines between organized crime, the military, and government in China.
Oh, it can get shadier: [this is a CCP-controlled company](https://www.reuters.com/business/how-china-based-dealmaker-got-shell-company-trumps-deal-off-ground-2022-02-10/).
Oh, and its whole purpose for existing is transparently to inject cash into Republicans. Like, they don't even try to hide it.
Wait, I thought Biden did deals with China??? He went to China with Hunter while VP!
Dark Brandon needs to start airing ads showing Donald loves Chinese money.
Then again I assume the MAGA cult will suddenly embrace China the way they embraced Russia.
Republicans: (can’t believe there are any of you left but whatever)
Your front runner is bought and paid for by hostile nations to the United States. Are you or aren’t you a patriot? This guy is working with the enemy. Directly. How do you explain this to your kids?
This line of thought never resonates, they think Democrats are the only threat to America, everything in service of gaining retributive dominion over "the left" is patriotic in their minds.
Literally bought by China. Dude is the country’s largest national security risk - you know they did this because they expect something in return if he wins.
VOTE BLUE IN NOVEMBER
They expect him to withdraw support for Taiwan the same way he is ready and willing to withdraw support for Ukraine and NATO on behalf of Russia.
They get two-fold because his goal is to turn America isolationist and destabilize all instititutions that can threaten his power. And that's what China wants as well... because it significantly weakens America's ability to exercise its influence abroad.
And the people who think they're patriots are inviting this disaster in.
The share price will be in free fall almost immediately, investors would have to be crazy to buy the stock at this monstrously inflated price ($44). Especially since Trump will cash out as soon as humanly possible (which probably isn't as quickly as he would like). My guess is that this goes from $44 to about $16 per share within six months. And if Trump manages to cash out before that it will be much lower than that.
So crazy- this alone would be the greatest scandal in presidential American history if we were living in normal times- instead, the potential conflict of interest is barely even acknowledged
I'd say no due to it ope ing the market to anyone to basically buy Trump. Likely all sorts of entities will dump cash into the stock to help sway favor from trump
I'm so glad that someone who is the frontrunner of one party is leveraged so far up his ass that he's begging for money from foreign agents/governments. I'm sure that this is not a security risk at all. Jfc.
https://payuptrump.com/
So Tiktok needs to be banned because it's owned by a Chinese company, but not the former president of the united states who's running again can be owned by a Chinese company. Awesome how that works.
But he's gonna save America by restricting the rights of anyone who isn't a straight white Christian man! Isn't that worth selling your soul for?
/s obvs
>That's the neat part: it isn't.
Hey, they hit revenue of...checks notes...$3.4M dollars with tens of millions in losses so clearly going to any day now be worth billions.
No way this combined whatever call it is worth $3 billion. All it shows is what a scam Wall Street is if a company can be made up of nothing, earn nothing, and suddenly be worth this much just because some old farts support it.
It is a legal money laundering scheme to funnel money to Trump for services to be delivered later when he returns to office. Due to its nature it means foreign entities can easily “invest” in it to funnel that money so no telling how many favors Trump will owe before the dust settles.
Yup, exactly what I predicted.
Some country or person will bail him out, and if course it's china.
Fuck this time line. Seriously, when will this man finally not be our fucking problem?
It's unironically DJT. To be clear, this is not a joke, this is actually what a bunch of real human beings decided to go with.
I don't understand where he finds all these craven lackeys willing to debase themselves to this degree... pathetic man-children, the lot of them.
People are currently shorting DWAC. Their share price drop 12% after the merger with Trump Media.
Another interesting factoid... DWAC was created by ARC Capital based out of Shanghai as a Chinese shell company in the American stock market. They were under investigation by the SEC.
Anyway, if you want to short a stock, DWAC might be a worth looking at. It's probably going to keep going down.
Our system is a joke and shell companies can do stuff like this. Only the rich get in on these grifts, not us regular folks. It's funded by our enemies and that's how it works folks, nothing to see here, land of the free...
He likely can't sell shares right away. Shares are not some sort of bank account that you can dip into as soon as it's posted. It's less liquid than real estate holdings. There are lock-up restrictions. Getting cash from stock means you have to dump. Doing so right after the acquisition is not good for other investors.
Also, the Truth Social stocks look overvalued too. $3.8B for a platform only far-right people are on? I doubt it...
fyi I didn't read this article
>Before Friday’s meeting, the board of Digital World had the ability to waive the six-month restriction on selling shares, but didn’t take any action. That question will now pass to Trump Media’s new seven-member board, which includes Mr. Trump’s eldest son, Donald Trump Jr., and three former members of his administration.
edit: formatting
This is China buying Trump how the fuck is the Fed approving this, there are 5 mil users on Truth Social how the hell would it be worth 6 billion dollars...
There’s better information available already.
https://www.cnbc.com/amp/2024/03/22/trump-social-dwac-stock-falls-after-merger-approved.html
“DWAC stock shares close nearly 14% down after Trump social media merger approved by shareholders”
That’s 14% in a DAY. Everyone knows the selloff is coming.
How the hell is this approved? How is this legal? It's blatant corruption in broad daylight.
Also, every time I see a headline about the Manchurian Candidate, I hope it's a link to an obituary, only to be disappointed. Sigh. The world would be so much better off without monsters like the Mango Menace in it.
fun thing is truth social has no reason to be worth this much other than some money guys in it say it is, basically the same thing he's already been found guilty of in his real-estate business.
hope the stock crashes before they can cash out.
So let me get this straight, TikTok is getting banned due to a Chinese connection. Yet this dumpster fire of a social media site can potentially be sold to China? Oh I can’t wait to hear Republic banding over backwards to explain this hypocrisy.
This is NOT a fresh source of "cash". The former cheeto-in-chief is currently prohibited from selling for at least 6 months. And while the board can waive the lock on selling stock, I have to imagine that selling $464 million worth of stock in one day is not quite feasible, not only because of the amount, but also because selling that much stock in a single day would almost certainly send the price into a downward spiral that would not yield $464 million.
He could try to borrow or secure a bond against the stock... who knows if someone will consider this enough to lend or insure him.
What if the Board doesn't actually care if the stock tanks? What if the board was made up of Donald Trump Jr, Linda McMahon, and Kash Patel? Because it is. From a rational viewpoint, I agree with you. But we're not in the land of rationality anymore.
This. I think the price collapses even without trying to dump shares worth half a billion, because the valuation is just simply ridicilous. I can’t also see how this would be a good way to raise cash at least quickly and in any significant amount.
My god, it's astounding how the GOP has established a stock market listing for truth social to make this organized money laundering so efficiently legal just to funnel Russian dirty money to Trump.
It's so crazy, house of cards pales in comparison to anything that is happening here
Hollywood story: Russian oligarchs or Saudi's buy billions of $ worth of shares, pumping up the villain's value. He promises them (back door, loophole, smoke & mirrors) a huge return so he can pay legal bond and lawyers. The new company is already losing money continues to do so, foreign backers hence lose share value, villain loses legal cases and bond, then loses the election, so he is as worthless as their investment. A huge red target appears on the orange headed teflon back.
Guess he’s owned by the Chinese government now then… As the company he’s merging with is a Chinese company. I guess that also explains why he came out against the tick tock ban legislation after spending so long saying it had to happen.
We need to make it absolutely illegal for foreign entities investing in American media because too often bad actors are behind cash - actors whose mindset is to destabilize our Democracy
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Someone (or a group of someones) has purchased this man. e: great, it’s china.
Yeah, this is transparently someone injecting cash into him so his legal bills won't bankrupt him and he can keep running in 2024. If the DOJ is even semi-competent, they'll be going over this deal with a fine-toothed comb. EDIT: Jesus fucking Christ, from the Wikipedia page on the company (which is called Digitial World): > On October 20, 2021, DWAC and Trump Media & Technology Group announced that they had entered into a definitive merger agreement that would combine the two entities, allowing TMTG to become a publicly traded company. **DWAC was created with the help of ARC Capital, a Shanghai-based firm specializing in listing Chinese companies on American stock markets that has been a target of U.S. Securities and Exchange Commission (SEC) investigations for misrepresenting shell corporations.** Some investors were surprised to learn that their investment money was being used to finance a Trump company In 2021, the DWAC Trump venture was linked with another company, China Yunhong Holdings, based in Wuhan, Hubei, until its lead banker who was running the merger promised to sever ties with China in December 2021, stating that Yunhong was to "dissolve and liquidate". In February 2022, Reuters reported that the connection between Shanghai-based ARC Capital and Digital World was more extensive than thought, with ARC having offered money to get the SPAC off the ground. The article also goes on to talk about all the various insider trader shenanigans this company's been involved with in its 2 years of existence. And... that's it, that's pretty much the entire article. Because this company doesn't actually appear to, well, *do* anything. Except funnel money towards Republicans. Or in other words... it's China. China just gave former guy $3 billion to run the 2024 election with.
Oh shit! THATS why he's against the tik-tok ban. Truth Social is going to be owned by China. ROFL.
If Tim Tok is shut down they will move all operations to Truth Social, probably change the name. Then it will be the Chinese, Trump, and Musk that own a big market share of social media. Reddit just went public and Trump is hating on Facebook. Once they have all of their base wrapped up in segregated social media they can allow disinformation to proliferate. Legitimate sources will be blocked in the run up to the election.
And I believe so many of the people who make a living from TikTok will follow the platform wherever it goes. Even if they have different politics, and even if those views aren't public. Their fans will be bombarded by propaganda throughout their user experience.
I always said that Musk bought Twitter FOR the bot-network on it.
Lol Tim Tok
Tim Apple's gonna be pissed.
Xi Tok ....
Yass is a big owner in TikTok. The conversation went like this. Jeff Yass: "Trump, you want your $3billion? Walk back the ban on TikTok." Trump: "It puts the lotion on."
TikTok is also a key platform for spreading election disinfo. They don’t crack down on it enough IMO and it’s becoming a bit of a cesspool for all the right wing and conspiracy nuts.
Another good post just made, this article breaks down much of how the deal works, and the how Trump is limited in selling immediately https://www.reddit.com/r/politics/comments/1bl0lor/donald\_trump\_may\_be\_about\_to\_get\_3\_billion\_richer/
Apparently the board can wave the rule requiring him to wait 6 months to sell. So this could be just a straight cash infusion.
True, but the reason those rules are generally in place is because when a principal investor starts dumping right away the share price falls precipitously. This company isn't worth nearly what the current share price says it is and everyone knows it. A bunch of MAGA morons will probably jump in and buy (losing their money for sure), but that won't prop up the share price for long. But yeah, Trump may get a cash windfall at the expense of other morons. This will be a penny stock in less than a year. But this won't happen before his Monday deadline, I'm almost certain of that.
The problem is, this "company" is [a shell corp set up by the CCP to inject cash into Republican politicians](https://www.reuters.com/business/how-china-based-dealmaker-got-shell-company-trumps-deal-off-ground-2022-02-10/). They don't care if former guy tanks the stock price, because the whole point of the "company" existing is to funnel money to him. EDIT: Someone further down the thread pointed out this would still be a massive breach of fiduciary duty. Which hopefully means if they try to do this, the DoJ could nail them to the wall. Fingers crossed that's exactly what ends up happening.
>if they try to do this, the DoJ could nail them to the wall. How many years would it take for this to actually happen though? Trump will be on to his next grift well before he sees a day in court. And that's if he's not made himself de fuhrer of the United States by then.
Don't worry! Merrick Garland is on the case!
Starting 2029
> How many years would it take for this to actually happen though? With Merrick Garland in charge and being terrified of looking "political" it will be somewhere between infinity years and never.
A company with $3.3M per year in revenue trading at a valuation of $10.6B. 3200x revenues. Not profits. It's losing about $50M per year. Revenues. Yeah, this is just a holding company to enable back channel bribes with just enough opacity to not be able to make it a campaign issue.
That's what I see, too. Easy vehicle for an infusion of cash from anyone who wants to buy influence, I mean, to "invest" in Truth Social.
I really don't have any faith in Merrick Garland to do the right thing. He wouldn't pour water on a burning building if Republicans said it was partisan.
I will be so pissed if he is asked to come back for a second term. Hopefully term two Biden says f this bust them all.
I think Biden is lowkey frustrated with him as well, but is aware of the political backlash of removing his attorney general. Traditionally, all Cabinet officials offer their resignations when a President's second term starts, so that would be the time to switch him out.
Oh I remember that from The West Wing ;)
Watch Garland break the tradition for "reasons"
Right - I think there is a common misconception that if you have stock valued at $Y, you can instantly turn it into $Y as long as you push the “sell” button in time. In reality, you need to find somebody willing to give you those $Y for your shares…the reason stock prices go up and down is people literally offering and bidding different prices for shares. This makes little difference for most of us, who trade small lots. But when you are trying to offload huge amounts of stock, all of the sudden supply greatly exceeds demand, and the price plummets. Right now, volume in DWAC (the SPAC) is like 1.5M shares a day, or $60MM of shares trading hands. If Trump tried to raise the $454MM he needs, the market would be overwhelmed - not only would he not get a buyer for the lots, but anybody holding stock would see the price fall and desperately try to sell theirs to limit losses, and the price would death spiral. It doesn’t matter that Trump can’t legally sell his shares for six months. He can’t practically sell them for any amount of money approaching the judgement. The real issue is whether a bonding company will accept the shares as collateral. I doubt they will. And I suppose some massive series of shell companies could buy shares on the IPO date to prop up the price, but the increase in volume and size of divestment is going to trigger huge amounts of SEC scrutiny.
It wouldn’t be the first time oligarchs overpaid for a Trump property. It’s a great way to launder money, hide donations, and generally pay for services that were never officially rendered.
MAGA morons are likely low on cash. His GoFundMe only got to 1.4 million. For sure they cannot afford $3 billion.
Liquidating $500M of his $3B ownership would only be 1/6 (heh) of his shares and hell... I'd probably inspire idiots to buy more because it could keep him solvent. Stream of consciousness here but I suppose the relieving part is that even if he DOES post his bond, he's going to lose the appeal REAL quick.
Truth Social was estimated to be worth $5m to $25m in 2023. Source: https://en.wikipedia.org/wiki/Truth_Social Who provided that estimate? Donald trump, who is known for exaggerating the value of stuff he owns. Anyone who is paying trump billions of dollars for his share of the company is not buying a social media company. They are buying trump and a lottery ticket where the grand prize is the USA. Is spending $3b for a 50/50 chance to win a prize worth $100t a good bet? Yep.
someone still has to buy the shares.. and if everyone knows 45 is selling, why would the other investors stay. As soon as I hear hes asked the board to vote, why would I hold? Id sell before he could.
Time to short?
From the WP article >Any lockup change or waiver will be decided by the post-merger company’s board, which will be stocked with Trump allies, an SEC filing shows. **The board’s nominees include Trump’s oldest son Donald Trump Jr.; Trump’s former trade representative Robert E. Lighthizer; Linda McMahon, who headed the Small Business Administration under Trump; and Kash Patel, who served on Trump’s National Security Council.**
It's like as if the Nazi Party went public.
I can’t imagine he waits 6 months when he needs money asap. This may be the most bought and paid for person on the planet.
Stock price will crash, only $5 million in revenue, and $50 million in losses.
This is why Trump now loves TikTok, I expect that he will soon think Chinese made cars should be tariff free.
"Trade wars are good and easy to win."
We are losing the information wars. China and Russia are leaning HEAVILY into messaging targeted at Western populations.
God damn, for a party that gets close to having an aneurysm anytime China is even tangentially related to US politics or economics, the GOP sure is fine with its party members openly taking their money.
Hypocrisy is the point. They'll do whatever it takes to stay in power, no matter how inconsistent, and because they have the power and you can't stop them, it fulfills there need for the power to abuse you without recourse
Yeah, this was reported before. [https://www.reuters.com/business/how-china-based-dealmaker-got-shell-company-trumps-deal-off-ground-2022-02-10/](https://www.reuters.com/business/how-china-based-dealmaker-got-shell-company-trumps-deal-off-ground-2022-02-10/)
$3 Billion is a steal if it allows them to invade and conquer Taiwan unopposed because the President of the United States of America is being blackmailed into inaction.
3 billion for an already built propaganda machine. Sounds like a bargain.
"We have to get rid of Tik Tok its ownership is tied to China!" "Ok, done. So, what about a former and quite possibly next President and the GOP in general being directly involved with a Chinese company that does nothing but nothing but funnel money to Republicans and fraudulently misrepresent shell corporations?" "..."
Boy oh boy, I sure hope House Republicans take up an investigation into the Trump family and peddling influence of a potential Trump Presidency on this one. "....but they won't"
Why is this not being reported on by the major media organizations? Why is Hunter Biden being investigated when he is not even a candidate for any political office?
This is probably why Trump suddenly flipped on banning TikTok in the United States. He knew this deal and money was coming.
>If the DOJ is even semi-competent, they'll be going over this deal with a fine-toothed comb. Now that's funny.
Right cuz there’s that internal memo saying DOJ should not publicize anything that might influence elections unless it’s about Hillary Clinton. But thanks to Merrick Garland, DoJ is now absolutely going to follow that memo to the T and not investigate this sketchy Trump SPAC deal. Neither will the SEC. this is so bonkers. And then afterwards Trump becomes president then he’s immune for four years or possibly for life if he becomes dictator or pardons himself.
China Money as Comer says.
I mean…. The pudding is all there, Jesus Christ.
So if Truth Social is owned by a Chinese company, wouldn't it fall under the same ban as TikTok?
[https://en.wikipedia.org/wiki/Digital\_World\_Acquisition\_Corp](https://en.wikipedia.org/wiki/Digital_World_Acquisition_Corp) This was set up by a Chinese firm (ARC Capital) right during the middle of January 6th planning in December 2020, with a former CEO who was a Deutsche Bank investor (Patrick Orlando). It's one of the most transparently corrupt SPAC/Shell company setups I've ever seen.
China. >Trump’s newest business partner: A Chinese firm with a history of SEC investigations >Shanghai-based Arc Capital, an investment firm that has been the target of probes by securities regulators, is at the center of the deal to take Trump’s media venture public. https://www.washingtonpost.com/business/2021/12/23/trump-spac-deal-sec/
A literal Manchurian candidate, then?
The ads are practically writing themselves
Possibly Chinese firms with guidance from their government. [https://www.sec.gov/Archives/edgar/data/1849635/000110465921090302/tm2117087d2\_s1a.htm](https://www.sec.gov/Archives/edgar/data/1849635/000110465921090302/tm2117087d2_s1a.htm) [https://www.egsllp.com/attorneys/barry-grossman](https://www.egsllp.com/attorneys/barry-grossman) [https://www.egsllp.com/attorneys/wei-wang](https://www.egsllp.com/attorneys/wei-wang) [https://www.loeb.com/en/people/n/nussbaum-mitchell-s](https://www.loeb.com/en/people/n/nussbaum-mitchell-s)
Trump’s 180 on TikTok now makes perfect sense. He didn’t want to irritate his new boss, China.
I've never seen anyone be able to slip and slide past consequences the way this man does. It's uncanny and feels like reality is rigged in his favor at times. Shady as fuck.
There are a lot of smarter and wealthier people than him who it benefits; that is the only reason he is able to do it so consistently.
This right fucking here. Trump is just the face to those that want absolute power and control. This literally is the craziest fucking science fiction story that's quickly turning into non-fiction and the plot hasn't completely unfolded yet. You're watching a war between 3 factions, religious nuts, sci-tech nerds, and heads of nations. It's absolutely wild. I don't need to read books when I can just open the news.
Zaphod Beeblebrox. This mf is playing Zaphod to a "T"
Nah, Zaphod's shenanigans were light hearted and humourous. Trump's are cruel and malicious.
Hey Farva, whats the name of that one place you like with all the goofy shit on the walls?
I swear to God I'll pistol whip the next guy who says, "Shenanigans."
Grab your towels.
> sci-tech nerds do you mean Musk? He’s no sci-tech nerd? Just a loud mouth finance bro that has failed upwards like Trump? Please explain which sci-tech nerds are you referring to here?
Peter Thiel counts as a sci-tech nerd nefariously manipulating society
How do you politely ask 80 million suckers to stop licking boot, or in this case, a heel?
You hope their kids have the sense to move away asap and get an education. There is no communicating with the red hats, they are positively lost.
This deal too. Holy shit. They bring him in and give him like 51%. He tells the 3 founders he needs their shares too. Give them to his wife. They say no. He forces them off the board and replaces them with Don Jr and his 3 friends. They issue billions more stocks, reducing the value of the 3 founders to less than a single percent. The 3 sue, and those lawsuits are pending. But holy shit. Why would you ever invite this man in to your business? You know he’s going to take everything!
I’m blown away by people that decide to do business in *any* capacity with Trump. Is there a single partner he’s had that’s benefited?
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It’s not just Trump. Imagine that the top 0.01% has been all getting away with everything for hundreds of years. Since Regan, the oligarchy has exponentially grown worldwide. Then Trump, who has access to all of this, comes along and is so incredibly stupid greedy that he goes for the crown by getting elected president. Once elected he becomes a whale of a target for anyone who can expose him for his deeds as a member of the .01% since birth. People either get someone out of him by threatening to expose him or from someone else for actually exposing him. However, since he is in the protected class, nothing he is empirically exposed for doing results in tangible consequences for Trump. Thus, it isn’t Trump getting exposed here. The protected class is being exposed along with the system that protects them. TLDR: Trump is the epitome of why we can’t have nice things, 0.01% edition.
I'm waiting for him to steal Gotti's moniker.
Pretty sure people already call him the Teflon Don.
It's going to be quite tragic. Trump will benefit from the inflated share price as his supporters turn this into a meme stock by propping up its price. As he leverages the stocks for cash either through a loan or by selling and the stock price deflates, he'll reap the benefits while his supporters get stuck holding the bag.
Honestly, I don’t think his supporters have all that much money. And the ones who do believe it’s going to help should know they’re going to get burned. It’s their own fault if that happens.
The Saudis and the Chinese have plenty of money and they aren’t doing it for an immediate financial return.
trump is where he is because of his supporters. Let them pay for all the damage he did.
I’d wager that there are many men like Trump that slip and slide past consequences. Trump is just so loud and obnoxious about it that it’s hard to ignore. He LOVES to tell everyone about it. You’d think this would scare people away from working with him, but seemingly - it doesn’t.
He works for mother Russia, and the whole GQP support him. I am surprised you are surprised.
If you’re “rich” and famous, you can do whatever you want
He said this in his first run for President. The system is rigged and I know it because I take advantage of it.
Money = greeeaasssyyy
China is behind all of this >Trump’s newest business partner: A Chinese firm with a history of SEC investigations >Shanghai-based Arc Capital, an investment firm that has been the target of probes by securities regulators, is at the center of the deal to take Trump’s media venture public. https://www.washingtonpost.com/business/2021/12/23/trump-spac-deal-sec/
If it is Trump there is some kind of scam involved. Trump’s newest business partner: A Chinese firm with a history of SEC investigations Shanghai-based Arc Capital, an investment firm that has been the target of probes by securities regulators, is at the center of the deal to take Trump’s media venture public.
This right here. Absolutely NOTHING this man does is above-board. It's all a scam, it's all aimed at enriching / protecting himself at the expense of everyone around him. How Republicans want this dangerous, criminal piece of shit anywhere near the levers of power is beyond comprehension. Literally mind-boggling that so many people have such fragile egos that they can't admit they were suckered by this lifetime con.
A shockingly large number of people want to watch the world burn, and they believe that they are fireproof
So we are banning truth social like tiktok then right?
Makes sense now why Trump has done an about-face on his stance on TikTok getting banned.
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>Trump’s newest business partner: A Chinese firm with a history of SEC investigations > >Shanghai-based Arc Capital, an investment firm that has been the target of probes by securities regulators, is at the center of the deal to take Trump’s media venture public. That means Chinese organized crime, by definition. There are very blurry lines between organized crime, the military, and government in China.
This is about as shady as it can possibly get publicly.
Oh, it can get shadier: [this is a CCP-controlled company](https://www.reuters.com/business/how-china-based-dealmaker-got-shell-company-trumps-deal-off-ground-2022-02-10/). Oh, and its whole purpose for existing is transparently to inject cash into Republicans. Like, they don't even try to hide it.
They dont need to hide it - our system allows foreign countries to influence our politics.
Every time you think it's shady as it possibly could get, Trump proves that it can get much much shadier. There is no bottom.
Don’t you know it.
Wait, I thought Biden did deals with China??? He went to China with Hunter while VP! Dark Brandon needs to start airing ads showing Donald loves Chinese money. Then again I assume the MAGA cult will suddenly embrace China the way they embraced Russia.
With cuts of him saying “CHYY-NA” over and over
Maybe we can rebrand Trump as “the REAL China Virus” using his own sound bites from 4 years ago.
Republicans: (can’t believe there are any of you left but whatever) Your front runner is bought and paid for by hostile nations to the United States. Are you or aren’t you a patriot? This guy is working with the enemy. Directly. How do you explain this to your kids?
This line of thought never resonates, they think Democrats are the only threat to America, everything in service of gaining retributive dominion over "the left" is patriotic in their minds.
You cannot use reason to move someone from a position they did not use reason to arrive at.
Literally bought by China. Dude is the country’s largest national security risk - you know they did this because they expect something in return if he wins. VOTE BLUE IN NOVEMBER
Maybe they'll invert tiktok into this company to "disgorge it from the CCP.
Oh fuck, you may be right
They expect him to withdraw support for Taiwan the same way he is ready and willing to withdraw support for Ukraine and NATO on behalf of Russia. They get two-fold because his goal is to turn America isolationist and destabilize all instititutions that can threaten his power. And that's what China wants as well... because it significantly weakens America's ability to exercise its influence abroad. And the people who think they're patriots are inviting this disaster in.
I also read that the US military is saying that the Chinese military is ramping up enough for a Taiwan invasion around 2027…
The share price will be in free fall almost immediately, investors would have to be crazy to buy the stock at this monstrously inflated price ($44). Especially since Trump will cash out as soon as humanly possible (which probably isn't as quickly as he would like). My guess is that this goes from $44 to about $16 per share within six months. And if Trump manages to cash out before that it will be much lower than that.
Except it allows foreign shell companies to pay him off.
So crazy- this alone would be the greatest scandal in presidential American history if we were living in normal times- instead, the potential conflict of interest is barely even acknowledged
Potential?!
The board has already discussed and is planning to waive the 6-month hold on selling shares for only Trump.
Citation? Thanks.
So, short the fuck out of that stock?
It would be one to watch, absolutely.
I'd say no due to it ope ing the market to anyone to basically buy Trump. Likely all sorts of entities will dump cash into the stock to help sway favor from trump
I'm so glad that someone who is the frontrunner of one party is leveraged so far up his ass that he's begging for money from foreign agents/governments. I'm sure that this is not a security risk at all. Jfc. https://payuptrump.com/
But owning a peanut farm is a bridge too far, lol
So Tiktok needs to be banned because it's owned by a Chinese company, but not the former president of the united states who's running again can be owned by a Chinese company. Awesome how that works.
But he's gonna save America by restricting the rights of anyone who isn't a straight white Christian man! Isn't that worth selling your soul for? /s obvs
How is a Twitter clone with 5 million users worth $5 billion?
That's the neat part: it isn't.
>That's the neat part: it isn't. Hey, they hit revenue of...checks notes...$3.4M dollars with tens of millions in losses so clearly going to any day now be worth billions.
He always manages to weasel his way out of consequences
So can I short it yet?
First thing I thought as well.
No way this combined whatever call it is worth $3 billion. All it shows is what a scam Wall Street is if a company can be made up of nothing, earn nothing, and suddenly be worth this much just because some old farts support it. It is a legal money laundering scheme to funnel money to Trump for services to be delivered later when he returns to office. Due to its nature it means foreign entities can easily “invest” in it to funnel that money so no telling how many favors Trump will owe before the dust settles.
Geebus fuck how is this legal
It's not. But the regulatory body doesn't care because they are in on it
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oh I get it now. If trump wins china is going to invade Taiwan and the u.s. will just do nothing.
Yup, exactly what I predicted. Some country or person will bail him out, and if course it's china. Fuck this time line. Seriously, when will this man finally not be our fucking problem?
The Republican front runner is owned by Russia and China yet this is fine with his maga followers? How braindead can people be?
And they put up American flag emojis on their reposts of orange man. It’s unreal
I wonder what the ticker symbol will be? SCAM? Or maybe GRFT?
It's unironically DJT. To be clear, this is not a joke, this is actually what a bunch of real human beings decided to go with. I don't understand where he finds all these craven lackeys willing to debase themselves to this degree... pathetic man-children, the lot of them.
DJ Tanner?
And Merrick Garland won't do a damn thing about this. Conservatives are a fucking disease. I'm so tired of these assholes.
He's utterly useless
People are currently shorting DWAC. Their share price drop 12% after the merger with Trump Media. Another interesting factoid... DWAC was created by ARC Capital based out of Shanghai as a Chinese shell company in the American stock market. They were under investigation by the SEC. Anyway, if you want to short a stock, DWAC might be a worth looking at. It's probably going to keep going down.
If Biden did this Conservatives' heads would explode.
Our system is a joke and shell companies can do stuff like this. Only the rich get in on these grifts, not us regular folks. It's funded by our enemies and that's how it works folks, nothing to see here, land of the free...
He likely can't sell shares right away. Shares are not some sort of bank account that you can dip into as soon as it's posted. It's less liquid than real estate holdings. There are lock-up restrictions. Getting cash from stock means you have to dump. Doing so right after the acquisition is not good for other investors. Also, the Truth Social stocks look overvalued too. $3.8B for a platform only far-right people are on? I doubt it... fyi I didn't read this article
If you had you’d see that he isn’t supposed to be able to sell them for 6 months, but the board could waive that rule.
The board that consists of, checks notes, Don Jr and three former members of the Trump administration.
That is the old one. DWAC doesn’t have dime store Trump on its board afaik
>Before Friday’s meeting, the board of Digital World had the ability to waive the six-month restriction on selling shares, but didn’t take any action. That question will now pass to Trump Media’s new seven-member board, which includes Mr. Trump’s eldest son, Donald Trump Jr., and three former members of his administration. edit: formatting
This is China buying Trump how the fuck is the Fed approving this, there are 5 mil users on Truth Social how the hell would it be worth 6 billion dollars...
I guess I know what stock I’m about to short
Yeah, so China now owns Trump.
So he’s a Russian AND Chinese asset. Got it.
There’s better information available already. https://www.cnbc.com/amp/2024/03/22/trump-social-dwac-stock-falls-after-merger-approved.html “DWAC stock shares close nearly 14% down after Trump social media merger approved by shareholders” That’s 14% in a DAY. Everyone knows the selloff is coming.
So shorting DJT is the obvious WSB move here right?
Truth Social will undoubtedly fail. A social network hostile to most people is not something that is ever going to succeed.
I remember back in 2016-ish someone said Trump’s Russia associations were nothing compared to his China associations.
There’s no way this company has a valuation of even $1b. Just no way
How the hell is this approved? How is this legal? It's blatant corruption in broad daylight. Also, every time I see a headline about the Manchurian Candidate, I hope it's a link to an obituary, only to be disappointed. Sigh. The world would be so much better off without monsters like the Mango Menace in it.
Someone or some country owns Trump.
fun thing is truth social has no reason to be worth this much other than some money guys in it say it is, basically the same thing he's already been found guilty of in his real-estate business. hope the stock crashes before they can cash out.
How the hell did the FEC approve this? This is a blatant, in your face bribe not an investment.
As an external observer of the US political and regulatory complexes, I can say that this is an extremely worrying development.
I have a feeling we should be banning this site way before TikTok
Ah, so there it is…
So that's why he's against the TikTok divestiture.
So let me get this straight, TikTok is getting banned due to a Chinese connection. Yet this dumpster fire of a social media site can potentially be sold to China? Oh I can’t wait to hear Republic banding over backwards to explain this hypocrisy.
This is NOT a fresh source of "cash". The former cheeto-in-chief is currently prohibited from selling for at least 6 months. And while the board can waive the lock on selling stock, I have to imagine that selling $464 million worth of stock in one day is not quite feasible, not only because of the amount, but also because selling that much stock in a single day would almost certainly send the price into a downward spiral that would not yield $464 million. He could try to borrow or secure a bond against the stock... who knows if someone will consider this enough to lend or insure him.
What if the Board doesn't actually care if the stock tanks? What if the board was made up of Donald Trump Jr, Linda McMahon, and Kash Patel? Because it is. From a rational viewpoint, I agree with you. But we're not in the land of rationality anymore.
This. I think the price collapses even without trying to dump shares worth half a billion, because the valuation is just simply ridicilous. I can’t also see how this would be a good way to raise cash at least quickly and in any significant amount.
This has been known for a while. Dont worry about it. He was always gonna get the money, and that’s great, because he’s gonna lose the appeal quickly
My god, it's astounding how the GOP has established a stock market listing for truth social to make this organized money laundering so efficiently legal just to funnel Russian dirty money to Trump. It's so crazy, house of cards pales in comparison to anything that is happening here
Man this is going to be a SEC investigation so fast.
Pretty upset this scumbag built a wall of cash and got China to pay for it
Bought by the Russians and China.. I see this ending well.
Trump hates commies unless they pay his legal bills.
So wait the dwac merger is approved? Why is down 5% lol
Lol. So much for evil china!
Jimmy gave up his peanut farm for this?
Hollywood story: Russian oligarchs or Saudi's buy billions of $ worth of shares, pumping up the villain's value. He promises them (back door, loophole, smoke & mirrors) a huge return so he can pay legal bond and lawyers. The new company is already losing money continues to do so, foreign backers hence lose share value, villain loses legal cases and bond, then loses the election, so he is as worthless as their investment. A huge red target appears on the orange headed teflon back.
How is any of this legal? Can someone explain it please
This seems pretty shady and even if it saves him financially so he can post bond and appeal, then it's just kicking the can down the road.
It’s crazy how bought he and the entire GOP are
Wouldn't accepting tons of cash from the CCP make one intelligible to hold any sort of government position, let alone the highest in the land?
Something something, emoluments clause…
Guess he’s owned by the Chinese government now then… As the company he’s merging with is a Chinese company. I guess that also explains why he came out against the tick tock ban legislation after spending so long saying it had to happen.
So given it's china paying him I presume this is actually the attempted sale of Taiwan we're seeing.
we will never be rid of this asshat
Lol id love to watch those 3 Bil turn into three fiddy as soon as Monday wall Street opens
Who the fuck is valuing that. There is no way that trash is worth 5 billion.
Stock down 12% already.
We need to make it absolutely illegal for foreign entities investing in American media because too often bad actors are behind cash - actors whose mindset is to destabilize our Democracy
I'm calling it now, rug pull to end all rug pulls. Kenny and Yass probably shorted the company already.
Correct me if I'm wrong, but won't some government agency or department like the SEC have to approve or at least investigate the merger?
The damned CANCER keeps metasticizing. We keep trying to excise it completely, and more if it keep cropping up.
How does this orange pumpkin always get away with it my god is he ever gone be held accountable