America’s Grifter-in-Chief, Donald Trump, has tried an extensive number of financial scams intended to fatten his wallet at the expense of his gullible cult followers. They range from selling cheesy merch like sneakers, phones, bibles, and crypto, to committing fraud that resulted in 34 felony convictions.
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Among Trump’s most transparently dishonest ventures is his stake in the Trump Media and Technology Group (TMTG), which is the parent corporation of his Twitter ripoff, Truth Social. TMTG has been a disastrous investment that has lost billions of dollars for Trump’s faithful, while funneling untraceable cash – perhaps from conflicted businesses and foreign agents – into Trump’s personal accounts. And he has a whole network dedicated to that pursuit.
SEE THIS: THE TRUMP INDEX: While Trump Tanks the US Economy, What’s Going on With the Trump Cult Economy?
Unfortunately for those who trusted Dear Leader, the stock value of TMTG has crated more than 50% since Trump’s inauguration. Which is to be expected from a company that has done nothing but lose money from the day it opened for business. So what does a sham enterprise like TMTG do under these dreadful circumstances? They just announced that are planning a share buyback program. As reported by the Associated Press…
“President Donald Trump’s media company plans to buy back up to $400 million of its stock, which have lost 46% of their value this year. […] It will retire the shares after they are purchased, meaning these particular shares can’t be reissued.”
This is a tactic that is sometimes used to juice failing stocks. By reducing the shares available on the market, the remaining shares should be more valuable. That would mean an extraordinary leap in wealth for Trump who is the largest stakeholder in Trump Media, with about 114 million shares that he paid nothing for. However, since the announcement, TMTG’s shares have been flat, or even declined.
The tepid reaction to the buyback says something about the quality – or lack thereof – of that investment. But at least we know that they are trying to grease Trump’s palm, even if it isn’t working. Which is nothing new for TMTG. Here is a look back at it’s prior efforts to fleece Trump’s flock.
SRSLY? Trump Brags that His Pitifully Failing Meme Coin is a ‘Tracker’ of His Imaginary Success
Trump’s meme coin is hardly a game-changer. While it has generated a significant horde of untraceable cash for Trump, who paid nothing for his shares, it has been an abysmal loser for nearly everyone else who was foolish enough to invest in it.
Trump’s Truth Social is Creating ‘Non-Woke’ Investment Portfolios for MAGA Cult Investors/Dupes
The focus of the Trump investment portfolios rests on buzzwords plucked from his political rhetoric. And what could possibly have more income potential than “non-woke” enterprises that pursue the anti-democratic goals of the MAGA movement?
Truth Social, Trump’s Pathetic Personal Propaganda Platform, Continues to Bleed Cash
In what may be the least surprising news of the year so far, Donald Trump’s flagship social media enterprise, Trump Media and Technology Group (TMTG) – the parent holding company of his failing Twitter ripoff, Truth Social – released its annual report on Friday that revealed just how big a failure it is.
Trump’s Truth Social is Shedding Users Like a Miserable Childless Woman’s Mangy Cat
The Donald Trump-controlled Truth Social platform recorded its third straight month of declining traffic. Truth Social attracted 2,112,000 unique visitors, down 38% compared to June 2023 when the site generated 3,407,000 unique visitors. It was the platform’s second worst traffic performance since June 2022 when Truth Social had only 1,891,000 unique visitors.
Trump Crime Syndicate: Investors Arrested for Insider Trading in Failing Truth Social Scam
Trump’s associates in his truthless, anti-social media venture were arrested and charged with insider trading. Reports indicate that “the three individuals together made more than $22 million in illegal profits.”
Truth Social Disease: Ads on Trump’s Twitter Ripoff are Mostly Scams and Trump-Fluffing Merch
Advertisers are afraid of their ads being juxtaposed with hate speech and other noxious content. Consequently, the only advertisers who are willing to shell out are sketchy scammers, conspiracy theorists, and junk peddlers.
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