The latest brilliant business move by Donald Trump might just eclipse his infamous flops of the past wherein he bankrupted four casinos, shuttered his phony “university” and discontinued dozens of hokey side hustles (water, ties, steaks, magazines, games, watches, cologne, crypto, etc.) intended to separate his gullible flock from their finances.
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Five years ago Trump launched his Trump Media and Technology Group (TMTG) that was the parent corporation for his Twitter ripoff, Truth Social. But since then TMTG has diversified it into a variety of totally unrelated – and equally unsuccessful – businesses such as streaming video, cryptocurrency, MAGA-centric mutual funds, and even nuclear fusion. And because they were all affiliated with Trump, they have all performed with the hallmark ineptitude that is emblematic of the Trump name.
Now Trump has announced that his primary TMTG operation, Truth Social, has suffered a staggering setback. He had previously announced that it was going to be spun off into a separate, standalone company. But now those plans have been scuttled….
“Trump Media and Technology and TAE Technologies announced on Wednesday they have abandoned plans to spin off Truth Social and certain other media assets into a separate publicly listed company. The companies did not disclose reasons for canceling the proposed spinoff of the conservative-focused social media platform.”
There really wasn’t any need to disclose the reasons for this annulment. It’s obvious that Truth Social is too weak to survive on its own. It has never made a profit. It has abysmal user statistics. It has been mired in criminality and other scandals. TMTG stock, with Truth Social as its core component, has suffered an 90% decline from its high mark. Who would want to invest in that?
What’s more, there is new evidence every day that Trump enterprises are nothing more than con games intended to enrich him and his mob family. Most recently, Reuters reported that…
“[The] Trump family has made $2.3 billion from crypto with little-to-no downside risk, while other investors have lost $2.3 billion, including paper losses, as of the end of April.”
That’s not exactly a track record that will encourage investor participation. Instead, it illustrates how Trump exploits his cult disciples for his own financial benefit, and provides pathways for conflicted parties (corporations and foreign operatives) to funnel cash (aka bribes) to him. And that’s pretty much been his modus operandi from the start. For instance…
YOU’RE FIRED: Trump Media’s CEO, Devin Nunes, Gets Booted From the Failing Truth Social Company
Devin Nunes, who had no relevant business experience whatsoever, proceeded to run the sham operation into the ground. He packaged it with a variety of unrelated undertakings, such as cryptocurrency, mutual funds, gambling, and even an attempt at AI that seemed to go rogue.
Trump’s Cratering Truth Social Stock Reflects the Catastrophe of Everything That Trump Does
Trump Media and Technology Group Corp. plans to issue a new cryptocurrency, which will be distributed among its shareholders. […] The coins won’t represent ownership of DJT shares, and may not be transferable or exchanged for cash.
Trump’s Scammy Media Stock, and Truth Social Parent, Completes a Classic Pump and Dump
The merger of the Trump Media and Technology Group (TMTG) with TAE Technologies, a nuclear fusion startup. TAE’s energy products are at present speculative and they have no facilities generating any power resources. Nevertheless, the news caused TMTG’s stock to surge 33%, but two weeks later reversed course back to around $12.80. So anyone who jumped in on the news is already suffering a 25% loss.
Trump Media (Truth Social) Falls to Its Lowest Point Ever – And So Does Donald Trump
Reflecting the animus that Trump inspires in America, his scam business venture, Trump Media and Technology Group, is suffering its worst week since it went public a year and a half ago. It has lost a whopping 80% of its asset value since then.
The Trump Media and Technology Group (Truth Social) Scam Reflects His Fondness for Fraud
During an interview on CNBC, Trump complained that he has been treated “very badly” by banks that he alleged were discriminating against him. Of course that might be because of the 34 felony convictions he has for defrauding banks. Not to mention a civil lawsuit finding of liability that cost him about half a billion dollars.
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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