![\"Donald](\"https:\/\/www.newscorpse.com\/Pix\/Trump\/trump-baby-twitter.jpg\")
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Among the most obvious vehicles for Trump’s financial shenanigans is his failing Twitter ripoff, Truth Social. Its stock has managed to maintain a preposterously high value despite losing millions of dollars and having a miniscule user base that seems to shrink every month. Nevertheless, it constitutes the largest share of Trump’s net worth.<\/p>\n
This week, a new SEC filing by the company revealed that Trump has transferred his majority share holdings to a revocable trust in an attempt to deceive the public that he is separating himself from financial interest in the enterprise. But like virtually everything else that Trump engages in, it is a thinly disguised scam structured to unscrupulously enrich himself. As reported by USA Today<\/a><\/strong>…<\/p>\n “Trump transferred 114.75 million shares, or 53% of Trump Media & Technology Group’s outstanding stock, to the revocable trust of which he is the sole beneficiary, according to securities filings released Thursday evening. […]<\/p>\n Trump Media, which had a net loss of $19.2 million and earned $1 million in revenue in the latest quarter, is valued at over $7 billion. Trump’s stake in the company was valued at roughly $4 billion based on the stock’s last closing price of $34.71.”<\/p><\/blockquote>\n The trust into which Trump transferred his shares cites Trump as its sole beneficiary. What’s more, it is fully controlled by his son, Donald Trump Jr., and there is nothing preventing Trump from intervening in its management. Being “revocable”<\/em> means that Trump can change the terms, remove the trustee, or scrap it entirely, if it satisfies some greedy motivation on his part.<\/p>\n There are a couple of serious problems with the way Trump is handling this (and all of his other assets, for that matter). First and foremost, he can use the stock as means to collect funds (bribes?) from wealthy pals and corporations seeking favors from the his administration. Even more troubling is that he can do the same with foreign businesses and governments, including those hostile to the United States such as Russia, China, and North Korea, all of whom Trump idolizes and brags about having close relationships with.<\/p>\n Furthermore, Trump can violate his pledge not sell to shares in the company in order to cash in on his scam, while pretending that it was the trust, not him, who sold. That could put billions of dollars into his own pocket at the expense of all the other shareholders, who would see the stock value collapse if Trump – or his phony trust – sells out.<\/p>\n Trump’s refusal to divest of his assets<\/a><\/strong>, or place them in legitimate blind trusts, is a pretty good indication that he intends to repeat the unethical misdeeds<\/a><\/strong> of his previous administration, wherein he was reported to have earned as much as $160 million dollars from foreign sources<\/a><\/strong> \u2013 predominantly the Middle East and China. And the misuse of this bogus trust only affirms his determination to profit off of his sleazy business activities. Such as…<\/p>\n While hawking his blasphemous, branded bible, Trump actually says "Make America pray again." Really? Is that an order?<\/p>\n When listening to him, replace the word "god" with "allah." How is this any different than Sharia Law? https:\/\/t.co\/J3bCgKwv8o<\/a><\/p>\n — News Corpse (@NewsCorpse) December 20, 2024<\/a><\/p><\/blockquote>\n\n