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this post was submitted on 12 Apr 2024
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politics
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The point wasn't to profit. The point was to funnel money to Trump. IPO shares go into the company's bank account of which Trump owns 60%.
Trump can't touch the stock until a 6 month waiting period is over.. By then it'll be a penny stock.
It doesn't matter that he can't touch the stock. The cash has been deposited to the company's bank which he owns. He doesn't need to sell the stock. He has the company's cash that all the IPO investors gave him.
Thankfully it does matter... the IPO for the stock happened in 2021, and this year renamed to DJT following a merger with Truth Social. The money from the 2021 IPO is long gone as the Org has been losing money since.
A lot of these stock-wealthy guys (e.g. Elon) get around taxes by taking out low interest loans against their stock.
Is it possible he could do that instead?
It would be a dumbass bank who would do it, but it's not impossible.
So far, only shady-ass car loan shark company has been willing to accept Donny’s collateral, maybe, unless it’s just after bribe to get them out of trouble if that dickhead manages to win the election.
Oh shit for real? You have a source? Not doubting you, just curious
https://www.cnbc.com/2024/04/12/trump-tries-to-boost-support-for-truth-social-as-his-media-stock-tanks.html
"Trump owns more than 57% of the company's stock, though he is barred from selling his stake until a six-month lockout period expires."