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Donald Trump’s Truth Social soars on market debut: all you need to know

Economic TimesEconomic Times · 1y ago
Donald Trump’s Truth Social soars on market debut: all you need to know
Medial

Donald Trump's social media company, Truth Social, experienced a strong market debut with its shares surging by approximately 16% on the first day of trading on Nasdaq. The company's market value currently stands at $7.85 billion, with Trump's stake worth around $4.6 billion. However, Truth Social's financials reveal a loss of $49 million in the first nine months of 2021, raised concerns about ongoing operational losses, and reported significantly lower user numbers compared to popular platforms like TikTok and Facebook. While small-scale investors are showing support for Trump and seeking to capitalize on the excitement, some investors remain cautious due to the company's dependency on Trump's presence.

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Trump’s newfound wealth hinges on winning the election

LivemintLivemint · 8m ago
Trump’s newfound wealth hinges on winning the election
Medial

Former President Donald Trump's financial situation is more stable now compared to previous years. However, his success or failure in the upcoming election will have significant implications for his wealth and legal matters. His stake in Trump Media & Technology Group, which operates Truth Social, a social media platform, is valued at around $4 billion, but it could plummet if he loses the election. Despite this risk, Trump's net worth is estimated to be between $7.5 billion and $10 billion, largely due to the performance of his golf properties and a strong cash position. The value of his real estate holdings has declined due to the office market downturn, with properties such as 40 Wall Street seeing a significant decrease in value. The Trump Organization, however, has been paying off debt, selling assets, and accumulating cash to weather the real estate downturn. Trump also faces various legal issues, including criminal charges and civil fraud cases, which may require a significant amount of cash. With more than a dozen golf courses and resorts generating over $400 million in annual sales, the Trump Organization is expected to survive regardless of the election outcome, but the extent to which it can grow may be affected by legal judgments and fees. Trump's son, Eric Trump, is likely to continue managing the business, focusing on domestic properties and potential expansion in certain international markets.

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