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[–] 112 points 2 years ago (6 children)

Trump owns nearly 59% of Trump Media’s stock. Even after losing much of its value, Trump’s stake at Wednesday’s stock price is still worth more than $2.2 billion — more than half of his on-paper net worth, according to Forbes.

Yea, I call bullshit on that.

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  • [–] 52 points 2 years ago (4 children)

    If he tries to sell any substantial portion of his holding, the price will crater.

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  • [–] 18 points 2 years ago (1 child)

    There are 192M shares and an average daily volume of 5.5M.

    There is no way Trump could sell 113M shares quickly, the stock would absolutely crater and the market would react.

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  • [–] 4 points 2 years ago

    But he can still borrow against the value of those shares.

    That’s how these parasites afford all their private jets and other insane luxuries. They just pull out loans against the value of their stock holdings, pay accountants to make sure it’s never a problem, and essentially spend their money while keeping it too.

    It’s insane, because they essentially never have to pay taxes on anything but their personal income, and then you have grifters like musk who don’t even take salaries and just live off the loans.

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