Promotional videos on social media
Truth Social stake worth $4 billion
The money shortage is likely to be resolved soon
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Facing financial pressure due to astronomical legal costs, former US President Donald Trump fosters Bible sales.
According to AP News, on the 26th (local time), the former president posted a video on his social media platform, Truth Social, encouraging his supporters to purchase the God Bless the USA Bible.
Wishing everyone a happy Easter, he urged his supporters to buy a copy of the God Bless the USA Bible and directed them to a website selling Bibles for $59.99.
Former President Trump is under financial pressure as he faces four criminal lawsuits and numerous civil trials, resulting in massive legal costs. Although the New York appellate court reduced the security deposit for a civil lawsuit for real estate loan fraud from $454 million to $175 million, it must be paid within ten days. He has already paid $91.6 million in bonds as a security deposit in the defamation case brought by E. Jean Carroll.
The venture website selling the Bibles promotes them as Bibles endorsed by President Trump! Stating that the text is large and easy to read, and the design is sleek. The King James version of the Bible includes the US Constitution, the Bill of Rights, and the Declaration of Independence.
The website has disclosed using former President Trump’s name, portrait, and image under a paid license with CIC Ventures. It seems that Trump benefits from the Bible sales since CIC Ventures is the company that he declared his own during the financial disclosure in 2023.
Last month, the former president also sold the Trump brand of sneakers. He ventured into NFTs (Non-Fungible Tokens) and reportedly made up to $1 million by selling digital cards featuring cartoon images of himself depicted as a cowboy, astronaut, and superhero. He has also published a book containing photos taken during his presidency and letters he received.
However, Trump’s financial difficulties may soon be resolved. The stock price of Truth Social, the social media platform established by the former president, jumped over 10% on its debut day on the New York Stock Exchange through a backdoor listing.
On that particular day, the stock of Trump Media & Technology Group (TMTG), the parent company of Truth Social, increased 16.1% and closed at $58 compared to the previous day’s closing. The stock code was modified to DJT, which represents the initials of the former President.
With the rise in TMTG’s stock price, the shares held by former President Trump are worth $4.6 billion based on the closing price that day. This amount is enough to cover all of Trump’s astronomical legal costs.
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