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Trump’s Truth Social May Be the Biggest Weapon in Presidential Race

Daniel Kim Views  

Trump Fraud Trial Explainer
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The value of Truth Social, a social media platform owned by former U.S. President and Republican presidential candidate Donald Trump, is skyrocketing, approaching nearly three times his assets at $5 billion, reported the Wall Street Journal (WSJ) on the 31st (local time).

WSJ reported that at its establishment, Trump Media & Technology Group (TMTG), the parent company of Truth Social, had a revenue of just $5 million. Still, its current market capitalization is about $8.5 billion. Trump owns about 60% of TMTG, making his stake worth nearly $5 billion.

TMTG went public on the New York Stock Exchange on the 26th and saw a significant increase of 16% on the day of listing and 14% on the 27th before falling 6.4% on the 28th.

WSJ noted that while Wall Street has always played a significant role in politics, this time, it’s unprecedented with the listing of TMTG, resulting in a mashup of a stock market frenzy and political fundraising.

It further explained that Trump’s supporters have suddenly been able to support his election campaign by boosting the TMTG stock price, a political expression beyond buying Make America Great Again (MAGA) hats or Bibles.

US-FORMER-PRESIDENT-DONALD-TRUMP'S-SOCIAL-MEDIA-COMPANY-BEGINS-P
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Analysts predict that former President Trump, with the approval of a friendly board, could liquidate several hundred million dollars within a few months. This could alleviate financial pressure from civil lawsuits and strengthen his presidential campaign, which is lagging behind President Joe Biden in fundraising.

WSJ pointed out that TMTG’s stock price has become the first to predict the election results on November 5. Previously, investors used to bet on election results using companies’ stocks in policy-sensitive areas like clean energy. Now, they have a heavily traded stock almost exclusively tied to Trump’s presidential victory.

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Former President Trump, along with his eldest son Trump Jr. and second son Eric, was fined $364 million for real estate inflation fraud loan suspicion and needed to prepare a deposit of $175 million for appeal by early April. He also received a fine verdict of $88.3 million in two civil lawsuits for sexual assault.

Furthermore, as of the end of February, the fundraising amount of the Biden camp and the joint committee was over $155 million, while the Trump camp and the joint committee’s fundraising amount was only $74.4 million.

President Biden raised a record-breaking $25 million at a fundraiser in New York on the 29th. Former Democratic Presidents Barack Obama and Bill Clinton and Hollywood stars made appearances. The entrance fee ranged from $225 to $500,000; over 5,000 people attended.

The Wall Street Journal recently reported that if the stock price of TMTG continues to increase and the former President of the United States, Donald Trump, decides to sell his shares or borrow money using them as collateral, it could result in an unprecedented amount being spent in U.S. election politics. A presidential candidate may use their funds without limitations if they report the details to the Federal Election Commission.

It’s uncertain whether former President Trump will invest his assets in the election campaign, but in response to reporters’ questions last week, he said, “I might. I have options.”

Daniel Kim
content@viewusglobal.com

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