General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIf I were Leticia James, I'd be reluctant to place a lien on the Truth Social shares
as payment of his judgement. Those shares could be worth millions one day and nearly nothing the next.
Eliot Rosewater
(31,134 posts)it operates to the tune of $3 billion.
Irish_Dem
(47,833 posts)Or how or why it operates.
There is only one salient point in his mind: $3 Billion
WarGamer
(12,506 posts)DWAC, now known as DJT will stay pumped through election day... the MAGATs and Foreign entities can keep it that way.
It's a relatively low volume ticker so pretty easy to keep the price up...
PLUS nothing illegal or campaign finance law naughty to buy the stock and add it to the Saudi Sovereign Wealth Fund... or to a Russian Billionaire portfolio.
It'll end up being a slush fund for dark money without breaking laws.
GopherGal
(2,010 posts)I couldn't figure out any conditions under which someone would want to buy this.
Other than: To give money to TSF.
If I read correctly, the company is losing money. Their theoretical income stream would be advertising, but, as the other famous narcissist/authoritarian is learning, mainstream advertisers aren't keen on the idea of their ads appearing next to hate speech.
TSF will retain 60% of the shares. He's supposedly barred from selling them for the first 6 months, but an exception can be made with approval of the board, which is to be composed primarily of his flunkies.
The most prominent content provider is TSF. So the viability of the platform is at risk subject to the possibility of his sudden KFC-clogged demise, potential incarceration, post-election-loss irrelevance, or his temper-tantrum-fueled decision to take his rants elsewhere. That's a lot of risks. So, yeah, they can probably keep it viable as an insulated MAGA-world until election day (assuming the KFC-derived saturated fats don't do their thing.) to use and an end-run around those pesky campaign-finance laws.
WarGamer
(12,506 posts)He has 79 million shares... and can't sell without authorization... but the popular thing nowadays for Musk and others... is taking out loans using stock as collateral.
You don't pay any taxes on cash from loans.
GopherGal
(2,010 posts)Everything I wrote about is a concern for any rational actor (including, say, a bonding company) trying to figure out how to be adequately compensated for the risk they would incur in putting up a bond for a man with a history of multiple bankruptcies as well as fraudulent inflation of asset values.
WarGamer
(12,506 posts)Wouldn't shock me if Musk or other billionaires gave him the 500m in exchange for DJT stock as collateral.
So a private cash deal for the Bond.