Trump Media & Technology Group Corp (NASDAQ: DJT) stock spiked by over 25 per cent Friday after the former president verified that he would not be selling his US$1.8 billion dollar stake.
Speculation about whether he would relinquish his 57 per cent interest once lock-up restrictions expire next week has now been laid to rest. “No, I’m not selling. No, I love it,” he told reporters at a press conference.
According to Forbes, the presidential candidate’s net worth has shot up by US$200 million as a result. He is now worth about US$3.9 billion.
“I don’t wanna sell my shares,” he reiterated to journalists at an LA golf club. “I don’t need money.”
However, Trump’s net worth is nothing compared to what it was in late March when the stock shot all the way up to US$66. His valuation is intimately tied to the company, which has been on a turbulent course financially for quite some time.
Trump Media lost over US$58 million last year while only pulling in US$4.1 million in revenue. Friday’s spike followed the stock hitting a record low on Wednesday after the business magnate’s questionable performance at the debate in Philadelphia.
Trump Media is responsible for management of the Truth Social platform. It is said to have been created to promote free speech while fostering discussion on conservative viewpoints. Truth Social first emerged after the presidential hopeful was banned from other social media platforms following the Capitol riot in 2021.
https://twitter.com/Jemsinger/status/1833165975539130791
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Trump befriends ‘far-right conspiracy theorist’
Laura Loomer, an individual who believes that the 9/11 attacks were carried out by the CIA or another deep state entity, has been on the campaign trail with Donald Trump this year.
“The 9/11 documents are still classified to this day,” Loomer says. “The American people deserve to know the entire truth.”
She flew into Philadelphia with him Tuesday for the last debate and they attended ceremonies commemorating the harrowing events in Manhattan 23 years ago in Pennsylvania and New York.
“I don’t work for President Trump. I am simply a ride or die supporter,” Loomer explained to ABC News.
This controversial relationship has been the subject of widespread attention in the media this week. Trump says they share a mutual disgust with the far left even though he disagrees with some of her views.
“Like the many millions of people who support me, she is tired of watching the radical left Marxists and fascists violently attack and smear me,” he said.
Just so you know – nobody works harder for Trump then @LauraLoomer. She is relentless and breaks so many stories, through hard work, that nobody else could dream of. She’s always been so nice to me behind the scenes and I don’t throw my friends under the bus when times get…
— Catturd ™ (@catturd2) September 13, 2024
rowan@mugglehead.com
