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Posted on 3/25/24 at 5:15 pm to cwill
The point is that all 500 of the "richest" people in the world have their wealth based on dubious valuations of stock, companies, private wealth funds, completely illiquid assets, etc.
Much of their wealth valuation is self-reported. A lot of it is bullshite. Is Trump's? Possibly, but he's still rich as frick and anyone that tries to minimize it by some false standard is just a jealous idiot.
Much of their wealth valuation is self-reported. A lot of it is bullshite. Is Trump's? Possibly, but he's still rich as frick and anyone that tries to minimize it by some false standard is just a jealous idiot.
Posted on 3/25/24 at 5:32 pm to Bjorn Cyborg
It's fitting that Truth Social becomes maybe the most absurdly overvalued meme stock in history.
This post was edited on 3/25/24 at 5:34 pm
Posted on 3/25/24 at 5:36 pm to Bjorn Cyborg
Do any have half their wealth based on a SPAC social media meme stock, which social media company has 5MM users?
Posted on 3/25/24 at 5:36 pm to Diseasefreeforall
I sure as hell wouldn't buy it. I think the chances of the company going out of business is close to 100 percent.
But I also think Trump will end up making several hundred million off of it before it fails, perhaps more.
But I also think Trump will end up making several hundred million off of it before it fails, perhaps more.
Posted on 3/25/24 at 5:38 pm to boomtown143
And President Potato Head has an IQ of 69, making him one of the Worlds dumbest leaders.
Posted on 3/25/24 at 5:39 pm to Diseasefreeforall
I edited my post above because I thought my calculation was wrong and there's no way this thing effectively has a market cap of $11 billion but it's true.
Truth Social brings in less than $10 million per year, burns $200 million and is worth $11 billion. A lot of folks are eventually gonna get wrecked on this one.
Either this thing will collapse in the 6 months until he can sell his shares or he's gonna make billions dumping on some diehard greater fool supporters.
Truth Social brings in less than $10 million per year, burns $200 million and is worth $11 billion. A lot of folks are eventually gonna get wrecked on this one.
Either this thing will collapse in the 6 months until he can sell his shares or he's gonna make billions dumping on some diehard greater fool supporters.
This post was edited on 3/25/24 at 5:42 pm
Posted on 3/25/24 at 5:40 pm to Plx1776
That is the beauty of it
Posted on 3/25/24 at 5:44 pm to cwill
quote:
Do any have half their wealth based on a SPAC social media meme stock, which social media company has 5MM users?
Many of them have wealth that is bullshite for other reasons.
But if the SPAC stock is worth zero and he's only worth $3.25 billion, who gives a frick?
He likely won't make $3B off of this, but I will be shocked if he doesn't clear $300-500 million off of this deal.
What if it's only $100 million? Or $50 million? What does that change?
Posted on 3/25/24 at 5:46 pm to Diseasefreeforall
quote:
he's gonna make billions dumping on some diehard greater fool supporters.
Well, yea.
Posted on 3/25/24 at 5:48 pm to boomtown143
I hope He sells the entirety of is interest to Twitter. Tomorrow
Posted on 3/25/24 at 6:48 pm to Bjorn Cyborg
quote:
What if it's only $100 million? Or $50 million? What does that change?
It will make Cwon't and any TDS sufferer very hsppy.
Posted on 3/25/24 at 6:53 pm to boomtown143
But I was told by the people on the news channel , He’s not a billionaire because he can’t come up with a half billion in cash . Fake news again? I’m so thankful Trump has exposed the true enemy of the people.
Posted on 3/25/24 at 6:53 pm to boomtown143
Democrats: "BUT HE DOESN'T HAVE $500 MILLION IN CASH HE MUST BE BROKE" 
Posted on 3/25/24 at 7:03 pm to Big Scrub TX
quote:its amazing how much net worth he lost being president. Most elected officials get rich. Apparently you prefer those types of grifters
Well, in 2016 he declared his net worth to be $10B. Financial assets have soared to staggering new heights in the interim. And now the "news" is that he's "up" to $6.5 Billion
Posted on 3/25/24 at 7:05 pm to UncleFestersLegs
Big Scrub is best ignored.
Posted on 3/25/24 at 7:05 pm to Bjorn Cyborg
quote:he's a piker compared to cwill
What if it's only $100 million? Or $50 million? What does that change?
Posted on 3/25/24 at 7:06 pm to boomtown143
quote:
Trump’s Net Worth Hits $6.5 Billion, Making Him One of World’s 500 Richest People
That is great and all, but does he have several months worth of cash on hand at all time?
Posted on 3/25/24 at 7:09 pm to BlackAdam
quote:
No dude. He is broke. He doesn't even have 500 million in cash, which of course is the only asset there is.
There is so much sarcasm in this thread I’m not sure who believes what.
Posted on 3/25/24 at 7:22 pm to boomtown143
Wait, I thought the proof that he was honest is that he was the only guy who got poorer after being President.
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