Trump is booted off Bloomberg’s Billionaire list after Truth Social stock price dives
Trump is booted off Bloomberg’s Billionaire list after Truth Social stock price dives
Compared to its peak late last month, the stock has now dropped more than 50 per cent
I don't care about a list of billionaires, but I just know this guy cares about being on it, so that makes me happy
He was never a billionaire
[ womp womp ]
It's still got a $4.5B market cap, though.
I work at an energy company that has quite literally over a billion in physical infrastructure in the ground right now and its worth less than this glorified Mastadon instance.
He's baaaaaack!
Its almost time.
The market cap for Truth Social is $4.5B, which is fucking bananas when you consider that this is a home-rolled Mastadon instance that hasn't even been patched since 2022.
I'm not saying Trump is a billionaire, or even a good businessman, but holy shit how crazy is it that people are trading $35/share for something their grandkids could put together over a long weekend of free time?
The price is based on the size of the cult of delusional racists who worship Donald, it has little to do with the tech. Imagine how much you could charge for ivermectin ads if you can guarantee they'll be in front of an audience of cultists!
I hardly have to imagine. As a Texas resident with a few friends who own horses, I can say firsthand that the ivermectin lie has cleared stocks from shelves for gullible rubs that was much needed for actual horse medicine
I’m not saying Trump is a billionaire, or even a good businessman, but holy shit how crazy is it that people are trading $35/share for something their grandkids could put together over a long weekend of free time?
I think you are interpreting this wrong... people are paying $35 a share because one of two reasons:
- they are completely deluded and think of Trump as a literal messiah
- they think $35 a share for a complete slut that would do anything but with the powers of the US Presidency is a bargain
It also took in a grand total of $4M in revenue last year. Not profit, revenue. Like, I think Nvidia is insanely overvalued based on AI hype, but they do have $61B in revenue on a $2,240B market valuation. Even that's out of wack, but the ratio there is orders of magnitude better than Truth Social.
Efficient Market Hypothesis is one hell of a drug.
The tech isn’t what’s valuable, it’s the market reach. That said, the market reach is also shit.
What do you mean? They are the perfect target audience for lots of things, all in one place. Reverse mortgages, penis pills, VPN services (since you can't discretely view porn in Texas without it), etc.
The tech isn’t what’s valuable
Saying this right before my EQ pirate server gets inundated with over a dozen users.
Well, their grandkids may be able to put it together. They themselves still consider it magic...
holy shit how crazy is it that people are trading $35/share for something their grandkids could put together over a long weekend of free time?
When it comes to humans, sometimes they focus more on style, than the substance.
You'd think they'd be more careful with their money, especially these days when there is so little of it to go around, but no, their favorite star tells them otherwise.
...I should make a instance
These lists just make the problem worse.
And it's going to go down further. The only question is: How many billions and billions and billions will Elon pay for it?
Remember how idiot kids were banding together to send Kylie Jenner money just to her from $900 million to billionaire status? Their moron parents are the ones buying Trump shoes and bibles.
$$$
Taylor Swift
.
.
.
Donald Tump <——
$$
And to think... He usually has to pay for a woman to beat the shit out of him...
I bet I can find plenty of women who will do it for free, but just this once, they'll probably suspend their usual rules about safe words.
Tres Commas
I’d take Russ over Trump any day.
Why was he on it in the first place?
He haa been lying about his net worth since the 80's. It's all "self-reported" wealth.
He inherited $400 mil from his father and pissed it all away. The rest has been un-repaid loans and one-sided partnerships. He has never actually been a billionaire at all, unless you count debt as net worth.
He's the Nepo baby of a slumlord.
Bruh. Russia will bail out his shitty scam stock just when he’s ready to sell.
Im not sure Russia has this capability anymore but plenty of other foreign actors do.
They can just put it on musk’s to do list.
Now just boot him out of the country and we'll call it good
Why stop there? Boot him out of the planet
Only thing more pathetic than Elon Musk is Donald J Trump.
That is going to hurt his overblown ego more than anything else. He is deadly afraid that his supporters might finally realize that the wannabe-emporer is indeed naked.
Putin's broke bitch
Oh no! Anyway.
Hey this photo makes him look like Jimmy Carter!....no wait, no, it's just this cat scratching my left eye and bird poop on my right eye. The bird poop makes his hair white. It's okay I just need to spray soda into both eyes for 15 minutes as described by the CDC for these sort of specific visual hallucination about Jimmy Carter. Very similar to the one about Jim Cary the day when I met putin in his drainage pipe. I thought he was so funny but it was just a bee in my ear and his thick russian phlegm. But that's a story for another phlegm... nothing rhymes with phlegm that I know of, have you noticed?
Your comment here is sort of a ‘Jackson Pollock’ of comments, sort of a ‘frog in a blender’, if you will.
Thanks, I try my best. Hopefully between now and voting day we don't get bamboozled into voting Trump. I feel like we could just all vote now, what's the point of waiting months to allow this asshole to try something else?
aaaaaand POST!
He's still a billionaire, just not one of the Top 500 yall.
Edit: did anyone read the article?
On Tuesday afternoon, Forbes had Mr Trump as the 653rd richest person in the world with a net worth of $4.8bn.
I see your point, but Forbes methodology for verification isn't flawless.
If the 4.8 billion dollar value is based on truth social, that number is crashing. If it's based on his other assets, I don't have much faith in that value either.
To say Trump exaggerates about the value of his assets would be an understatement. He makes up huge numbers that are nowhere close to reality. The big numbers are used to his advantage when it suits him, and much smaller numbers are reported to the IRS.
A quick search on golf courses came up with this story, though there are many more.
The point is, his actual net worth is a bit of a mystery. If the truth came out, I very much doubt it would be anywhere close to 4.8 billion.
Mr. Trump? A multi-billionaire? The guy who can't secure a $440m bond? That Mr. Trump? We talking about the same guy here?
There's a reason he can't secure that bond, you know. If you total up all of his asset valuations, he's a billionaire. If you subtract all of the liens, mortgages, and encumbrance he has on those assets, he's basically broke.
To be fair, and I have no idea why I'm being fair to that jackass, I think I would struggle to put together cash that's 10% of my net worth, given that most of my net worth is in my home and retirement accounts. I know the math gets a lot different as your net worth goes up, and the biggest difference is he could liquidate assets that he doesn't need to survive. But still I'm sure it'd wind up costing him more than the $500M or so on paper for the bond.
Hell, given that his "job" is just to be rage tweeting and encouraging racism, if he genuinely thinks he's gonna weasel his way out of the charges, its probably more cost effective to go to jail for a bit for attention than to sell something on short notice.
Love watching him squirm though.
If you count all of the money that people actually have over the course of their life they probably do have well over a million dollars just not at the same time.
Calculating someone's worth minus their debts is meaningless.