Trump Sues Truth Social Company Co-Founders to Zero Them Out. Trump has sued two co-founders of his newly public TMTG, claiming they set the company up improperly and shouldn’t get any stock. In their own suit, they say Trump was planning to seek millions of extra shares, diluting their stake.

https://www.bloomberg.com/news/articles/2024-04-02/trump-sues-co-founders-of-truth-social-media-company-over-shares

by mafco

6 comments

  2. I don’t know why they’re surprised; if you lie down with dogs, you get up with fleas. Especially lying dogs…

  3. More on this subject from other reputable sources:

    —
    – Associated Press (A-): [Donald Trump’s Truth Social lost $58 million in 2023](https://apnews.com/article/donald-trump-truth-social-2023-losses-6a6504f244c3130e102d11c40ad0d7ff)
    – The Hill (B): [Trump Media shares plunge after company reports $58 million loss in 2023](https://thehill.com/business/4567808-trump-media-shares-plunge-after-company-reports-58-million-loss-in-2023/)
    – Washington Post (B): [Trump’s Truth Social lost $58 million in 2023, despite $8 billion valuation](https://www.washingtonpost.com/technology/2024/04/01/truth-social-trump-media-results/)
    – PBS (A-): [Trump Media stock falls more than 21 percent after company discloses $58 million loss for 2023](https://www.pbs.org/newshour/politics/trump-media-stock-falls-more-than-21-percent-after-company-discloses-58-million-loss-for-2023)

    —
    [__Extended Summary__](https://www.reddit.com/r/newswall/comments/1btihqy/) | [FAQ & Grades](https://www.reddit.com/r/newswall/comments/uxgfm5/faq_newswall_bot/) | I’m a bot

  4. This is hilarious. By they time these guys can actually sell their shares this company will be worth a fraction. But make no mistake trump is going to immediately offload the majority of his shares once his six month window is over and leave all the investor bag holders behind for a couple years before the company goes bankrupt.

  5. Maybe it’s not such a good idea to go into business with grifters and con men?

    Hilarious. A few days out of the chute and this whole enterprise looks like a joke. Which it is. No one is really expecting to make money either from the stock or the business itself. Except the lawyers maybe, if they don’t get stiffed.

Leave a Reply