Trump has made a fortune since he left office. And unlike the Democrats who get pilloried for making money from speeches and books, Trump has made his money on the basis of speculation that he’s going to be running again and is supposedly building a media company to help him do it.
It may not be working out but he’s lining his pockets anyway:
Donald Trump, master of reinvention, has a new title: tech entrepreneur. It’s a stretch for the 75-year-old, who doesn’t even use email, preferring instead to scrawl notes in marker. But he doesn’t mind jumping into ventures in which he has little previous experience—and this gig should prove far more lucrative than the presidency. In fact, it has already boosted his net worth by $430 million, according to our math, helping lift his fortune from $2.4 billion a year ago to $3 billion today.
Banned from Twitter, the former president announced in October that he was creating his own social media platform, Truth Social, through the Trump Media and Technology Group, which uses his rapidly appreciating Palm Beach club, Mar-a-Lago, as its address. The app became available in February. Trump now has 835,000 followers—less than 1% of his previous total on Twitter. He has posted only once: “Get Ready. Your favorite President will see you soon!”
Investors don’t seem to care. Trump Media plans to merge with a SPAC that retail traders are buying like crazy, boosting its shares from $10 to more than $50. Based on clues buried in regulatory filings, Trump probably owns at least 50%. We estimated the value of the shares Trump should eventually receive at $10 apiece, reflecting the discounted rate that a handful of smart-money investors recently agreed to pay to jump into the frenzy.
I don’t know why investers are so high on this piece of trash (the ompany and the prson) but apparently they think he can’t lose, just like his cult followers do.