Only thing more pathetic than Elon Musk is Donald J Trump.
Putin’s broke bitch
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?
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.
The tech isn’t what’s valuable
Saying this right before my EQ pirate server gets inundated with over a dozen users.
…I should make a instance
Seems like a good way for people to slip money into Trump’s accounts without the regulatory oversight of a direct gift or donation.
That’s one perspective. Another is that he’s tapping into a rich vein of WSB-tier suckers.
I’m not sure there are that many suckers. Trump’s campaign has bled his supporters pretty hard, they don’t have billions to invest. And serious speculators ought to know it’s not worth shit, unless they’re just riding the idiot wave. I suspect there’s something fucky going on.
Trump’s campaign has bled his supporters pretty hard
Trump got his $175M civil bond paid by a single California billionaire auto-loan shark, Don Hankey. I just don’t think you understand how deep the well goes, when it comes to right-wing suckers and fascist fellow-travelers.
I suspect there’s something fucky going on.
I have no doubt there’s fuckery going on. Probably layers of fuckery, as speculators pile on top of boiler room penny stock hustlers to goose the price of this golden turd. But if there’s one thing I’ve learned from the Bitcoin con-job, its that if you inflate an asset’s value high enough, you can eventually off-load it on the public sector by claiming “this will create economic growth”.
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’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
Well, their grandkids may be able to put it together. They themselves still consider it magic…
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
Now just boot him out of the country and we’ll call it good
Why stop there? Boot him out of the planet
What about into the planet? Maybe if we start sacrificing billionaires to random volcano gods, things will finally change somewhat. (And yeeting bloated oligarchs into volcanoes is a lot cheaper and more environmentally friendly than launching their corpulent butts into space.)
Even better
Send the billionaire class to space and don’t let them back
Oh no! Anyway.
Why was he on it in the first place?
He’s the Nepo baby of a slumlord.
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.
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.
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
I can’t wait to see the unhinged word vomit against Bloomberg after this.
The woke radical leftist publication Bloomberg you mean?
The WOKE FASCIST MARXIST RADICAL LEFTIST FAILING SO-CALLED PUBLICATION BLOOMBERG, you mean?
Sad!
I can’t see him saying Marxist, not intentionally anyway
I like the lists of Billionaires, they will be handy come the revolution.
They’re usually just called menus.
See… people always talk about eating the rich. I’m not convinced they will taste good or that it’s worth the time and the fuel to cook them.
We really need to add a B to the beginning of that phrase. Beat the rich. Over and over again. With huge clubs.
I’m coming around to yeet the rich…into volcanoes…with ritual and style for good measure.
Eating them isn’t about nutrition or taste; It’s about sending a message. Eat a few of them publicly, slowly, and starting at the feet while keeping them alive. Prove it can be done, and that we’re willing to do it. The rest of them will get the message, and straighten out real fucking quick.
The ultimate goal is the redistribution of wealth. Simply beating a billionaire or two isn’t going to accomplish that. No amount of public beating will be brutal enough, because it’s just violence. At a certain point, it’s just your stock standard gore-porn horror movie footage, which we’ve all seen a hundred times. Billionaires can ignore it, because once the initial rage subsides they can run some astroturfed PR campaigns and get back into peoples’ good graces.
Eating them though? That’s a powerful message, because it goes beyond simple anger. It’s violence with intent and purpose behind it. It’s violence fueled not by rage, but by contempt and dehumanization. It’s saying “we don’t even see you as people anymore. You’re nothing to us but prey. A starving dog is loyal to nobody but itself, and you’ve kept us hungry for far too long.”
They are plump, well fed and have been massaged daily.
People pay through their nose for those things with cows.
Still waiting for it…
Like a hit list?
A shit list, Bobandy.
More like a menu.
Nom nom nom
These lists just make the problem worse.
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.
He was never a billionaire
If you own 90k sqft of real estate in lower Manhattan, you’re a billionaire.
The issue is he doesn’t really own them anymore. He’s leveraged to shit, so he’s probably got negative 90k sqft in Manhatten
He’s leveraged to shit
I believe the properties are officially owned by his son-in-law, who is all juiced up from Saudi money and well within the billoinaire wealth range. But being a part of the Kushner family, with access to a near limitless pool of cash/credit, makes you at least as much of a billionaire as anyone on the Forbes List for all practical purposes.
Trump’s biggest problem isn’t cash flow, its that nobody (reputable) wants to do business with him anymore because he reflexively stiffs them all.
he’s probably got negative 90k sqft in Manhatten
I remember Hillary Clinton bemoaning her $25M in campaign finance debt following the 2016 election cycle. Credit lines that large don’t get handed out to just anybody. They’re what let you do crazy ass shit like buying Twitter at its current market cap because you went on a posting bender over the weekend.
He’s still a billionaire, just not one of the Top 500 yall.
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.
Honestly I’d be surprised if he was even close to being rich. The guy takes out loan after loan after loan in larger and larger amounts. He’s most likely living on borrowed money based upon what he says his properties are worth.
He may not be rich on paper, but, unless he is put in prison, he will die in luxury.
I’ve yet to see evidence proving he was ever a billionaire in the first place.
👐”Everyone’s saying it, folks!”👐
At first I was going to say “if you say it often enough people will believe it”. But then why don’t people believe he grabbed em by the pussy? 🤬
Those stupid hands. Like a dimestore corner magician with a mail-in pamphlet’s training.
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.
The problem is he can’t liquidate his assets that easily as most of his assets are in property. And when you sell property they have to go through an independent valuation and that may present a problem since he knows he lied about their value.
The actual value of his real estate is probably a lot less than the much quoted amount. I bet he doesn’t have a clue how much his properties are actually worth.
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.
[ 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.
I like that I initially thought you linked RDDT.
It’s not doing much better, lol
I’ve been watching it for the lulz.
It’s great to see, but in the context of the above post, Spez and the CFO dumped hundreds of thousands of shares right after the IPO.
Trump… did not.
So you can argue that spez did not come out of that a loser. You can’t make that argument about Trump.
I don’t think Trump put any of his money into Truth Social. So whatever money he does make when he’s able to dump his shares will be pure profit for him. So he’s also not coming out a loser.
But it’s still funny because he probably thought he had all this money and now is decreasing every day.
I will argue that spez absolutely did come out as a loser. A rich loser, but a literal bag of crap. Not unlike the other one, so he knows what he can aspire to become.
I think he’s definitely one of those people who thinks that his reputation doesn’t matter as long as he’s rich. When has he really ever cared much about what people think of him?
True, just like Trump. It’s a shame they don’t feel it, they should.
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.
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.
aaaaaand POST!
