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Trump’s Net Worth Takes Roller Coaster Ride

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Image via Piaxabay

ANALYSIS – Trump lovers and haters are having quite the ride as Trump’s net worth seems to be on a rollercoaster.

The Wall Street debut of Trump Media & Technology Group (TMTG) – whose flagship product is the social media platform “Truth Social” – boosted Donald Trump’s stock on paper, but the value of his shares has since plummeted. (RELATED: Truth Social Co-Founders Sue Donald Trump)

Will Trump’s 2024 presidential campaign help boost his worth again?

As I recently wrote about, Trump’s net worth soared to at least $6.4 billion – up nearly $4 billion – last week after investors approved his social media company’s merger with Digital World. Tuesday, March 27, was its first day as an independently traded public company.

This briefly made the former president one of the 450 richest people in the world.

Even though Trump Media, which trades under the ticker DJT (Trump’s initials) is losing money and generating scant revenue, Wall Street had valued the company at as much as $11 billion based on the stock’s closing price Friday, according to Renaissance Capital.

By Monday afternoon that valuation tumbled to about $8.8 billion.

It closed at $48.66 per share, a 26.5% drop from its $66.22. The plunge came after Trump Media unveiled its 2023 results for the first time, revealing full-year revenues of $4.1 million on a net loss of $58.2 million.

Trump’s company has said it expects to continue losing money for a while, and at least one expert says it’s likely worth far less than the stock market suggests.

Trump, who owns 78.5 million shares in Trump Media, about 57% of all shares, saw his stake in the social media business fall in value by $1.4 billion. At Monday afternoon’s prices, that stake is now worth approximately about $3.8 billion. (RELATED: Wall Street Journal Rips Into Biden for Now-Infamous Tweet)

Trump’s nearly 79 million shares of Trump Media & Technology Group are now – by far – his largest asset, worth nearly twice as much as all his real estate, resort and cash holdings combined.

Meanwhile, CNN reported: “The problem for Trump Media is its main product — Truth Social — is shrinking.” It added “Monthly active US users on iOS and Android plunged in February to 494,000, down 51% year-over-year.”

“By comparison,” CNN noted, “X has 75 million monthly active US users. Even Threads has more than 10 times as many users as Truth Social.”

CNN continued:

While Trump Media made just $4.1 million in revenue in 2023, rival X (formerly known as Twitter) raked in more than 100 times that much — $665 million — in 2013, ahead of its initial public offering in November 2013. Twitter also generated just over $5 billion in revenue in the final year before it was taken private by Elon Musk.

In fact, Truth Social’s financials are comparable to that of The Messenger, the upstart digital news outlet that imploded earlier this year. Citing an investor deck, CNBC reported in January that The Messenger posted 2023 revenue of $3.8 million and a net loss of $43 million.

But this year may decide the future of Trump’s net worth, at least related to his media company. Matthew Kennedy, senior IPO strategist at Renaissance Capital said, according to CNN:

2024 is the make-or-break year for this company. For TMTG the thing that matters now is getting in front of the cash cannon that is the 2024 presidential election. And the company does have one notable advantage. Trump-backed super PACs have raised millions. Where do you think they’ll spend their digital ad buckets?

Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.

Liberal City Hit With Class Action Lawsuit Over Reparations Scheme

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A left-wing city council faces a class action lawsuit from concerned citizens over a scheme to give an average $25,000 in financial assistance to citizens based on their skin color.

The non-profit public interest law firm Judicial Watch announced in a statement a hearing in its “class action civil rights lawsuit filed against Evanston, Illinois, on behalf of six individuals over the city’s reparations program.”

“To date, Evanston has awarded over $6,350,000 to 254 individuals based on their race. The city must be stopped before it spends even more money on this clearly discriminatory and unconstitutional reparations program,” said Judicial Watch President Tom Fitton.

“The court ordered the in-person hearing for oral argument on Evanston’s pending motion to dismiss the lawsuit,” Judicial Watch reports.

Judicial Watch reports it “filed the lawsuit over the city’s use of race as an eligibility requirement for a reparations program, which makes $25,000 direct cash payments to black residents and descendants of black residents who lived in Evanston between the years 1919 and 1969.”

According to The New Republic, program will also reportedly give financial assistance to their descendants, who never experienced racism in Evanston.

Judicial Watch alleges “that the program violates the Equal Protection Clause of the Fourteenth Amendment to the U.S. Constitution.”

In its response to the city’s motion to dismiss, Judicial Watch states:

[T]he program’s use of a race-based eligibility requirement is presumptively unconstitutional, and remedying societal discrimination is not a compelling government interest. Nor has remedying discrimination from as many as 105 years ago or remedying intergenerational discrimination ever been recognized as a compelling government interest. Among the program’s other fatal flaws is that it uses race as a proxy for discrimination without requiring proof of discrimination. 

62% of Americans Want Hunter Biden Investigated – Real Focus Will be on Joe

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President Joe Biden hugs his family during the 59th Presidential Inauguration ceremony in Washington, Jan. 20, 2021. President Joe Biden and Vice President Kamala Harris took the oath of office on the West Front of the U.S. Capitol. (DOD Photo by Navy Petty Officer 1st Class Carlos M. Vazquez II)

ANALYSIS – Despite the still ongoing media-Big Tech-Democrat Party c*llusion to ignore, minimize or denigrate any calls to investigate H*nter B*den’s foreign business deals, Americans are increasingly supportive of the idea.

This is great news for the incoming Republican House Majority which plans to do just that.

The latest Rasmussen Reports survey found that a whopping 62% of Americans want H*nter Bi*en’s business dealings investigated, especially those with C*mmunist China.

Similarly, about 63% told Rasmussen that the H*nter B*den l*ptop computer is an important story.

Of course, out of this nearly 2/3 majority, Republicans and independent voters are the most eager for a thorough H*nter probe, and Democrats less so.

But the numbers should still be highly concerning to the White House and its apologists.

The Washington Examiner noted that:

…a majority joined Republicans in raising questions about H*nter B*den’s computer files and advice the president gave his son prior to scoring big money payoffs from his overseas businesses

The survey found the public is gobbling up stories in the media about H*nter B**en and that they are especially interested in those about his computer.

Conservative media covered the computer stories heavily, but only recently have the liberal media joined in drawing attention to the controversy.

The Examiner added:

Frustrated with the liberal media’s slow wake-up to the computer and H*nter B*den controversy, the new House GOP has promised to make a big deal out of probing the president’s son, and the poll of likely voters showed support for that move.

However, let’s be clear. This isn’t just an investigation into the President’s w*yward son. It is a much-needed investigation into the entire B*den family enr*ching themselves un*thically, if not ill*gally.

And the real focus is on the ‘B*g Guy’ – J*e Bid*n. 

As Spectrum News reported right before the GOP won control of the House:

GOP members of the Oversight and Reform Committee held a news conference Thursday in which they alleged, among other things, that Pre*ident B*den “personally participated in meetings and phone calls” regarding his s*n’s business exploits and that there was personal business conducted on Air Force Two while he was vice president. 

Rep. James Comer, R-Ky., who is poised to chair the panel beginning in January, called the president “chairman of the board” and a “partner with access to an office.” 

Republicans, who released an interim report Thursday, said they identified more than 50 countries where the B*den family, often led by H*nter B*den, sought business transactions.

“To be clear, J*e Biden is the b*g g*y,” Comer said. “This evidence raises troubling questions about whether President Biden is a national security risk and about whether he is compromised by foreign governments.”

Comer made it clear the investigation will focus on the  pr*sident, not his s*n.

“We’re not trying to prove H*nter B*den is a b*d actor,” he said. “He is. If anybody wants to disagree with that, there’s nothing we have to talk about. Our investigation is about J*e B*den. And we already have e*idence that would point that J*e B*den was inv*lved with Hu*ter Bi*en on this.”

Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.

Amanda Head: CNN Stabs Biden!

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Is the mainstream media finally waking up? Not so fast…

However, tensions between the press and the Biden administration are definitely heating up after what has been widely regarded as a friendly relationship…

Let Amanda explain the rising feud below:

Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.

Amanda Head: Sources Reveal When to Expect DeSantis’ 2024 Announcement

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America is waiting…

When will Florida Governor Ron DeSantis officially throw his hat into the ring for the 2024 Republican nomination? Sources close to the governor are spilling the beans…

Watch Amanda explain the situation below:

Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.

Amanda Head: Liberals and Their Lies on the 4th of July!

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Liberals just can’t help themselves…

Watch Amanda explain the controversy below:

Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.

Anti-War GOP Rep Gaetz Joins Forces with Far Left ‘Squad’

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Photo via Gage Skidmore Flickr

ANALYSIS – Bad idea. It was just a matter of time before the conservative Republican populists ranting against defending Ukraine and America’s so-called ‘forever wars,’ would join forces with the far left. 

Echoing Donald Trump’s language, Gaetz has said: “I sometimes feel as though I’m waging a forever war against forever wars.”

In this case, Rep. Matt Gaetz of Florida suggested left-wing Democrats and populist Republicans might join forces in opposing U.S. support for defending Ukraine against Russian conquest and ending U.S. military involvement in securing Somalia from ISIS.

But this doesn’t mean just allying with any left-wing congressional Democrats, it means radical members of “the Squad,” partly led by none other than Alejandra Ocasio-Cortez (AOC), the Socialist Democrat from New York.

While his War Powers measure proposed to remove U.S. troops from Somalia was rejected by a 219-vote margin in the House of Representatives on April 27, Gaetz said that he appreciated the contributions of several Democrats who backed his bill, including members of “the Squad.” 

It also means befriending Ilhan Abdullahi Omar, the infamous antisemitic Democrat from Minnesota.

As reported by The Daily Caller:

“[W]hile we disagree strongly on a variety of issues, I think there should be greater connectivity between the anti-war right and the anti-war left,” said Gaetz, naming Democratic Reps. Ro Khanna, Jamaal Bowman, and Ilhan Omar as his advisers on his recent measure. “I am grateful for the advice that I’ve gotten from [them on] war powers bills,” he said. He declined to say whether the two camps would unite to form a formal caucus in the House.

The mention of Omar as a confidant on a foreign policy issue comes despite Gaetz’s earlier positions. In February of this year, Gaetz voted “Yea” to remove Omar from the House Foreign Affairs Committee, the chamber’s chief panel on foreign policy issues, for statements that were allegedly antisemitic and trivialized the terrorist attacks on September 11, 2001, according to the text of the resolution.

It is doubtful Gaetz will win much support for his efforts. His resolutions to remove troops from Syria and Somalia were rejected by consistently large margins (165 GOP members voted against the recent resolution), and he hasn’t introduced any bills in this Congress to reform the 2001 Authorization for Use of Military Force (AUMF).

But it’s not just allying on ‘war powers.’  They have already allied elsewhere.

Earlier, Gaetz and AOC co-sponsored a bill to restrict members of Congress from owning or trading stocks.

Unlike military resolutions, this is something I may be able to support.

The New York Post reported: “When Members have access to classified information, we should not be trading in the stock market on it,” said Ocasio-Cortez. “It’s really that simple.”

“Members of Congress are spending their time trading futures instead of securing the future of our fellow Americans,” Gaetz said. “We cannot allow the Swamp to prioritize investing in stocks over investing in our country.”

I generally support restrictions on members of Congress trading stocks. But this bill may go a bit far, not allowing representatives to own any individual stocks. 

Prohibiting trading stocks while in office should be enough.

Still, this unsettling new left-right alliance may signal something else. 

Gaetz, Omar, and Ocasio-Cortez are in their 30s and 40s and seemingly want to burnish their reputations as lawmakers who are a new generation of politicians outside the Beltway.

What else might these folks start to agree on? When the young far left in America starts to join the far right, what comes next?

Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.

FBI Finally Raids Communist China’s Illegal Police Outpost in NYC

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ANALYSIS – The fight against China’s growing global network of illegal police outposts has finally heated up here in the United States with the FBI raiding the large Chinese station in New York City (NYC).

This is the mission the FBI should be focused on, rather than raiding pro-life activists or colluding with Big Tech to censor Americans.

I’ve written about these extraterritorial Chinese police stations several times, highlighting the ones in NYC, as well as those in Canada and Europe.

Beijing says these outposts aren’t doing any police work, only helping Chinese citizens abroad, but Chinese state media reports that they in fact “collect intelligence” and solve crimes far outside their jurisdiction.

But they do far more than that. 

They are accused of conducting illegal surveillance on legal U.S. residents and citizens of Chinese extraction and intimidating, threatening, and coercing them.

In some cases, they have reportedly even kidnapped people outside of China.

According to the New York Times (NYT), the FBI raided the suspected Chinese police outpost, hidden in New York City’s Chinatown last fall, seizing materials from one of the secretive operations for the first time.

The Chinatown outpost was on the third floor of a six-story office building on a busy street. It was raided by FBI counterintelligence agents working on a criminal investigation with the U.S. attorney for the Eastern District of New York.

Of course, as the NYT reports, the Chinese Embassy in Washington downplayed the outposts, claiming they are staffed by volunteers who help Chinese nationals perform routine tasks like renewing their Chinese driver’s licenses.

Despite the official Chinese denials, the NYT reports, “Western officials see the outposts as part of Beijing’s larger drive to keep tabs on Chinese nationals abroad, including dissidents. The most notorious such effort is known as Operation Fox Hunt, in which Chinese officials hunt down fugitives abroad and pressure them to return home.”

In October, prosecutors in Brooklyn — the same office that searched the New York office — charged seven Chinese nationals with harassing a U.S. resident and his son, pressuring the man to return to China to face criminal charges.

As reported by the NYT, “It’s outrageous that China thinks it can come to our shores, conduct illegal operations and bend people here in the United States to their will,” FBI Director Christopher Wray said in 2020.

At least 102 such outposts have been documented in 53 countries in recent months by the human rights group Safeguard Defenders. Wray said in November that he’s “very concerned” about the outposts, which he called “police stations.”

“It’s a long-arm power to show their own citizens inside China that their government is so strong,” said Safeguard Defenders researcher Chen Yen-ting. “We have the power to reach globally, and even if you go out, you’re still under our control.”

These outposts are ostensibly set up by local Chinese municipalities or regions. At least four Chinese localities — Fuzhou, Qingtian, Nantong and Wenzhou — have reportedly set up dozens of foreign police outposts in Japan, Italy, France, Britain, Germany, Hungary, the Czech Republic, and other nations.

These don’t include the ones in Canada and the U.S.

Let’s hope the FBI keeps up the pressure on illegal Chinese police activity in the U.S., and the State Department gets involved in controlling any Chinese entities and personnel it has allowed to enter and operate on U.S. soil.

Communist Chinese influence and subversion in the U.S. is the greatest domestic threat we face, not Americans exercising their constitutionally protected right to free speech.

Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.

Amanda Head: Lesson NOT Learned – RNC Still Blowing Your Money On Flowers!

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Will they ever listen? The Republican National Committee (RNC) has been caught red-handed yet again…

Watch Amanda explain the controversy below:

Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.

Democrats Want To Legally Protect Pedophiles In Minnesota

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Arrest image via Pixabay

ALERT – Could your state be next? In yet another insane proposal in the left’s radical ‘gender bending’ agenda, a bill in the Minnesota Legislature is changing the definition of “sexual orientation” to include pedophilia.

This is an extreme and radical move that would make pedophiles a legally protected class of people in the state. And it isn’t getting the attention it deserves.

This sickening bill, promoted by 17 of the state’s Democrats, is working its way through the legislature.

It has a growing list of sponsors and has already had its “second reading,” which means it can appear on the floor for a vote at any time.

Does this make the state’s Democrats “sexual groomers” of children?

It seems so.

It’s also a natural, if perverse, continuation of the extreme ideology which makes gender identity and transgenderism a priority for the left.

The bill shows how their slippery slope works at the state level, which eventually moves to other states, and then to the federal government.

First, you create a law that makes sexual orientation a protected class by prohibiting discrimination of any kind based on sexual orientation. In Minnesota, as in many other places, that law has been around for a while.

Laws like that are used to support countless far-left lawsuits, discriminatory quotas and all the Diversity, Equity and Inclusion (DEI) initiatives that are wreaking havoc across America.

Then you quietly amend that law to remove a provision that excludes pedophilia as a legitimate sexual orientation.

In this case, they have deliberately stricken the provisions of the current law that specifically carved out pedophilia from the definition of sexual orientation.

The current law says: “Sexual orientation does not include a physical or sexual attachment to children.” [emphasis added]

But in the new Democrat proposal, that line will be removed, essentially making pedophiles a protected class along with transgender people and every other sexual orientation the left can invent.

Pedophiles will also get the same legal protections against discrimination as gays and lesbians, who legitimately deserve it, and be lumped together with them in the same legal category.

While this amendment to current law won’t make pedophilia “legal” (yet) in Minnesota, discrimination against pedophiles will be prohibited if this bill becomes law.

What does this actually mean?

David Strom explains in Hot Air that:

You will be subject to lawsuits if you discriminate against pedophiles. You have to hire them, house them, and serve them in your restaurant regardless of your objection to their evil desires. They will have more rights than you. Because they are pedophiles.

Strom adds: “anybody who wants to opt out of affirming crazy people will be turned into targets of lawsuits and harassment.”

And legalization will come soon after. He continues: “…the next stop is going to be explicitly legalizing pedophilia.”

Strom notes how this part of the left’s slippery slope works, too:

Once the Rubicon of declaring children mature enough to make lifetime medical decisions at ages as young as 8 it makes no sense to assert that they aren’t mature enough to engage in “consensual” relationships. If you can get permission from a child to sterilize and mutilate them, why stop there? They have been essentially declared adults in sexual matters.

He concludes, not wrongly: “The Democrat Party is becoming the party of sexual groomers. It really is that simple.”

Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.