Home Blog Page 54

Report: Trump’s Truth Social Lost $58 Million in 2023

    By
    Madeleine Jackson
    -
    1
    Image via Piaxabay

    Trump might be banking on his now-public company becoming his cash cow but financial filings are showing a concerning big picture.

    Last week, the parent company of Trump’s Truth Social media company went public as the likely Republican nominee seeks to pay off numerous legal bills.

    Mediaite has more:

    Trump holds upwards of 78 million shares in the firm, officially dubbed Trump Media & Technology Group, that are now worth billions of dollars after the initial round of sales of company stock.

    But according to the company’s SEC filings, the fundamentals do not come remotely close to justifying the stock price. In fact, it brough in just $4.1 million in revenue in 2023 and suffered a net loss of over $58 million. A majority of those losses are attributable to its debt, although its operating costs were still approximately four times higher than its revenue stream.

    Trump is not allowed to sell his shares for six months, and some analysts have predicted that a Trump-led sell-off will trigger a major dip in stocks.

    Former New York Assistant Attorney General Adam Pollock has argued that the company is “essentially worthless” and Fox Business host Stuart Varney predicted that the stock would crash if it looks like Trump is going to lose his bid to retake the White House.

    “I think it’s almost like a meme stock, and that’s the way it’ll play out,” said Varney. “It’s a bet on whether Trump wins or loses in November of this year. If he loses, I think the stock goes way down. If he wins or looks like he’s going to win, I think the stock does well because then Truth Social will do well.”

    Report: Trump’s VP Search Heats Up

    By
    Madeleine Jackson
    -
    1
    Gage Skidmore Flickr

    Who will be Donald Trump’s running mate?

    While the search is expected to take a few more months the former President has been in near-constant talks with his inner circle.

    Trump’s aides are vetting potential vice presidential candidates at Mar-a-Lago as the former president floats a list of names in private conversations.

    Politico has more:


    Susie Wiles, a top adviser to Trump, is leading a close-to-the-vest process of narrowing a list of around a dozen lawmakers and other Republican personalities under consideration, according to multiple people familiar with the process. The campaign has already hired an outside firm to vet candidates and prepare research documents. Former first lady Melania Trump, who influenced Trump’s decision to select Mike Pence in 2016, has been kept apprised. And Trump’s son Donald Trump Jr. said he speaks with his father frequently about who is in contention.

    “He’s going to draw this out ‘Apprentice’-style,” said one person close to the Trump campaign who was granted anonymity to speak freely.

    The former president has said his top priority is picking someone “who is going to be a good president … in case of emergency.”

    The names under consideration continue to be in flux, according to multiple people familiar with the list, who describe it as being in “pencil, not pen.” But it includes Sens. Scott of South Carolina, Vance of Ohio, Katie Britt of Alabama and Marco Rubio of Florida, as well as Govs. Noem of South Dakota, Sarah Huckabee Sanders of Arkansas and Doug Burgum of North Dakota. Donalds, the Florida representative, and Gabbard, the former Hawaii representative, among others, are also being considered or have been floated by Trump.

    During one private meeting several weeks ago in Palm Beach, Florida, he went down the list of possible running mates with visitors, including one member of Congress, offering commentary on each. He spoke highly of Stefanik and Gabbard, according to a person with knowledge of the conversation and granted anonymity to speak freely. And he was dismissive of Scott, suggesting the senator may not be up to the job of being president, if needed.

    “He’ll ask you about people,” Sen. Tommy Tuberville (R-Ala.), said in an interview.

    The senator cautioned that those names being promoted by Trump allies or political consultants should be treated skeptically. “All I can tell you is, if you’re hearing any names, it ain’t going to be them. It’s all propaganda.”

    Senior White House adviser Kellyanne Conway suggested Trump should choose someone who can help him win and govern.

    The VP is the most important decision, but he is widely focused on personnel all around,” she said.

    Obama Has ‘Grave Concern’ Biden Will Lose To Trump

      By
      Madeleine Jackson
      -
      1
      The White House, Public domain, via Wikimedia Commons

      Democrats are losing faith in Joe Biden…

      According to a recent New York Times report, President Barack Obama was has “grave concern” that President Joe Biden will lose to former President Donald Trump in November, which has caused him to get involved.

      With just over seven months until the presidential election, Biden has been making regular calls to Obama in an effort to discuss the 2024 race for the White House, according to The NYT. Obama, though, is reportedly making calls of his own to Biden’s chief of staff Jeff Zients and other top aides to discuss strategy.

      The former president’s involvement reportedly comes from a place of fear that his former vice president will lose his reelection bid in 2024, an aide told the White House. Obama has “always” been worried about Biden’s reelection chances, the aide told The NYT.

      Because of his concerns, Obama is prepared to “eke it out” to help Biden in what some are expecting to be a close election, the aide told The NYT.

      On Thursday, Obama attended a star-studded Democrat fundraiser in New York City to support President Biden.

      RNC Chair Lara Trump Releases New Single

      By
      Madeleine Jackson
      -
      1
      Image via gage Skidmore Flickr

      The Trump family is full of talents.

      On Thursday night, RNC chair Lara Trump released her second single and teased the release of several more songs coming soon.

      According to Mediaite, Trump—who made headlines with her 2023 cover of Tom Petty’s “I Won’t Back Down”—spontaneously dropped yet another single, “Anything is Possible,” at midnight on Thursday evening.

      “A little something I had fun with over the winter,” wrote Trump in a social media post announcing the song. “And a few more too that I’ll save for a future date, special for my YUGE fans in the liberal media [winky face emoji].”

      In the uplifting single about faith, which is currently available to stream on Spotify and Apple Music, Trump sings, “I’ve had my ups and downs, cried when no one’s around. Still I gotta put my game face on, even when I’m not feeling strong. No matter how it seems, I wouldn’t trade a thing, ’cause all of it makes me who I am.”

      She continues in the chorus, “Don’t think, just jump, you can’t give up. Know that anything is possible. Have faith, believe, just trust, you’ll see, anything is possible.”

      It is unclear whether Trump currently has an album in the works or whether she has just produced a collection of singles.

      Earlier this month, Trump was elected to serve as co-chair of the Republican National Committee following Ronna McDaniel’s exit.

      Report: Trump Set To Become One Of World’s Most Wealthy People

      By
      Madeleine Jackson
      -
      0

      Former President Donald Trump will become one of the 500 richest people in the world after his media company begins public trading on Tuesday, according to a report by Bloomberg News.

      The Daily Caller has more:

      Trump, the presumptive Republican presidential nominee, established the Trump Media & Technology Group (TMTG) in February of 2021 to develop an alternative social media website, following his removal from Twitter after the events of Jan. 6, 2021, with the new website “Truth Social” being unveiled in 2022. On Monday, TMTG completed a merging process with DWAC, a special-purpose acquisition corporation, that would allow the company to be publicly traded on the National Association of Securities Dealers Automated Quotations stock exchange, also known as the “Nasdaq” exchange, with Trump’s 58% stake in the company being valued at $3.9 billion, according to Bloomberg News. 

      The share price of DWAC increased by 35.22% to close at $49.95 on Monday when the closing of the deal was announced, with the new company retaining the TMTG name and changing its stock ticker to Trump’s initials, “DJT.” The process will increase Trump’s net worth to $6.4 billion, according to Bloomberg.

      Trump’s net worth, which until recently has primarily comprised real property of The Trump Organization, has been subject to varying estimates. The Australian Financial Review estimated his net worth to be $9.8 billion following the TMTG acquisition process, while Forbes maintains his net worth at $2.6 billion as of Monday — making him the 1,265th richest person in the world — with its highest-ever estimate for his net worth being $4.5 billion in 2016.

      Truth Social has reported many losses since its creation, with Trump being the primary user of the platform with the largest number of followers. He often announces major legal and campaign decisions on the platform, similar to his use of Twitter during his presidency.

      Trump will not be able to sell his stake in TMTG for at least six months following the commencement of trading

      MyPillow Evicted From Warehouse

      By
      Madeleine Jackson
      -
      2
      Mike Lindell via Gage Skidmore Flickr

      A Minnesota court has ordered MyPillow to be evicted from the warehouse it formerly used.

      The Hill has more:

      The Minneapolis warehouse is approximately 125,000 square feet and has been leased to Lindell since December 2015. The lease agreement between Lindell and the landlord, First Industrial LP, has been amended twice. It lasts 10 years, seven months and 20 days, and the monthly rent was $57,794.12, according to the eviction complaint.

      According to the complaint, dated March 7, Lindell did not make rent payments for February and March 2024. Since it is not the first time MyPillow failed to pay its rent on more than two occasions in the previous 12-month period, per the lease agreement, the landlord is entitled to retake possession of the premises.

      As of Wednesday, Lindell did not answer the eviction complaint or appear at the scheduled hearing, forcing the judge to order the eviction. He confirmed to the AP that MyPillow owes around $217,000 to the Delaware-based company for the rent.

      Lindell said the company no longer needed the space and removed its property from the warehouse last June before subleasing it to another company through December. The company backed out in January and “left us all stranded.” MyPillow offered to find another tenant, but the landlord wanted to take the warehouse back, he told the newswire.

      MyPillow CEO Mike Lindell faces multiple defamation lawsuits from two voting machine companies, after he spread lies that the 2020 presidential election was fraudulent and stolen from former President Trump. In February, a federal judge ruled he must pay $5 million in an election data dispute case.

      Judge Knocks Attorney Over 2020 Election

      By
      Madeleine Jackson
      -
      0
      Gavel via Wikimedia Commons Image

      On Wednesday, a California judge recommended disbarring pro-Trump attorney John Eastman for his role in former President Trump’s efforts to overturn the 2020 election.

      According to The Hill, State Bar Judge Yvette Roland found John Eastman culpable on 10 of the 11 counts filed by the California State Bar last year. The state bar sought to strip Eastman’s license to practice law in the state due to his “false and misleading statements” about purported election fraud and his role in “provoking” the Jan. 6, 2021, Capitol riot.

      “In view of the circumstances surrounding Eastman’s misconduct and balancing the aggravation and mitigation, the court recommends that Eastman be disbarred,” Roland wrote in a 128-page decision.

      The judge also recommended that Eastman be ordered to pay $10,000 in sanctions to the State Bar of California Client Security Fund.

      Roland wrote in her decision that Eastman showed an unwillingness to admit to “any ethical lapses” in his behavior.

      “This lack of remorse and accountability presents a significant risk that Eastman may engage in further unethical conduct, compounding the threat to the public,” the judge wrote.

      Eastman led the legal strategy attempting to change the election results in several key 2020 states, including by using slates of alternate electors to swing the election’s outcome in Trump’s favor. The plan also relied on then-Vice President Mike Pence throwing out the real electors for the “fake” ones.

      Former Trump Primary Rival Makes Decision On No Labels Bid

      By
      Madeleine Jackson
      -
      3
      Maryland GovPics, CC BY 2.0 via Wikimedia Commons

      Former New Jersey Governor Chris Christie (R) is officially shutting the door on speculation he may mount a third-party challenge for the White House.

      Christie has been considering a possible third-party run for the White House as some suggested he run on a unity ticket put forward by No Labels. However, on Wednesday the Republican said he would be staying out of the 2024 race,

      “I appreciate the encouragement I’ve gotten to pursue a third-party candidacy,” Christie said in a statement, posted on X. “I believe we need a country that once again feels like everyone has a stake in what we’re doing and leadership that strives to bring people together, instead of using anger to divide us.”

      “While I believe this is a conversation that needs to be had with the American people, I also believe that if there is not a pathway to win and if my candidacy in any way, shape or form would help Donald Trump become president again, then it is not the way forward,” he added.

      Christie’s decision comes about a week after he said on “The Axe Files” podcast that he was not ruling out running on a potential No Labels ticket in November. He still expressed hesitancy toward the idea at the time saying that “there are a number of hurdles to get over before I would actually consider running as a third-party.”

      Christie, in a separate statement, said he was sad to hear of former Sen. Joe Lieberman’s (I-Conn.) death, which was announced on Wednesday. According to The Hill, Lieberman, the co-founder of No Labels, had previously floated Christie to run on the top of the organization’s ticket.

      “I last spoke to him on Monday and he was fully engaged in a conversation of how to overcome the toxic political environment in our country. His whole life was dedicated to putting country before party in all he did,” Christie said on X, formerly Twitter.

      Report: Kari Lake To Forfeit Defense In Defamation Case

      By
      Madeleine Jackson
      -
      0
      Kari Lake speaking with supporters at a "Stand for Freedom" rally at the Embassy Suites by Hilton Scottsdale Resort in Scottsdale, Arizona. [Photo Credit: Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons]

      On Tuesday, Kari Lake’s legal team moved to forfeit a defamation case against her.

      According to The Hill, Maricopa County Recorder Stephen Richer (R) sued Lake last year in his personal capacity, claiming Lake defamed him after she refused to concede her 2022 Arizona gubernatorial defeat and alleged election fraud.

      The lawsuit claims Lake consistently and systemically lied about Richer’s actions as recorder, causing him to receive harassment and numerous threats to his life. Richer added that Lake claimed without evidence that he stuffed ballot boxes with 300,000 invalid votes and used his role as recorder to make the ballot unclear for voters.

      “For the last seven months, I have been subjected to constant harassment, intimidation, and threats to my and my family’s lives because the defendants in this case were spreading falsehoods about me, my work, and our elections,” Richer said in a statement when the lawsuit was filed last year.

      The court filing Tuesday does not contest Richer’s claims, and requests an accelerated hearing to determine damages. 

      Richer held up the filing as an admission of guilt.

      “Won’t defend / can’t defend,” he wrote in a post on X, formerly Twitter. “I’ll get my due. But not the millions of people she lied to.” 

      “Not the thousands of people who donated ‘to continue the fight.’ Not the people who have gone to jail because they so strongly believed Kari’s lies,” he continued. “Those people won’t get their due.”

      Lake pushed back on the filing as a rejection to participate in what she described as a “political witch hunt” and a “frivolous” lawsuit, refusing to admit culpability.

      “Washington, D.C. operates on blackmail and bribes. Since they can’t blackmail or bribe me, they’ve resorted to filing a punishing lawsuit to try to stop me and bleed me dry,” she said in a video message. “They’re threatening to take everything I own. What they don’t realize is even if they leave me, my husband and children homeless and penniless, that won’t stop us.”

      “By participating in this lawsuit, it would only serve to legitimize this perversion of our legal system and allow bad actors to interfere in our upcoming election,” she continued. “So I won’t be taking part.”

      Trump To Visit Green Bay On Day Of Wisconsin Presidential Primary

        By
        admin
        -
        0
        Gage Skidmore Flickr

        Former President Donald Trump is scheduled to visit Green Bay, Wisconsin, on Tuesday, April 2, the same day as the Wisconsin presidential primary.

        Preparations are underway for a 5 p.m. rally at the Hyatt Regency’s KI Convention Center, a sprawling 80,000-square-foot venue in the heart of downtown Green Bay, capable of accommodating almost any crowd.

        Naturally, Biden for President Wisconsin Press Secretary Timothy White tried to steal Trump’s thunder by issuing a scornful statement to WLUK Green Bay:

        After many visits to Wisconsin from President Biden, Vice President Harris, and Democratic leaders, Donald Trump finally decided to make time to visit our state in between his busy schedule of hiding out in his country club, calling for cuts to Social Security, and calling into white supremacist radio shows to spew antisemitism. This November, Wisconsin will send him packing just like we did in 2020.

        Tickers are available here. Attendees can register for up to two tickets per mobile phone number. All tickets are available on a first-come, first-serve basis.

        Republished with permission from Official Trump Tracker.

        1...535455...194Page 54 of 194
        © Great America News Desk 2022