Getty Imagesonald Trump announced plans Wednesday to turn a new firm, named Trump Media and Technology Group, into a publicly traded business by merging it with a special purpose acquisition company, or a SPAC. If the deal goes through, it could allow Trump’s company to access about $290 million in cash, which it could then use to build a Twitter knockoff and launch additional media ventures. Investors are thrilled with the idea—shares of the SPAC jumped more than 350% on Thursday.
It didn’t take long for Donald John Trump to betray his shareholders, acting in ways that benefitted himself but harmed the larger business. Trump Hotels and Casino Resorts started with just one Atlantic City casino, but Trump personally held another two outside of the firm. Less than a year after taking the company public, he used it to buy one of his two other casinos, the debt-burdened Taj Mahal, in a deal that valued his stake at $40.5 million.
Trump retained his role as chairman of the company, which changed its name to Trump Entertainment Resorts, but he lost his job as chief executive. As part of a new services agreement, the firm still paid him about $2 million a year, more than the replacement CEO collected in annual salary. Trump also got the ability to nominate several board members. His 25-year-old daughter, Ivanka Trump, joined the board in 2007. For her services, Ivanka received $150,000 of cash annually.
He didn’t have president title then.
His Truth Social will go bankrupt but he will make a lot of money by scamming supporters to send money. He has repeatedly pulled off this scam by profiting from his many bankruptcies.
Why you even talking about this person really.
I have an idea. 80% increase in shear capacity of concrete slab using ECC concrete with a thickness of 3 cm. I wanted to know who is interested in investing in this idea? the prototype is built and tested(If you know someone who is investing in ideas,please introduce me to them)
If you flip the system and make millions off of a bankruptcy. It's a win.
The ones who should be ashamed are those that do propaganda 24/7 and thus create hate and division among people
This article makes me super bullish $DWAC Everyone fails winners never quit 💪🏽
Your boy Biden has an approval rating in the 30s dare you tweet about you 🤡s
$dwac 📈📈📈
What a negative headline...phycologist have a name for such a negative headline...so what, the man never gives up...many people fail in life at many things, Jordan failed at basketball early on, but he never gave up...most are failing now, should we all just give up on life?
I’d like to see a list of things Trump has touched that didn’t fail
They seem to gorget it But at the same time, there was an oil crisis occuring at the same time
Everybody is gonna eat shit for while (even trumpists) because of the HUGE inflationary period incoming. Your 50k savings are gonna be halved (if you have any), pensions are gonna take a massive hit. But he is cashing in.
Hahahahahaha fuck Donald trump! POS
Yeah he ruined it and his father use to bail him out and lend him money when he messed up to fix the problem and he would that up too his father was the business man
Haters
I'm still smiling! It's been so beneficiary trying someone new. The step take couldn't be much better. So glad I came across Geoffreypreud
Forbes need clicks. This is exactly what the Ryan Long bit was about
OMG no way! This world would be a much better place if every failure was punished! If anyone fails, they should give up forever! I agree with your Forbes! Let's build back better!
He actually looks good.
Forbes dunking on Trump now? Unexpected 🤔
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Source: Forbes - 🏆 394. / 53 Read more »