1 mo. ago • 98%

Trump Media reports $16 million loss for quarter as revenue falls

www.cnbc.com Trump Media reports $16 million loss for quarter as revenue falls

83 comments

Chapter 11 is Donny’s favorite number:

Taj Mahal, Trump University/Castle/Shuttle/Steaks/Vodka/Ice/Magazine, and now Trump Media.

128
- He's just gonna dump the stock and make out like bank leaving the rest to flounder.
  
  33
  
  I think there’s a lock out period for him following the merger but I don’t know for how long. There’s still time for the stock (DJT) to plummet, with any luck.
  
  7
- Wow, you actually read Art of the Deal ?
  
  17
  
  I think he keeps bankrupting his companies so that he can update the list of his businesses in the book, creating new editions every few years. If you have an old copy, just burn it because the new ones are so much better with the newest info. In fact, after burning the old one, wait a bit for the new one to drop. He's clearly getting ready to update the new one with DWAC and Trump Media.
  
  11
  
  Even Trump never read that piece of shit.
  
  2
- Excuse me! Trump Vodka, the world's finest super premium Vodka, still exists in Israel!
  
  13
  
  It’s so fitting. Vodka is the cheapest alcohol you can make. It’s basically watered down ethanol. Overpriced vodka is so on-brand for a Trump. And he still couldn’t make a profit.
  
  I wonder why it still exists in Israel. I bet he sold the rights to it there and has nothing to do with the business.
  
  10
You mean advertisers aren’t climbing all over themselves to buy spots on it? Maybe the new streaming service will save the day.

/s

61
- He could try suing companies for not running ads. It seems to be working for Elon.
  
  56
  
  I’d heard that he was going to do that, but is he and it’s working!?
  
  8
doesnt he have a 450m bill due soon?

e. just checked, not til after an appeal in sept.

49
- The one he owes the lady that sued his balls off? Or the Russians?
  
  11
  
  this is the whole 'i lied about everything i own in new york' thing
  
  16
Iirc they only brought in like 300k in revenue. Somebody fact check me but it was definitely between 300k-400k in revenue. So that net loss is fucking insane.

23
- It in the article
  
  Trump Media, which owns the Truth Social app often used by the former president, also reported revenue of just $836,900 for the quarter ending June 30, a 30% drop from the same period in 2023
  
  19
  
  800k. I was a bit off
  
  13
Another example of his awesome business skills that he'll be able to transfer to running the government. \s

16
Just hang in there guys and keep spending. Remember it takes all the money to make all the money 💰💰! Wink wink.

15
That's a lot of losses for someone who only cosplays as a billionaire

13
And not a single one of his unbelievably stupid fans will sell their stock in it until he cashes out in a couple months. The absolute first second he's allowed to sell his stake, that shit's going to crater hard with all his Stans losing their life savings.

The real treasure was all the grifts he did along the way.

12
Personally, I love this for ALL of them.

11
When is he allowed to sell his stake? I seem to recall there was a time limit after going public.

9
- As soon as he sells it's going to signal that he is done with the platform to all his "investors", and will likely trigger a selloff until it craters and his base loses their money (not good to do until at least after the election).
  
  7
  
  You make a good point, and yet I wouldn’t be shocked if many people were still rabid fans even if he sold it at their expense. There’s a lot of weird idolization around him, and seems like the kind of thing many of his fans would laud as his great business acumen, ignoring the negative impacts it had on them.
  
  2
  
  Yeah but then he might be left unable to cash in on this grift. Though it will make his coup harder to pull off if his followers hate him. Could go either way.
  
  2
- Permanently Deleted
  
  3
- Would anyone with enough money to afford it be interested in owning that sinking ship?
  
  2
  
  It won't be sold as a single block -- the shares will just be placed on the market.
  
  I expect that he'll sell for as a little as is necessary.
  
  1
I’m not usually this petty, but… haha, get fucked

9
Wow, what a loser.

6
Loser.

5
- I mean, Trump is doing very well out of this. The people who listened to him and bought stock in the thing are another story.
  
  4
  
  I think we're all hoping DJT stock loses most of its value before he cashes out. And the probability increases if he looks like he will not be president. So much of his future is tied up with him winning. What a shame...
  
  1
Need Riker playing ~~sad violin~~ up in here

Edit: it's playing a sour note

Edit #2:

4
- Hmm best I've got is a video of a biker playing a violin: https://m.youtube.com/watch?v=rK4J-GM5Mw0
  
  I am sad I wasn't able to find Riker playing a violin though, now I need Riker playing a sad saxophone up in here.
  
  4
- @FlyingSquid@lemmy.world usually has the Riker trombone queued up.
  
  1
  
  This doesn't feel Rikery enough. Trump is still going to make a shitload of money from this.
  
  4
this seems like the perfect time to launch a streaming service, those things tend to be very profitable

2
He’s a really great business man.

2
Excellent.

0
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