Share Price Plummets

Share price plummets

Trump's Truth Social burns through money at a rapid pace - share price collapses

The IPO of Truth Social has made Donald Trump around four billion US dollars richer in one fell swoop - on paper. But the setback came on Easter Monday.

Observers are talking about a bubble along the lines of the GameStop share.

Weak business figures

This Monday, however, the company behind the Truth Social network presented its business figures - and the good mood could be over again. The figures were anything but encouraging.

As a result, TMTG's share price plummeted by 21.5 per cent. On paper, the largest shareholder Donald Trump lost more than one billion US dollars within a day. The value of his shares fell from USD 4.88 billion to USD 3.83 billion, as reported by the Guardian, among others.

Trump holds a stake of almost 60 per cent in the company.

The former US president's media company posted a loss of a good 58 million dollars for its last financial year on a turnover of around four million dollars. Interest expenses accounted for a large part of this, with operating costs totalling around 16 million dollars.

In terms of revenue, TMTG's figures show an improvement compared to the previous year; in 2022, these totalled just under 1.5 million dollars. At that time, the company had reported an annual profit of 50.5 million dollars thanks to a tax credit.

Cult of personality drives many share buyers

TMTG operates Trump's Truth Social, which competes with services such as X (formerly Twitter) for users and attention. The published figures suggest that the social media service is still struggling to attract advertisers. In the fourth quarter, TMTG even generated less revenue than in the previous quarter, at around 750,000 dollars.

It doesn't have to go bankrupt, but a successful future is more of a pipe dream than a good business model

Everything trump touches turns to gold nonsense to a burning of money but not his money.

Mod

A myth (more rarely mythus, obsolete mythe, plural myths, from ancient Greek μῦθος, "sound, word, speech, tale, legendary story, tale", Latin mythus) is in its original meaning a narrative. In religious myths, the existence of humans is linked to the world of gods or spirits.

Myths claim validity for the truth they assert. This claim to truth has been criticised since the Greek Enlightenment by the pre-Socratics (e.g. Xenophanes, around 500 BC). For the Sophists, myth stands in contrast to logos, which attempts to justify the truth of its assertions through rational evidence.

In a broader sense, myth also refers to people, things or events of high symbolic significance or simply a false idea or lie*.

For example, the adjective "mythical" is often used in colloquial language as a synonym for "fabulous-vague, fabulous or legendary".

Wikipedia

How can it be that a man who describes himself in public as a successful businessman worth billions cannot pay a financial penalty and that someone wants to vouch for him?

Trump can't pay 450 million dollars

In February, former US President Trump was fined 450 million dollars in New York for fraud. Now his lawyers have announced: Trump cannot pay. According to his lawyers, former US President Donald Trump is currently unable to guarantee payment of a fine of more than 450 million dollars from a fraud trial. Despite great efforts and negotiations with around 30 companies, it has not yet been possible to obtain such a guarantee, according to a letter from his legal team to the competent court in New York. Several US media outlets unanimously quote from the letter, arguing that it would be "practically impossible" to make the payment on time.

Trump has received a refusal from 30 bail companies, according to a letter from his lawyers to an appeals court on Monday. Many would not provide collateral in excess of 100 million dollars and would not accept real estate as collateral.

Forbes magazine estimates the property entrepreneur's total assets at 2.6 billion dollars. Trump recently stated that his cash assets totalled around 400 million dollars.

"I thought he was a billionaire? Is he lying to the public or the court?" Law professor Andrew Weissmann poses the question of questions on X in relation to Donald Trump's liquidity: How much is there to the image of the self-made billionaire?

How much money does Trump himself have?

Last year, Trump testified in court that he had a cash fortune of around 400 million US dollars. The latest legal documents indicate that he does not have anywhere near that amount of money at his disposal, Professor of Business Law Will Thomas from the University of Michigan. However, he and the Trump Organisation would have significantly more assets at their disposal. His largest asset holdings are tied up in property. If Trump is unable to pay in other ways, he could be forced to sell some of his properties, according to Professor Thomas. His lawyers want to prevent this and warn that Trump would have no way of buying them back if he is successful with his appeal.

Where could the money come from?

Without liquid funds, there are two options for Trump to prevent enforcement for the time being.

Guarantees: A guarantee would probably be the only solution for him. This would allow him not to have to sell anything for the time being. At the same time, guarantors require collateral and often only accept cash or shares in return - not property. Trump also needs to find someone who is prepared to guarantee an enormous sum of over 550 million dollars.

Donations or campaign funds: He is also receiving support from private sources, but the sums are nowhere near enough. Trump supporters are collecting money for him on the internet, with over a million private donations having been collected so far.

Again and again, it is also about money from Trump's election campaign. Federal law prohibits Trump from using campaign funds for personal purposes. However, it is legally unclear to what extent campaign money from political action committees (PACs) and funds from the Republican National Committee (RNC) fall under this. But even these funds would be far from sufficient.

If he loses the aura of the successful billionaire self-made businessman, he also loses his aura of success.

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This kind of legal action would not only be a serious blow to Trump's finances, but also to his image, as he always praises himself as a brilliant businessman.

The biggest bankruptcies* of Donald Trump

It was always visible to everyone, but as long as you can keep generating capital, the myth can be maintained

Trump Ice

In 1995, Donald Trump founded the Trump Ice Natural Spring Water brand (Trump Ice for short) - his own brand of bottled drinking water. However, the sales figures were not particularly good. After missed payments to the producer and a lawsuit against Trump Ice in this connection, production was discontinued. Today, only bottles with collector's value are sold on eBay and the like.

Trump Steaks

Donald Trump founded his own steak company in 2007. The company was to be dedicated exclusively to selling his favourite food and running a steakhouse in Las Vegas. The prices for the steaks varied between 199 and 999 US dollars. Despite such bargain prices, the company had to close in the same year. The steakhouse was shut down after the health department found 51 health code violations.

Trump University

In 2005, Donald Trump opened "Trump University" - a distance learning university specialising in the real estate industry that was not officially recognised as a university. Enrolment cost up to 35,000 US dollars, but many of the course instructors, who were allegedly selected by Donald Trump himself, often did not have the appropriate qualifications. The school had to be closed down for good in 2011. Thousands of students filed a lawsuit against the former US president, who relented in 2017 and offered a settlement despite his supposed innocence. This was confirmed by the US Court of Appeal in 2018 and secured compensation of USD 25 million for the more than 4,000 ex-students.

New Jersey Generals

In 1984, Donald Trump bought his own football team, the New Jersey Generals. However, they did not play in the famous National Football League, the NFL, but in the smaller offshoot, the United States Football League (USFL). Just one year later, the team was bankrupt and the entire United States Football League with it. Trump had tried with all his might to bring about a merger of the UFSL with the NFL. This prevented Donald Trump from taking over a team in the NFL.

Trump Vodka

According to Donald Trump himself, he does not drink alcohol. However, this did not stop him from launching his own premium vodka on the market in 2005. However, production was discontinued in 2011.

Trump Magazine

Donald Trump made several attempts to land a hit in the luxury magazine segment. After two failed attempts, he launched the quarterly "Trump Magazine" in 2007, which covered topics such as yachts and other toys for the rich. However, the magazine was cancelled in 2009.

Gotrump

In 2006, Donald Trump ventured into a search engine for luxury travel. It included private jets, tickets for exclusive events and supposedly personal recommendations and travel tips from Donald Trump. However, it was shut down again after just one year due to poor reviews.

Trump: The Game

Trump tried twice to establish himself on the board game market with the board game "Trump: The Game", but failed twice. The game is, of course, about money. The game first came onto the market in 1989, but was discontinued shortly after its release. In 2005, he tried a new edition in collaboration with Parker Brothers, but this version also failed.

Trump Shuttle

In 1989, Trump bought his own airline, "Trump Shuttle". The airline was to fly business people back and forth between New York, Boston and Washington. The interior of the Boeing 727 was elegantly furnished with maple panelling and chrome seat belt buckles, and gold fittings were installed in the toilets. However, the luxury was too expensive for the passengers. Three years later, the over-indebted company was sold to US Airways.

Trump Entertainment Resorts

With the company "Trump Entertainment Resorts", Donald Trump operated several casinos in the gambling metropolis of Atlantic City, including: Trump Taj Mahal, Trump Plaza and Trump Marina. All were closed between 1999 and 2016, and the company filed for bankruptcy three times between 2004 and 2014. In 2014, debts are said to have totalled around 1.8 billion US dollars. Trump himself withdrew completely from the company in 2016 and sold his shares to billionaire Carl Icahn.

Trump Mortgage

In April 2006, Donald Trump announced the founding of his own mortgage bank, Trump Mortgage, at a press conference. He predicted a rosy future for his endeavour and that the bank would soon become the largest lender for home loans in the USA. However, as with "Trump Magazine", the timing was not exactly fortunate. Just one year later, the former US president's mortgage bank had to file for insolvency.

Forget women in music history who were the pioneers of rock'n'roll, Rosetta Tharpe.

Rosetta Tharpe was a pioneer of rock'n'roll. With her guitar playing and stage presence, she inspired many young men who shaped a new era of pop music in the 1950s. Despite this, the African-American musician is almost forgotten today.

In the 30s and 40s, the gospel singer with the electric guitar was a true rock star in the USA. Many of the young men who established the new style of music in the early 50s with throaty vocals, hard riffs and expressive body movements heard and admired her, explains Gayle Wald.

Courage in times of segregation

The American and English scholar published the biography "Shout Sister Shout" about Rosetta Tharpe in 2007. During segregation in the USA, the African-American woman showed courage, says Wald. For example, Rosetta Tharpe took the Jordenaires - a white vocal group - on tour as support.

"Rosetta Tharpe was clever in the way she tried to deal with segregation. The Jordenaires, for example, had to prove themselves to an African-American audience and live up to their expectations. In the 50s, she had a female singing group, The Rosettes, to accompany her. They were young women. Rosetta was in her mid-40s at the time and she made sure that these young women never had to present themselves in a patronising or stereotypical way on stage. For example, when appearing on American television, they were to stand in a backdrop with a hay cart like in the countryside and the women were to wear headscarves. For Rosetta Tharpe, this represented the stereotype of the black woman as a slave in the fields; it had nothing to do with emancipated, creative female artists. She rejected the headscarves for her singers and prevailed."

On stage with Little Richard

In his memoirs, Little names Richard Tharpe as one of his great musical role models. He met his idol at the age of 14. And Tharpe - impressed by the teenager's musical talent - invited him to come on stage at one of her concerts, says Wald:

"She got him on stage and paid him to perform. It meant a lot to him that he was recognised by someone like her and encouraged to carry on. And who knows, maybe they both saw each other as sexually transgressive performers. Even if Rosetta wasn't bisexual or had relationships with women. The fact that her guitar playing was perceived as masculine changed Rosetta's relationship to femininity from people's point of view. She was queer in many different ways for her audience."

Empty church and anonymous grave

On 9 October 1973, Rosetta Tharpe, aged just 58, died of a second stroke. She had previously had a leg amputated due to diabetes. The church was only half full at her funeral - and she was buried in an anonymous grave.

Sister Rosetta Tharpe (Manchester, 1964)

Patriotism is when love of your own people comes first; nationalism, when hate for people other than your own comes first.

Charles de Gaulle

It is easy to hate and it is difficult to love. This is how the whole scheme of things works. All good things are difficult to achieve; and bad things are very easy to get.

Confucius

It's interesting how a bunch of American Christians see the only one as a saviour who, purely because of his Nazism, vanity and greed, should there be a hell, gets a free ticket to hell just for that.

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the Antichrist with unnaturally dyed hair the colour of hellfire*

The beast was authorised to make great speeches and blaspheme God in the process. It was allowed to exert its influence for 42 months. 6 When the beast opened its mouth, it insulted God. It mocked his name, his sanctuary and all who dwell in heaven. 7 The beast was allowed to fight against people,...**

* The authors were completely possessed for 4 minutes when they translated it, but after they confessed and an exorcism was performed, they were able to return to athletic faithlessness.

** However, this really comes from one of the many Bibles. For those who really believe and have no idea of Bible history there are really many Bible translations and summaries in a new version.

In addition, the hotel Bible is donated by the constructor of the hotel.

The good ol’ days.

The scars we carry show the pain we have felt, those scars we carry tell of the healing that has happened to us.

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Abuse of power

On a global, social and individual level - and in different contexts in each case - abuse of power refers to behaviour that is based on the illegitimate use of power. The term refers to an accusation that is often used in combination with other terms such as corruption, arbitrariness, greed or thirst for recognition, some of which refer to the possible underlying motives. Various academic disciplines, preferably political and social sciences, but also many others such as economics or sexology, and depending on the context, possibly also criminology or police science, deal with the possibly very different consequences of abuse of power. As a rule, however, there is no definition of the term in either a scientific or other context.

Wikipedia more or less

How this picture came together with the gif can be clearly understood from the previous facts.

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We have no intention of influencing or even insulting anyone here.

That has probably already been done by the actual facts of the people involved. They insult human rights and don't even apologise, even though they pretend to believe.

@just-wanna-be-good

I like what I see, I want what I like, I own what I want and what I own loves me.

For lizzy

Who doesn't just want to be good?

I also use women as a sex object; maybe I'm kinky. However, I like to talk to them as well.

Oliver Reed

Are vampires kinky? I didn't know.

Roger Ebert

There's never any time for anything that's remotely kinky, and even when I try to send some kinky stuff, it always gets shut down.

Guy Sebastian

I paint stupid things; that's what I do. I can't think of anything more boring than a really beautiful thing. You have to mess it up. There has to be something a little kinky to keep their attention.

Billy Al Bengston

The magic of things is that in the end they are all fleeting, you don't really own anything like your own arm. Those we believe we possess possess us, especially our passions.

Passion that creates suffering, a fusion of longing coupled with desire to forget.

It's not me who controls passion, it controls me. Every dom of self-importance and self-indulgence thinks he leads the sub, but far from it, it leads him.

Once someone has awakened the desire in you, they can lead you on a lead even if they have the collar on at the end of the lead.

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Part of the game is that you only ever sell the illusion, never yourself. A concept of self-promotion with a passion.

You only ever look at the moon but you never set foot on it. I like what you do, it's like a shop full of anticipation for all people who like to look at the moon.

Don't get me wrong it really is a pleasure to look at you but a coffee in a kinky bar in reality is always my first choice.