Trump Media & Technology Group, the parent company of Truth Social, recently celebrated its success with a party at Trump’s Mar-a-Lago club in Palm Beach. Despite the company’s stock price dropping nearly 60% since its initial public offering, the former president and other company executives marked the occasion by touting their achievements. Trump highlighted the company’s lack of debt and substantial cash reserves, signaling its ability to withstand challenges in the market.
Guests at the event included Trump Media CEO Devin Nunes, board members Linda McMahon, Kash Patel, Donald Trump Jr., and Roger Stone, among others. The party featured entertainment from Lee Greenwood, who performed “God Bless the USA.” The choice of Mar-a-Lago as the venue raised questions about any payments by Trump Media for the use of the space, though details on this matter remain undisclosed.
Trump has always been known for his entrepreneurial pursuits, including selling various products like gold-colored Trump sneakers, NFTs, and “God Bless the USA” Bibles. Sales of the Bibles have reportedly been strong, with Trump mentioning the success of the product during the celebration. Additionally, Trump emphasized the impact of Truth Social in spreading his political messaging, with a high success rate in endorsing political candidates through the platform.
Trump’s ownership stake in DJT is estimated to be worth around $2 billion, with the potential for growth based on future stock performance. Despite this, his existing shares are currently locked up, necessitating an alternative source of income in the meantime. Trump’s continued reliance on his real estate holdings, such as Mar-a-Lago, underscores his financial strategy moving forward.
In a surprising turn of events, Trump Media announced plans to issue an additional 146 million shares, leading to further declines in the company’s stock price. This news has left some investors feeling uncertain about the company’s future prospects, especially given the recent volatility in its share price. Trump’s leadership and the direction of the company moving forward will be closely scrutinized as investors assess the impact of these developments on their investments in Trump Media.
