God I hope I’m wrong on this so please correct me if I am. But……
Trump’s new publicly traded company seems less like a business venture and more like a legal scam to circumvent campaign contribution laws. Here’s how it could work.
Let’s say I buy $1,000,000 of DJT, the new stock for the Trump Media Group. I don’t care what the price is, I just buy $1M worth of stock. In six months (or sooner if his fake “Board of Directors” allow it), Trump, who owns the majority share of the company, sells $1M worth of his $5B company stake. He can use it for legal fees, to post bond, or to fund his campaign. It’s completely unrestricted money at this point. And later, if my $1M of stock becomes worthless, and it will because we all know this isn’t a real business, I won’t care because the whole point was to donate to Trump. And better yet, I can sell my worthless shares and I now have a $1M short term capital loss that offsets my income for the year — Yep, tax deductable.
Net result? I donated $1M to Trump and I get to write it off.
The scammy grift continues.
My thoughts here are my own and I haven’t read this anywhere else. But God I hope I’m wrong.