• 9point6@lemmy.world
    link
    fedilink
    arrow-up
    261
    ·
    9 months ago

    I don’t care about a list of billionaires, but I just know this guy cares about being on it, so that makes me happy

        • Flying Squid@lemmy.world
          link
          fedilink
          arrow-up
          14
          arrow-down
          1
          ·
          9 months ago

          See… people always talk about eating the rich. I’m not convinced they will taste good or that it’s worth the time and the fuel to cook them.

          We really need to add a B to the beginning of that phrase. Beat the rich. Over and over again. With huge clubs.

          • PM_Your_Nudes_Please@lemmy.world
            link
            fedilink
            arrow-up
            10
            ·
            8 months ago

            Eating them isn’t about nutrition or taste; It’s about sending a message. Eat a few of them publicly, slowly, and starting at the feet while keeping them alive. Prove it can be done, and that we’re willing to do it. The rest of them will get the message, and straighten out real fucking quick.

            The ultimate goal is the redistribution of wealth. Simply beating a billionaire or two isn’t going to accomplish that. No amount of public beating will be brutal enough, because it’s just violence. At a certain point, it’s just your stock standard gore-porn horror movie footage, which we’ve all seen a hundred times. Billionaires can ignore it, because once the initial rage subsides they can run some astroturfed PR campaigns and get back into peoples’ good graces.

            Eating them though? That’s a powerful message, because it goes beyond simple anger. It’s violence with intent and purpose behind it. It’s violence fueled not by rage, but by contempt and dehumanization. It’s saying “we don’t even see you as people anymore. You’re nothing to us but prey. A starving dog is loyal to nobody but itself, and you’ve kept us hungry for far too long.”

          • Honytawk@lemmy.zip
            link
            fedilink
            arrow-up
            2
            ·
            8 months ago

            They are plump, well fed and have been massaged daily.

            People pay through their nose for those things with cows.

    • WarmSoda@lemm.ee
      link
      fedilink
      arrow-up
      32
      ·
      9 months ago

      I can’t wait to see the unhinged word vomit against Bloomberg after this.

      • Tyfud@lemmy.world
        link
        fedilink
        arrow-up
        1
        ·
        edit-2
        8 months ago

        The issue is he doesn’t really own them anymore. He’s leveraged to shit, so he’s probably got negative 90k sqft in Manhatten

        • UnderpantsWeevil@lemmy.world
          link
          fedilink
          arrow-up
          2
          arrow-down
          1
          ·
          8 months ago

          He’s leveraged to shit

          I believe the properties are officially owned by his son-in-law, who is all juiced up from Saudi money and well within the billoinaire wealth range. But being a part of the Kushner family, with access to a near limitless pool of cash/credit, makes you at least as much of a billionaire as anyone on the Forbes List for all practical purposes.

          Trump’s biggest problem isn’t cash flow, its that nobody (reputable) wants to do business with him anymore because he reflexively stiffs them all.

          he’s probably got negative 90k sqft in Manhatten

          I remember Hillary Clinton bemoaning her $25M in campaign finance debt following the 2016 election cycle. Credit lines that large don’t get handed out to just anybody. They’re what let you do crazy ass shit like buying Twitter at its current market cap because you went on a posting bender over the weekend.

          • Flying Squid@lemmy.world
            link
            fedilink
            arrow-up
            7
            ·
            9 months ago

            It’s great to see, but in the context of the above post, Spez and the CFO dumped hundreds of thousands of shares right after the IPO.

            Trump… did not.

            So you can argue that spez did not come out of that a loser. You can’t make that argument about Trump.

            • Akasazh@feddit.nl
              link
              fedilink
              arrow-up
              7
              ·
              8 months ago

              I will argue that spez absolutely did come out as a loser. A rich loser, but a literal bag of crap. Not unlike the other one, so he knows what he can aspire to become.

              • Flying Squid@lemmy.world
                link
                fedilink
                arrow-up
                5
                ·
                8 months ago

                I think he’s definitely one of those people who thinks that his reputation doesn’t matter as long as he’s rich. When has he really ever cared much about what people think of him?

            • SpaceCowboy@lemmy.ca
              link
              fedilink
              arrow-up
              4
              arrow-down
              2
              ·
              8 months ago

              I don’t think Trump put any of his money into Truth Social. So whatever money he does make when he’s able to dump his shares will be pure profit for him. So he’s also not coming out a loser.

              But it’s still funny because he probably thought he had all this money and now is decreasing every day.

    • UnderpantsWeevil@lemmy.world
      link
      fedilink
      arrow-up
      7
      arrow-down
      3
      ·
      8 months ago

      It’s still got a $4.5B market cap, though.

      I work at an energy company that has quite literally over a billion in physical infrastructure in the ground right now and its worth less than this glorified Mastadon instance.

  • UnderpantsWeevil@lemmy.world
    link
    fedilink
    arrow-up
    37
    arrow-down
    2
    ·
    8 months ago

    The market cap for Truth Social is $4.5B, which is fucking bananas when you consider that this is a home-rolled Mastadon instance that hasn’t even been patched since 2022.

    I’m not saying Trump is a billionaire, or even a good businessman, but holy shit how crazy is it that people are trading $35/share for something their grandkids could put together over a long weekend of free time?

    • jkrtn@lemmy.ml
      link
      fedilink
      arrow-up
      26
      ·
      8 months ago

      The price is based on the size of the cult of delusional racists who worship Donald, it has little to do with the tech. Imagine how much you could charge for ivermectin ads if you can guarantee they’ll be in front of an audience of cultists!

      • UnderpantsWeevil@lemmy.world
        link
        fedilink
        arrow-up
        17
        arrow-down
        1
        ·
        8 months ago

        I hardly have to imagine. As a Texas resident with a few friends who own horses, I can say firsthand that the ivermectin lie has cleared stocks from shelves for gullible rubs that was much needed for actual horse medicine

    • exanime@lemmy.world
      link
      fedilink
      arrow-up
      11
      ·
      8 months ago

      I’m not saying Trump is a billionaire, or even a good businessman, but holy shit how crazy is it that people are trading $35/share for something their grandkids could put together over a long weekend of free time?

      I think you are interpreting this wrong… people are paying $35 a share because one of two reasons:

      • they are completely deluded and think of Trump as a literal messiah
      • they think $35 a share for a complete slut that would do anything but with the powers of the US Presidency is a bargain
    • frezik@midwest.social
      link
      fedilink
      arrow-up
      10
      ·
      8 months ago

      It also took in a grand total of $4M in revenue last year. Not profit, revenue. Like, I think Nvidia is insanely overvalued based on AI hype, but they do have $61B in revenue on a $2,240B market valuation. Even that’s out of wack, but the ratio there is orders of magnitude better than Truth Social.

    • KnowledgeableNip
      link
      fedilink
      arrow-up
      8
      ·
      8 months ago

      Seems like a good way for people to slip money into Trump’s accounts without the regulatory oversight of a direct gift or donation.

        • Regrettable_incident@lemmy.world
          link
          fedilink
          arrow-up
          4
          ·
          8 months ago

          I’m not sure there are that many suckers. Trump’s campaign has bled his supporters pretty hard, they don’t have billions to invest. And serious speculators ought to know it’s not worth shit, unless they’re just riding the idiot wave. I suspect there’s something fucky going on.

          • UnderpantsWeevil@lemmy.world
            link
            fedilink
            arrow-up
            3
            arrow-down
            1
            ·
            8 months ago

            Trump’s campaign has bled his supporters pretty hard

            Trump got his $175M civil bond paid by a single California billionaire auto-loan shark, Don Hankey. I just don’t think you understand how deep the well goes, when it comes to right-wing suckers and fascist fellow-travelers.

            I suspect there’s something fucky going on.

            I have no doubt there’s fuckery going on. Probably layers of fuckery, as speculators pile on top of boiler room penny stock hustlers to goose the price of this golden turd. But if there’s one thing I’ve learned from the Bitcoin con-job, its that if you inflate an asset’s value high enough, you can eventually off-load it on the public sector by claiming “this will create economic growth”.

    • Ghostalmedia@lemmy.world
      link
      fedilink
      English
      arrow-up
      5
      ·
      8 months ago

      The tech isn’t what’s valuable, it’s the market reach. That said, the market reach is also shit.

      • JasonDJ@lemmy.zip
        link
        fedilink
        arrow-up
        1
        ·
        8 months ago

        What do you mean? They are the perfect target audience for lots of things, all in one place. Reverse mortgages, penis pills, VPN services (since you can’t discretely view porn in Texas without it), etc.

      • UnderpantsWeevil@lemmy.world
        link
        fedilink
        arrow-up
        1
        arrow-down
        1
        ·
        8 months ago

        The tech isn’t what’s valuable

        Saying this right before my EQ pirate server gets inundated with over a dozen users.

    • Treczoks@lemmy.world
      link
      fedilink
      arrow-up
      5
      ·
      8 months ago

      Well, their grandkids may be able to put it together. They themselves still consider it magic…

    • Cosmic Cleric@lemmy.world
      link
      fedilink
      arrow-up
      2
      ·
      8 months ago

      holy shit how crazy is it that people are trading $35/share for something their grandkids could put together over a long weekend of free time?

      When it comes to humans, sometimes they focus more on style, than the substance.

      You’d think they’d be more careful with their money, especially these days when there is so little of it to go around, but no, their favorite star tells them otherwise.

  • bstix@feddit.dk
    link
    fedilink
    English
    arrow-up
    21
    ·
    9 months ago

    And it’s going to go down further. The only question is: How many billions and billions and billions will Elon pay for it?

    • radicalautonomy@lemmy.world
      link
      fedilink
      arrow-up
      8
      ·
      9 months ago

      Remember how idiot kids were banding together to send Kylie Jenner money just to her from $900 million to billionaire status? Their moron parents are the ones buying Trump shoes and bibles.

      • frezik@midwest.social
        link
        fedilink
        arrow-up
        2
        ·
        edit-2
        8 months ago

        I bet I can find plenty of women who will do it for free, but just this once, they’ll probably suspend their usual rules about safe words.

    • Burn_The_Right@lemmy.world
      link
      fedilink
      arrow-up
      9
      ·
      8 months ago

      He haa been lying about his net worth since the 80’s. It’s all “self-reported” wealth.

      He inherited $400 mil from his father and pissed it all away. The rest has been un-repaid loans and one-sided partnerships. He has never actually been a billionaire at all, unless you count debt as net worth.

  • Treczoks@lemmy.world
    link
    fedilink
    arrow-up
    10
    ·
    8 months ago

    That is going to hurt his overblown ego more than anything else. He is deadly afraid that his supporters might finally realize that the wannabe-emporer is indeed naked.