For days, Donald Trump’s fury over the requirement to secure hundreds of millions of dollars in bond money by Monday has been bubbling behind the scenes and through a steady stream of social media posts.
Friday’s public barrage on his Truth Social platform, which included multiple all-caps posts, highlighted his persistent anger with the judge who handed down the $464 million judgment, the New York attorney general who brought the civil fraud case and Trump’s insistence that it’s all designed to derail his presidential campaign.
The posts, including one sent just before 2 a.m. Friday, contained a mix of invective and claims devoid of fact or evidence. (There is no evidence that the White House has played any role in the case brought by New York Attorney General Letitia James, let alone ordered her to pursue her effort. Nor is there any evidence that Trump, as he claimed, has plans to use any of his own money for his presidential campaign.)
But also embedded in the posts was a reality that has pushed Trump’s company and personal finances to the brink with just two days remaining to land a solution.
A separate article said that the Truth Social board can vote to waive those six month lockup rules.
Edit: See this article: https://www.businessinsider.com/trump-could-sell-truth-social-stock-early-son-friends-board-2024-3
Edit 2: Good news - apparently even with a waiver, he can only sell 1% of outstanding shares every quarter:
https://www.politico.com/news/2024/03/22/trump-truth-social-money-financial-troubles-00148456
Edit 3: Another depressing thought: Trump probably will take those shares at present-day valuations and take out a loan or post bond with the shares as collateral. It’s his signature move to inflate his net worth - leverage everything, get cash, buy, and leverage again - so of course that’s got to be the answer.
If they do, wall street will short the fuck out of this stock, it will free fall.
Do you happen to have a link for that 'cause I’d be interested in reading it.
Yup, here you go (I think I saw it on a different article, but this one confronts it more directly): https://www.businessinsider.com/trump-could-sell-truth-social-stock-early-son-friends-board-2024-3
Edit: See original post, this article has even more detail and suggests he can’t sell more than 1% of outstanding shares each quarter: https://www.politico.com/news/2024/03/22/trump-truth-social-money-financial-troubles-00148456
Thanks. Looks like he’s still fucked so good news for us.
So what’s the best case math for slimeball? 1% of 60% of $3B (=18M?) every 3 months?