Trump Media takes a dump

| 12:07 am EDT April 2, 2024
Dear Palmer Report readers, we all understand the difficult era we're heading into. Major media outlets are caving to Trump already. Even the internet itself and publishing platforms may be at risk. But Palmer Report is nonetheless going to lead the fight. We're funding our 2025 operating expenses now, so we can keep publishing no matter what happens. I'm asking you to contribute if you can, because the stakes are just so high. You can donate here.

For all the hype about how much money Donald Trump was supposedly making from the Trump Media / Truth Social merger, the reality was that Trump’s “payday” was all strictly on paper. And if anyone believed that Trump’s shares were still going to be worth anything by the time he was allowed to sell them, they’re naive enough to… well, naive enough to be a Trump supporter.

Sure enough, the company’s stock price went off a cliff today, as the ugly truth of the company’s disastrous finances surfaced. Donald Trump lost about a billion dollars on paper, which would be devastating if any of the money were real to begin with.

Of course now the real question is why this whole scheme existed to begin with. The parent company was reportedly under DOJ investigation before the merger took place, so it’s presumable that they’ll get to the bottom of this one way or the other. Meanwhile, it’s another embarrassment for Donald Trump, at a time when his life is just one embarrassment after another.

Dear Palmer Report readers, we all understand the difficult era we're heading into. Major media outlets are caving to Trump already. Even the internet itself and publishing platforms may be at risk. But Palmer Report is nonetheless going to lead the fight. We're funding our 2025 operating expenses now, so we can keep publishing no matter what happens. I'm asking you to contribute if you can, because the stakes are just so high. You can donate here.