The ex-president is now majority owner of an unpopular website worth billions – and the truth behind how that happened really isn’t all that impressive
A lot of people think investing in the stock market is rigged in favor of the big investors, the large financial firms and the people in the know. Small-fry individual investors have as much chance of success on Wall Street as they do at the Bellagio. Donald Trump’s recent windfall isn’t going to win any converts.
Trump merged his unprofitable and tiny Truth Social platform, which has reportedly lost tens of millions of dollars, into a shell company that was previously created and already had a value of billions. The shell company is called a Spac, which is an entity created to take a private business public without conducting an initial public offering (and therefore avoiding much of the regulatory scrutiny).
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