(VitalNews.org) – After a loss of four billion dollars, former president Donald Trump may be able to profit handsomely from his social media company, Truth Social.
An agreement prevented Donald Trump from selling any of his hundred millions of shares of the app, but this agreement recently just ended. If Trump decides to sell his shares then he could benefit and make a good profit from it as his stake in the company is almost worth two billion dollars.
Donald Trump could also gain a lot from holding onto his stake in the company as well because it makes up a large percentage of his net worth. Trump was asked about whether or not he would sell, but he stated that he wouldn’t.
“They’re worth billions of dollars,” Trump said, “but I don’t want to sell my shares.” He added, “I’m not going to sell my shares. I don’t need money.”
Although Trump’s net worth has grown to over four billion dollars, he owes over five hundred million dollars in civil judgments for his current lawsuit, which he is appealing.
There’s speculation that the social media app would see a decline if Trump didn’t win the presidency. Recently, shares for Trump’s Truth Social hit a new low of just below fifteen dollars per share, but they experienced a surge after Trump announced that he would keep his shares.
Jerry Dean McLain, a shareholder who purchased a hundred additional shares after Trump’s pledge, said, “When he’s promised to do something, he’s kept his word. He’s loyal to his followers — to his people — so I don’t have any reason not to believe him.”
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