{"id":614489,"date":"2024-03-27T05:32:12","date_gmt":"2024-03-27T02:32:12","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/analysis-trumps-djt-stock-creates-a-unique-new-ethical-nightmare\/"},"modified":"2024-03-27T05:32:12","modified_gmt":"2024-03-27T02:32:12","slug":"analysis-trumps-djt-stock-creates-a-unique-new-ethical-nightmare","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/analysis-trumps-djt-stock-creates-a-unique-new-ethical-nightmare\/","title":{"rendered":"#Analysis: Trump\u2019s DJT stock creates a unique new ethical nightmare"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a399344b1e31\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a399344b1e31\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/analysis-trumps-djt-stock-creates-a-unique-new-ethical-nightmare\/#Unprofitable_and_losing_users\" >Unprofitable and losing users<\/a><\/li><\/ul><\/nav><\/div>\n<div data-editable=\"content\" itemprop=\"articleBody\" data-reorderable=\"content\">\n<p data-uri=\"cms.cnn.com\/_components\/editor-note\/instances\/clu8jca4g00033b6h8itxnh9e@published\" data-editable=\"text\" data-component-name=\"editor-note\" class=\"editor-note inline-placeholder\" data-article-gutter=\"true\">\n  <em>A version of this story <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared in CNN\u2019s What Matters <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter. To get it in your inbox, sign up for free\u00a0<\/em><em>here<\/em><em>.<\/em>\n<\/p>\n<p>    <cite class=\"source__cite\"><br \/>\n      <span class=\"source__location\" data-editable=\"location\"><\/span><br \/>\n      <span class=\"source__text\" data-editable=\"source\">CNN<\/span><br \/>\n        \u00a0\u2014\u00a0<br \/>\n    <\/cite><\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8jbgpn000invoyfl9241m5@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The newly public company trading on the Nasdaq with the ticker \u201cDJT\u201d has one dominant shareholder: Donald John Trump, the cash-strapped former president of the United States.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8p9gzl001c3b6herlp7u3r@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            That a fledgling, unprofitable <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> platform can make the former president billions of dollars on paper is a marvel of the stock market. Trump can\u2019t realize the windfall by selling his shares or borrowing against them<strong> <\/strong>for six months unless the company\u2019s board, which is packed with his supporters, gives him the OK.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8sdgze000i3b6ip4a4l3m5@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            It probably can\u2019t get Trump cash soon enough to make the drastically reduced $175 million bond he needs to post for the civil tax fraud charges levied on him and his other companies. Other penalties in that civil fraud decision, including the suspension of Trump\u2019s ability to do business in New York, have been paused for now.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8r1eow000n3b6htz6009cf@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The fact that Trump\u2019s newly public company makes little in the way of revenue and loses money should be fair warning to investors.\u00a0In the meantime, he\u2019s also trying to sell \u201cGod Bless the USA\u201d Bibles via his social media platform Truth Social for $59.99.\n    <\/p>\n<h2 class=\"subheader\" data-editable=\"text\" data-uri=\"cms.cnn.com\/_components\/subheader\/instances\/clu8r1t0f000q3b6hmmg9sv5o@published\" data-component-name=\"subheader\" id=\"unprofitable-and-losing-users\" data-article-gutter=\"true\"><span class=\"ez-toc-section\" id=\"Unprofitable_and_losing_users\"><\/span>\n    Unprofitable and losing users<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8nmkzw000o3b6hcazb1w4s@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            CNN\u2019s Matt Egan points out that the fundamentals of the company are not exactly stellar: \u201cTrump Media generated just $3.4 million of revenue through the first nine months of last year, according to filings. The company\u00a0lost $49 million over that span.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8p5tv500143b6hk2kbozt0@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cMy podcast makes a lot more money,\u201d the tech journalist and CNN contributor Kara Swisher told Laura Coates on CNN on Monday.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8nmqqd000q3b6hiwuy284a@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Plus, the company\u2019s main asset, Truth Social, has fewer than 500,000 monthly active users, far less than platforms like Facebook, X or TikTok, and Truth Social is losing more users than larger platforms and is losing users at a faster clip.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8np5t9000s3b6hj9npdxle@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            More from Egan: \u201cFor context, Reddit was only valued at $6.4 billion\u00a0at its IPO last week\u00a0\u2013 even though it generated 160 times more revenue than Trump Media. (Reddit hauled in $804 million in revenue in 2023, compared with Trump Media\u2019s annualized revenue of about $5 million.)\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8ni2x6000k3b6hlu2nn8uq@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Another note of caution for investors in DJT should the history of the last company Trump took public.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8t1cmz000o3b6i5vjwpgvw@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Trump\u2019s casino company also went by the ticker DJT, but on the New York Stock Exchange between 1995 and 2004, when it went bankrupt and was delisted. That was actually the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/money.cnn.com\/2015\/08\/31\/news\/companies\/donald-trump-bankruptcy\/\">third of Trump\u2019s four business bankruptcies<\/a>.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8o9o51000x3b6h2iwujyvi@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Note: When Trump was talking about the IPO for Trump Media &amp; <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> Group after a court appearance in New York on Monday, he tried to explain why the company would be listed on Nasdaq instead of the NYSE. CNN\u2019s Daniel Dale looked into that claim \u2013 something about how the NYSE is in New York \u2013 and found Trump\u2019s explanation to make no sense, since Nasdaq is also located in New York.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8ni1ui000i3b6hpvxx9d34@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            None of that has stopped what some experts have referred to as a bubble forming around the Trump Media &amp; Technology Group. It is drawing comparisons to so-called \u201cmeme stocks\u201d like <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>Stop and AMC, which were buoyed for a time by small individual retail investors who poured in so much money that the stocks rapidly outran the companies\u2019 fundamentals.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8optcm00103b6h8phshfdj@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            In the case of Trump, the stock could be inflated by his supporters, although the inverse could also true. If Trump unloaded his stock, it could plunge in value because his brand would no longer be associated with it.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8trh7200003b6hnovfna0v@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/finance.yahoo.com\/quote\/DJT\/holders\">top institutional investor<\/a> in the company is Susquehanna International Group. Its founder, Jeff Yass, is a major donor to Republican causes and also a major investor in ByteDance, the parent company of TikTok.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8p1fjh00123b6hwnyegfa0@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Yass and Trump actually met recently, just before Trump reversed his previous position in favor of requiring ByteDance to spin off TikTok. Trump said the subject of TikTok did not come up in his conversation with Yass. Susquehanna International Group did not return a request for comment about the company\u2019s stake in Trump Media &amp; Technology Group.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8rmdnw001a3b6hnvxmho0i@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Jordan Libowitz is the communications director for the watchdog group Citizens for Responsibility and Ethics in Washington, and in a phone conversation, he wondered what might happen if foreign wealth funds that have interests in<strong><em> <\/em><\/strong>the US, like those associated with Saudi Arabia or Qatar, started buying large amounts of DJT stock.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8tdcei000q3b6i325xltdr@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Since so much of Trump\u2019s wealth is now tied up in the company, those countries could theoretically have a direct impact on his bottom line.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8rrp6j001c3b6hp40n0qi2@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cThe value isn\u2019t really in the company,\u201d Libowitz argued, pointing to the company\u2019s lackluster revenue. \u201cIt\u2019s in the Trump name.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8phkhw00003b6h76r7uuyu@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            If Trump wins the White House again<strong> <\/strong>and a company bearing his initials are available, it could obviously be a venue for investors to curry favor. It would be an unprecedented situation, although not dissimilar to what happened when Trump was president.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8ptwlk00023b6h8kdbtoza@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            While his company was not public during his first term in the White House, the use of his then-Washington, DC, hotel by foreign companies was the subject of lawsuits related to the Constitution\u2019s Emoluments Clause, which bars the president from profiting from a foreign government.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8pvvzq00073b6hop10wpxa@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Days after Trump left office, the Supreme Court threw out cases related to the Emoluments Clause because he was no longer in office.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8ti1fi000s3b6ipu5zhd5p@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            While Trump no longer owns the DC hotel, the same ethical issues would present themselves if he returns to the White House. But while the effect of throwing business to a president\u2019s hotel ends when someone checks out of their room, the relationship with investors can be much longer lasting.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8q36nl00093b6h4njbnu2w@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Current law restricts every executive branch employee except the president from having investments that conflict with their job, Kedric Payne, senior director of ethics at the Campaign Legal Center, told me in a phone conversation.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8tjoey000u3b6i45ija9ji@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            It\u2019s something Trump exploited when he said he gave control of his company, the Trump Organization, to his sons during his four years in the White House. Ethics experts balked at the lack of controls and transparency.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8q8wl7000e3b6h71ilcb8d@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cIt\u2019s new facts, but the same old problem,\u201d Payne said, adding that the volume of money involved could be much greater with a publicly traded company.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8qcaax000g3b6htkslf9ih@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cAny action that he takes as president could benefit that company, and he would then have the benefit of the stock price,\u201d Payne said.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8qmup1000i3b6hvhxa3i6e@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Shortly after he was elected in 2016, Trump noted that presidents are exempt from ethics laws. \u201cThe president can\u2019t have a conflict of interest,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.politico.com\/story\/2016\/11\/trump-bush-ethics-exemption-231773\">told The New York Times<\/a>.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8rt6ul001h3b6h6odr7mne@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            When these laws were written, according to Libowitz, nobody anticipated a president\u2019s name being attached to a large, publicly traded company. That doesn\u2019t mean previous presidents weren\u2019t wealthy, but unlike Trump, they walled their investments off.\n    <\/p>\n<p class=\"paragraph inline-placeholder\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/clu8tlpp7000w3b6ik9eb3s59@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            He\u2019s doing the opposite, making his wealth synonymous with his name and inviting investors.\n    <\/p>\n<\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN63nwsw68G3Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/www.cnn.com\/2024\/03\/26\/politics\/djt-stock-trump-what-matters\/index.html\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A version of this story appeared in CNN\u2019s What Matters newsletter. To get it in your inbox, sign up for free\u00a0here. CNN \u00a0\u2014\u00a0 The newly public company trading on the Nasdaq with the ticker \u201cDJT\u201d has one dominant shareholder: Donald John Trump, the cash-strapped former president of the United States. That a fledgling, unprofitable social&#8230;<\/p>\n","protected":false},"author":1,"featured_media":614490,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/c-gettyimages-2107849043.jpg?c=16x9&q=w_800,c_fill","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-614489","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/614489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=614489"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/614489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/614490"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=614489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=614489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=614489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}