Trump Media’s Founders Are Fighting
Also Hunterbrook’s consulting budget, Blue Owl and insurance, and Endeavor private planes.
Probably Donald Trump should have just issued a crypto token, called it “DJT,” gone around saying “this is the crypto token of me, Donald Trump,” kept 90% of it for himself, and let it trade. People who like Trump would buy it, it would go up, his stake would be worth billions of dollars, and he could sell tokens to raise money for himself. Just a straightforward memecoin. I suppose the problem with this is that Trump has a lot of older, less crypto-native fans, and this would not be an effective way to tap them for money.
But you can get arbitrarily close to this — while attracting a more traditional investor base — by issuing a stock called DJT, and Trump did. DJT — the ticker symbol of Trump Media & Technology Group Corp. — is a meme stock with a market capitalization, as of yesterday’s close, of about $7 billion. It is the stock token of him, Donald Trump, and he owns about 58% of it. People who like Trump bought it, it went up, his stake is worth billions of dollars, and he will eventually be able to sell shares to raise money for himself, though there is a six-month lockup.