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Big Take
A Big Winner From Trump’s Election Victory? His Businesses
Nov 8, 2024
Tom Maloney, a Bloomberg reporter specializing in billionaire assets, dives into the financial intricacies of Donald Trump's business interests. He discusses how Trump's ventures, like Truth Social and crypto, could thrive with his potential second term. The podcast covers valuation challenges and the impact of political influence on Trump's corporate successes. Maloney also reveals unique business tactics, such as Gucci's negotiations in Trump Tower, illustrating how politics and profit intertwine in this complex landscape.
14:11
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Quick takeaways
- Trump Media and Technology Group faced substantial financial challenges, revealing the volatility of Trump's business ventures despite his potential return to power.
- Concerns about conflicts of interest surface as Trump's substantial business holdings raise questions about the political implications of his presidency.
Deep dives
Trump Media Performance Review
The financial performance of Trump Media and Technology Group revealed significant challenges during the third quarter, with only $1 million in revenue against losses nearly 20 times greater. Despite being a key player in a politically charged environment with potential for earnings, the company struggled to generate substantial income amidst the U.S. election season. Upon Donald Trump's election victory, the stock experienced a brief surge, adding approximately $2 billion to his net worth, only to retreat shortly after, illustrating the volatility of the company's market valuation. The difficulties faced by Trump Media highlight the uncertainty regarding its future profitability, even with Trump in office.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode