Forbes – Deep Left Field

Though he loudly proclaims himself to be a “great businessman” who has made a fortune in the real estate business, that’s far from the truth, as we learned recently when Forbes magazine dropped failed former president Donald Trump from their ranking of the richest people in the United States.

As the magazine explained, the Trump Organization has taken some major reversals in recent years, and that’s mainly the result of moronic business decisions made by the Donald:

His net worth is down more than $600 million from a year ago. The biggest reason: Truth Social, his social-media business. Trump once envisioned a significant percentage of the country logging onto the platform. But that never happened. Roughly 6.5 million have signed up so far, about 1% of the total on X (né Twitter). Trump’s 90% stake in Truth Social’s parent company has plummeted in value from an estimated $730 million to less than $100 million.

Even though the article removing Trump from the richest Americans list was published weeks ago, Donnie lashed out on Truth Social two days ago, posting an unhinged screed:

“I hereby demand a full apology from the failing Forbes Magazine, and their third-rate psycho writer, Dan Alexander, for the many false and libelous articles they have written about me, and for the cooperation they have given to the Racist and Incompetent A.G. of New York State, Peekaboo James.

“[Forbes] is owned by the Communist Chinese Government, and China will do anything to stop MAGA. Forbes, a Globalist ‘Rag,’ is a propaganda play against TRUMP.”

Boo hoo! You want some cheese with that whine, Dotard?

That led Forbes senior editor Dan Alexander to respond to the disgraced ex-president on Twitter.

“Hey Donald Trump, if you want to point out a single false fact in any of the articles I’ve published about you—or in the book I wrote about you—feel free. In the meantime, I’m going to keep reporting—and carefully fact-checking every word I publish.”

Trump has yet to reply to Alexander, probably because he knows he has no facts to refute what Forbes has said about him.

Once again, we see what a pathetic wimp Donald Trump is and always will be. He’s a little man who’s terrified of the legal jam he’s in and likely to spend the rest of his life behind bars.

Donnie, you’re in no position to “hereby demand” anything, especially since the entire world knows what a failure you are.

Even though failed, one-term former President Donald Trump’s latest business venture — a social media platform he’s dubbed Truth Social — won’t actually be operational until early next year at the soonest, he’s already raising money to finance the project, which has Chuck Jones of Forbes warning that putting a dime into the Trump project is “a sucker’s bet.”

Investors have been somewhat bullish early on:

Former President Trump announced on Thursday that a newly formed company, TMTG or Trump Media & Technology Group, would merge with Digital World Acquisition Corporation. Digital World is a SPAC or Special Purpose Acquisition Company that was formed in September and whose stock price had essentially been trading around $10 before the TMTG announcement. On Thursday the stock rose to $52 before closing at $45.50 and on Friday it hit a high of $175 and closed at $94.20.

From $10 to $52, then back down to to $45.50 and finally closing at $94.20. That’s some major fluctuation in such a short time, but Jones explains people are betting on a company that has no revenue and no earnings, which is just as absurd and unstable as it sounds:

As Digital World’s IPO prospectus stated, “We have neither engaged in any operations nor generated any revenues to date. Our only activities since inception have been organizational activities and those necessary to prepare for this offering. Following this offering, we will not generate any operating revenues until after completion of our initial business combination.”

Does that sound like something you want in your stock portfolio? If so, then you should probably hand over control of your investment decisions to a 10-year-old and let them choose what stocks to buy on your behalf.

There’s also the matter of the only other publicly traded company Trump has ever been a part of: Trump Entertainment Resorts, which included most of the Donald’s Atlantic City casinos. How did that work out? According to the Washington Post:

“The company operated for roughly two decades, starting in 1995. For Trump’s investors, it was a disaster: The company lost more than $1 billion, its stock price nosedived, and it filed for bankruptcy three times, in 2004, 2009 and 2014. … But Trump himself did well: The struggling company paid him more than $44 million in salary, bonuses and other compensation.”

Trump did great, but investors got fleeced. That’s the story of Donald Trump’s life. He’s a failure and he’s always been one. He just has others pay for his ignorance. And for some reason, they keep falling for his con job.