Trump published his own rap newspaper

A variety of Trump watchers have tracked the condition of Donald Trump business failureAnd Lawsuits And Miscellaneous differences. Now, Trump’s social media project has released a rap that ranks many spots in his long business career.

This wonderful revelation occurs on page 107 of Registration statement digital world acquisition companyDWAC) filed it with the Securities and Exchange Commission on May 16, where he provided key details of a planned merger with Trump’s new company, Trump Media and Technology Group. DWAC is the so-called blank check The company that was established last year and which in October announced a Merger deal with Trump Corporationincluding the Truth Social messaging app. DWAC shares soared from $10 to $94 in the news. The shares are now trading around $45.

The registration statement provides relevant details for shareholders, including risks they may want to know about. This is where the fun begins. Many of the risks posted in the 66 pages of disclosures are standard startup concerns, such as intense competition or potential funding difficulty. Then comes a section that you won’t see in any other business dossier: “The Risks Related to Our President Donald J. Trump.”

This section includes five main parts: the list of lawsuits in which Trump is involved; The fraud charge brought by the government against Trump’s company 23 years ago; a list of Trump companies that have filed for bankruptcy; Another set of Trump projects that failed without declaring bankruptcy; and the rules governing Trump’s role in the company. Most of the information isn’t new, but this organized compilation amounts to a candid admission that Trump is not the business genius he portrays himself as.

This does not even claim to be an “exhaustive list”

Part One advises contributors that “President Trump is involved in numerous lawsuits and other matters that could damage his reputation, cause him to be distracted from work, or force him to resign.” The filing refers to the ongoing Congressional investigation into the 2021 riots in the Capitol, the numerous lawsuits related to Trump’s bogus allegations of election fraud, the Georgia investigation in which Trump himself may be accused of election fraud, and the New York State Attorney’s civil investigation into possible tax evasion. and a defamation lawsuit filed by E Jane Carroll, the writer who accused Trump of raping her.

“The foregoing does not purport to be an exhaustive list,” the filing states. Then usefully indicate 2016 USA Today story Which has registered more than 3,500 lawsuits related to Trump during his career.

[Follow Rick Newman on Twitter, sign up for his newsletter or send in your thoughts.]

Part Two revisits a 1999 report by Trump Hotels and Resorts with inflated profits. The Securities and Exchange Commission took note and ordered the company to change its reporting procedures.

“The earnings statement was materially misleading,” says the DWAC statement.

The third part lists the Trump companies that went bankrupt. There are Trump allegations There were only four bankruptcies, due to the method of grouping three bankruptcies. But six entities went bankrupt, and the DWAC statement mentioned six entities.

The report warns that “there can be no guarantees that TMG will not go bankrupt either.”

May 7, 2022;  Louisville, Kentucky, USA;  Former President Donald Trump waves to the crowd before the 148th Kentucky Derby at Churchill Downs.  Mandatory credit: Peter Casey-USA TODAY Sports

May 7, 2022; Louisville, Kentucky, USA; Former President Donald Trump waves to the crowd before the 148th Kentucky Derby at Churchill Downs. Mandatory credit: Peter Casey-USA TODAY Sports

Part Four lists other Trump projects that have failed without declaring bankruptcy, including Trump Shuttle, Trump University, Trump Vodka,, and Trump Stakes.

“While all of these companies have been in industries different from TMTG, there can be no guarantee that the performance of TMTG will outperform the performance of these entities,” the statement read.

Part Five provides details of Trump’s personal role in the Trump media and technology group, including the Truth Social. There’s this tip: Trump is “generally obligated” to post any social media post to the Truth Social first, and wait six hours before posting the same elsewhere. Trump said he will not rejoin Twitter (TWTR), which he banned after the 2021 Capitol riots, even if he rescinds the ban. Now we can see that he’ll be restricted to posting to Twitter, anyway. There’s one loophole: Trump can post on any social media outlet if it’s “related to political messaging, political fundraising, or exit voting efforts.”

The risk disclosure envelopes us with the announcement, “TMTG expressly acknowledges the controversial nature of its relationship with President Trump and the potential for any associated controversies to affect TMTG negatively.” But everyone knows that.

Analysts like Matt Levine Bloomberg They mocked the company for its shabby financial analysis, but the stock rose about 9% the day DWAC filed its statement with the Securities and Exchange Commission. That may reflect optimism that the merger appears to be on the right track, and it also reflects Tesla CEO Elon Musk’s sporadic efforts to buy Twitter, which would be Truth Social’s biggest competitor. Musk said he allowed Trump to return to Twitter, but if Musk didn’t buy the company, Trump wouldn’t have that option. This, in turn, can make social truth more prominent.

DWAC investors seem completely unfazed by Trump’s turbulent history. When you ride with Trump, you expect some deviation. At least you were reminded to buckle up.

Rick Newman is the author of four books, including “Rebounders: How winners pivot from setback to success.Follow him on Twitter: @Regignyuan.

Read the latest financial and business news from Yahoo Finance

Follow Yahoo Finance on TwitterAnd InstagramAnd YoutubeAnd FacebookAnd FlipboardAnd LinkedIn

Leave a Comment