Well it turns out that the Chinese own a big chunk of him!
August 21, 2024What is wrong with Donald Trump? How can anyone who is revered by some people as a successful business person have so little, if any, business success? Is there anything that Donald Trump touches that does not wilt and die and go belly up?
Nope! He is a loser and what do loser do when they are drowning? Reach out for a life raft.
Take his latest business venture. It presently trades on the stock market as Trump Media & Technology Group Corp (TMTG). It is a Sarasota, Fla., based money pit, best known as the owner of Truth Social. It also hypes its plan to launch a subscription based streaming service called TMTG+ ... which sounds a lot like a copycat Disney+. Yet, no matter what Donald Trump calls it, this, too, is going south in a handbasket.
That means he is looking for investors, and where does he look? To China!
The plot immediately thickened as it turned out that DWAC was created with the help of ARC Capital, a Shanghai-based firm known for listing Chinese companies on American stock markets and which had been under US Securities and Exchange Commission (SEC) investigation for misrepresenting shell corporations.The DWAC-Trump venture was initially linked to China Yunhong Holdings until the end of 2021 when the lead banker promised to sever ties with China and dissolve Yunhong.It was then that the connection between Shanghai-based ARC Capital and DWAC was exposed for its heavier than previously disclosed investment in Donald Trump’s venture.
Wait a minute! Wasn't Trump harping about Chinse firms investing in the U.S.? The New York Times writes,
Essentially, Mr. Trump’s trade agenda aims at backing the United States away from integration with the global economy and steering the country toward becoming more self-contained: producing a larger share of what it consumes and wielding its might through one-on-one dealings with other countries.
Okay, how will his trade policies be effected when China has millions invested in Trump's company? Do you think that they have leverage on him?
Forbes writes in the 2020 elections,
President Donald Trump, who declared “I don’t make money from China” in Thursday night’s presidential debate, has in fact collected millions of dollars from government-owned entities in China since he took office. Forbes estimates that at least $5.4 million has flowed into the president’s business from a lease agreement involving a state-owned bank in Trump Tower.
An article in Newsweek reported back in 2021,
Former President Donald Trump's new social media project is backed by a venture that appears to have opaque Chinese connections, new findings have shown.Trump, who is still banned from Twitter and Facebook, announced Truth Social on Wednesday, vowing to "stand up to the tyranny of Big Tech." It's the result of a merger between Trump Media and Technology Group (TMTG) and Digital World Acquisition Group.[...]On Thursday, U.S. Securities and Exchange Commission filings posted online revealed seemingly indirect connections to potential business in China. MeidasTouch News found Digital World chief executive Patrick Orlando was also listed as the CEO of China Yunhong Holdings Ltd.
And now Truth Social!
ReutersBy Helen Coster and Svea Herbst-BaylissMarch 23, 2024Former U.S. President Donald Trump came a step closer on Friday to reaping a major windfall from his social media firm after investors in a blank-check acquisition company approved a merger currently worth about $5.7 billion.The deal values Trump's majority stake in the company that holds his app Truth Social at about $3.3 billion. The windfall could prove vital as Trump grapples with the financial fallout of a string of legal cases against him, including a $454 million judgment in a civil fraud case in New York.Shareholders of Digital World Acquisition Corp (DWAC) (DWAC.O), opens new tab, the special purpose acquisition company (SPAC) that plans to list Trump Media & Technology Group on the stock market through a merger, voted in favor of the deal on Friday.
Now tell me, who owns Trump?
Trump said of China's President Xi is a'brilliant man' who rules with 'iron fist'
So will the Chinese pay his tab for the court, how beholden do you think Trump will be to the Chinese when they say get out of the Philippines? Hmm... will Trump have to register as an Agent of a Foreign Government for receiving money from China?
So will the Chinese pay his tab for the court, how beholden do you think Trump will be to the Chinese when they say get out of the Philippines? Hmm... will Trump have to register as an Agent of a Foreign Government for receiving money from China?
Then we have his campaign donations, you think that you are donating to the campaign but...
CNNBy Casey Tolan, Isabelle Chapman and Nelli BlackAugust 23, 2024Late last year, former President Donald Trump announced his endorsement of car dealership owner Bernie Moreno for Ohio’s Senate seat – elevating an untested candidate who’d never held public office over several other more prominent Republicans.Two days later, Moreno’s campaign spent about $17,000 at Trump’s Mar-a-Lago resort, and then followed up by spending an additional $79,000 the next month – making him one of the Florida club’s top political spenders.He wasn’t alone. With glitzy Mar-a-Lago fundraisers, stays at Trump’s hotels, and flights on the former president’s private jet, Republican candidates and political groups are on track to spend more on Trump’s businesses this year than any year since 2016, according to a CNN analysis of federal campaign finance data.Trump himself has been the biggest spender, both this year and over the last decade. Between his three presidential campaigns, Trump and associated political groups have funneled more than $28 million in campaign donations to his businesses – helping convert the enthusiasm of his political supporters into personal profit.Other Republicans have followed suit, spending millions at Trump’s properties in an apparent attempt to curry favor with the former president and signal their allegiance to him to GOP voters.
This sounds like a "vigorish" scheme to me, where you pay the mob bosses a cut of your pay.
But since Trump famously descended his golden escalator in 2015, every congressional candidate whose campaign has reported spending money at his businesses has been a Republican, the FEC data shows.Most of them have received an endorsement from Trump at some point in their political careers. And some of the biggest spenders are politicians who have never held elected office but received key early endorsements from the former president that helped their campaigns win or avoid competitive primaries.
The question is where is all Donald's campaign money going? The left leaning New Republic writes,
A new investigation reveals how Donald Trump is profiting off Republican campaigns—and using his own to rake in millions.By Ellie Quinlan HoughtalingAugust 23, 2024Amid a year of legal woes that added up to roughly half a billion dollars, Donald Trump has been leeching cash from an eyebrow-raising source: his campaign.According to a CNN analysis of federal campaign finance data, Trump and associated political groups have funneled more than $28 million in campaign donations into his businesses since he first ran for office in 2015.Other Republicans are reportedly also using their campaign budgets on Trump’s businesses in order to earn favor with the conservative populist. Republican candidates and conservative investors, including Bernie Moreno, former Georgia Senate candidate Herschel Walker, and Arizona Senate hopeful Kari Lake, have spent more on Trump’s businesses this year than at any point since 2016, reported CNN. Those expenses added up by way of “Mar-a-Lago fundraisers, stays at Trump’s hotels, and flights on the former president’s private jet,” the outlet reported.
[...]“He’s clearly now in complete control of the Republican Party,” Daniel Weiner, director of the Brennan Center’s Elections and Government Program, told CNN. “Patronizing his businesses has become one of the accepted ways that candidates and public officials express their loyalty to the party’s leader.”
Didn't at one time this has been called a "shakedown"?
Under Trump more then ever, we have the best government money can buy.
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