Who needs a profit? Trump superfans propel loss-making Truth Social to huge Wall Street debut

A television screen shows the share price for the Trump Media and Technology Group, the parent company of Donald Trump's social media platform Truth Social, as the company began trading in New York. Photograph: Justin Lane/EPAenjoyed a substantial boost to his wealth – his paper wealth, at least – this week after Trump Media & Technology Group soared on its Tuesday debut on Wall Street.

The valuation of almost $8 billion that resulted from the huge superfan-propelled public debut seems rather a lot for a loss-making company that counts Trump’s pet platform Truth Social as its main asset and brought in little more than a few million dollars in revenue the first nine months of 2023. Then again, many much less rational things have happened on stock markets in the past and it is obviously pertinent that Trump is close to reclaiming the White House.

So what skills and attributes does the next Boeing chief executive require? Having worked with Declan Kelly’s chief executive-advising Consello Group, Mollenkopf presumably has some thoughts on what makes a good leader. In this instance, a talent for operating a company that avoids terrifying mid-air cabin panel blowouts would appear essential, while an ability to placate key customers like Michael O’Leary would presumably be ideal.

2. Indy’s whip: The prop used by Harrison Ford in Indiana Jones and the Temple of Doom sold for $525,000 – almost enough to pay for all the therapy needed by everyone who saw Temple of Doom as a child.

Source: News Formal (newsformal.com)

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