Yesterday, Trump launched Trump Media, the parent company of his social media platform, on the Nasdaq, netting him a staggering $4.6 billion (on paper, at least). Overall, the new company is worth 2,000 times its estimated annual revenue, according to the New York Times. The start-up is either an example of Trump’s financial savvy or it’s a rip-off of his own credulous supporters, with all the volatility of a meme stock. More likely, it’s both.
