The Rumor That Sent Donald Trump Spiraling After The 2024 Election
Donald Trump was reportedly outraged over rumors claiming he is interested in selling Truth Social, the president-elect's own social media service, which has faced many hurdles. Trump announced on Truth Social that he would not be selling any of his shares in the service and that the spreading of any reports to the contrary should be investigated as a crime.
Trump's tech company, Trump Media, owns Truth Social, and the man himself retains 57% of shares within the company. Altogether, those shares are said to be worth around $3.5 billion. After the 2024 presidential election, the stocks flip-flopped, but shares increased 10% after Trump addressed the rumors of a potential sale online.
Trump initially said in September 2024 that he did not intend to sell his shares in Truth Social, but he may be legally forced to after being elected as the President of the United States in 2024. Also, Trump's claims he will not sell his shares are counteracted by the actions of Phillip Juhan, the president-elect's financial advisor, who has been doing exactly that since August 2024.
In his statement, Trump claimed that those spreading rumors that he wants to offload Truth Social are fabricated by unknown criminals committing market abuse. However, where the rumors came from is actually anyone's guess, so Trump's rant was without a specific target.
What did Donald Trump really write in his Truth Social post?
President-Elect Donald Trump's heated message via his successful social media platform, Truth Social, on November 8, 2024, was a bit over-the-top and forceful in trying to convince readers that he would never sell his shares in Truth Social, even though many factors indicate that he will. "There are fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth," he wrote. "THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!"
Trump's message went on to declare that people should be held responsible for starting the rumors, but who he is referring to so hatefully is not actually clear. "I hereby request that the people who have set off these fake rumors or statements, and who may have done so in the past, be immediately investigated by the appropriate authorities," Trump's post continued. "Truth is an important part of our historic win, and I deeply believe in it. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!" Since the stocks for Trump Media went up again in the days following his post, it seems as though the 2024 president-elect may have made this controversial post in order to attract attention, rather than because he's actually upset about the alleged "rumors."