Trump’s New AG Holds $3.9 Million in DJT… How She Got Them Will Make You Do a Double Take

Welcome to Trump’s inauguration day, where Bitcoin’s flirting with $110K, memecoins are back like they’ve got 2021 FOMO, and Truth Social is making headlines again. While the platform’s stock has spent the past year yo-yoing between meme-fueled hysteria and “sell everything” panic, it’s currently enjoying a 14% bump in just five days. But forget the stock… let’s talk about Trump’s new Attorney General, Pam Bondi, who happens to own $3.9 million worth of Truth Social shares.

Pam Bondi, the former Florida Attorney General and Trump’s latest pick for the Department of Justice, disclosed that she’s sitting on a $3.9 million stake in Truth Social. How did she get it? Not by pulling a Warren Buffett and reading balance sheets, that’s for sure. No, Bondi was handed the stock as part of a consulting gig with Trump Media during its SPAC merger days. (Because nothing screams “clean slate” at the DOJ like holding a meme-stock portfolio tied to your boss.)

Bondi’s financial disclosure also revealed a $12.1 million net worth, which sounds impressive until you realize a third of it is tied up in a platform that’s basically a digital echo chamber for Trump fans. And now, as she prepares to lead the DOJ, ethics watchdogs are raising questions (and rightfully so). Bondi has promised to divest her Truth Social shares within 90 days of confirmation, which is a nice gesture (if you ignore the fact that she’s already made nearly $1 million on them). But critics aren’t buying it. After all, she’ll be running the DOJ while holding a financial interest in her boss’s pet project. (Imagine refereeing a game while betting on your own team… it’s like that, but with more subpoenas.)

Ethics experts are particularly concerned about the potential for foreign influence. As one watchdog put it, “There’s nothing stopping a foreign billionaire from snapping up DJT stock to curry favor.” Now to the fun part… the stock itself. Truth Social’s market cap hovers around $9 billion, which sounds impressive… until you look at its revenue. The company posted a hilarious $1 million in Q3 revenue. For context, that’s less than what most small-town Chick-fil-As rake in over the same period. To make matters worse, revenue growth is flat, and user growth isn’t doing much better. The platform’s active user base hovers around 2 million, a drop in the bucket compared to Meta’s 3 billion.

With a valuation of $9 billion, Truth Social trades at an incredible 9,000 times revenue. Compare that to established tech giants like Meta or Alphabet, whose valuations sit at more reasonable price-to-revenue multiples of 5 to 10… and Truth Social is the equivalent of buying a yacht made of paper. So no, just because Trump’s President doesn’t erase the fact that this is a horrible stock to buy (unless you just want to gamble).

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Stock.News has positions in Meta and Alphabet.