'Probably illegal rumors': Trump calls for investigations — to protect his interests

08 November 2024

Although his inauguration is still months away, Donald Trump, just days after winning back the White House, has already started calling for investigations aimed at safeguarding his personal financial interests.

Trump is the majority shareholder in DJT, the Trump Media & Technology Group that holds his Truth Social social media company. His stake is reportedly valued around $4 billion.

“Donald Trump has made clear that upon his return to office, he intends to sic the authorities under his control on his political enemies and critics. He’s getting started with Truth Social speculators,” Rolling Stone reports.

“The president-elect’s revenge fantasy agenda is getting an early start with a probe into those speculating about Truth Social,” Rolling Stone noted. “Inauguration Day is still months away, but the newly minted president-elect is wasting no time adding to his list of targets – starting with people speculating that he may sell Truth Social.

DJT stock “soared Friday after President-elect Donald Trump reaffirmed he has no plans to sell off his stake in the Truth Social operator, and called on authorities to investigate whoever suggested otherwise,” CNBC reports. “Trump’s announcement, posted on Truth Social, was his first personally written statement since his stunning victory against Democratic Vice President Kamala Harris in Tuesday’s presidential election.”

If Trump were to sell shares from his DJT holdings, that “would likely further depress the price of Trump Media’s shares,” NPR reported in September.

In his call for an investigation, Trump on Friday wrote: “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. THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING! 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. 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!”

The federal government watchdog Citizens for Responsibility and Ethics in Washington, CREW, Friday warned: “As a publicly traded company, Truth Social offers even more ways for foreign governments, special interests and wealthy donors to personally enrich Trump as they endeavor to curry favor with him and his administration.”

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