When former President Donald J. Trump’s social media company went public this week, supporters and investors betting on Mr. Trump’s political success helped drive the value of a loss-making firm through the roof.
Mr. Trump ended the first day of public trading $4.6 billion richer on paper.
If Mr. Trump is elected president, it may not be the last time the company is used as a vehicle to benefit Mr. Trump’s pocketbook, experts said.
Trump Media & Technology Group — the owner of Truth Social, the site Mr. Trump uses to rally his backers and blast his opponents — could present a new, fairly straightforward route for foreign leaders or special interests to try to influence him.
Should he retain his control of the company while in office, the ethical questions that arose from Mr. Trump’s hotels and other properties in his first term as president would only multiply when applied to a publicly traded media company, they said.
Persons:
Donald J, Trump, Trump’s pocketbook, —, ”, Jack Goldsmith, George W, Bush
Organizations:
Trump Media & Technology, Truth, Harvard University