The last time a Trump company went public it didn't go well for investors
Donald Trump’s social media company could go public as soon as next week, paving the way for a potentially huge windfall for a former president who raked in tens of millions of dollars the last time one of his companies was listed on a stock exchange.
Donald Trump’s social media company could go public as soon as next week, paving the way for a potentially huge windfall for a former president who raked in tens of millions of dollars the last time one of his companies was listed on a stock exchange.
That previous, decades-ago experience, however, did not end well for the company or its investors. While a 2016 Washington Post review found that Trump made over $44 million, the company — Trump Hotels and Casino Resorts — lost more than $1 billion and ended up in bankruptcy.
This time around, there’s at least one similarity between the two ventures separated by decades. The newly merged company that’s set to go public, Trump Media, will be listed on the Nasdaq stock exchange with the letters DJT, Trump’s initials. Trump Hotels and Casino Resorts used the same stock ticker when it went public with great fanfare in 1995.
“It’s going public and we’re really very happy about it,” Trump told reporters almost 30 years ago. “It’s going to be a great day.”
The Atlantic City, New Jersey, company lost money every year, but its stock prices did well — for a time. In the initial public offering, the company raised $140 million, selling 10 million shares at $14 each.
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