Billionaire Media Exec Scorches Trump's Truth Social With Blunt 4-Letter Word
HuffPost
Barry Diller ripped the parent company of the former president's platform after it went public last week.
Billionaire media mogul Barry Diller blasted Trump Media, the parent company of the former president’s Truth Social platform, as a “scam” on CNBC after the company went public last week.
“Why are you even talking about this? It’s a scam, just like everything he’s ever been involved in is some sort of con,” said Diller on Thursday’s edition of “Squawk Box.”
Shares in Trump Media & Technology Group, whose majority shareholder is Donald Trump, increased to over $79 after the company began trading last week.
The company, which reported generating $4.1 million in revenue and losing nearly $58.2 million last year, has since dropped to $46 a share as of Thursday night.
Diller referred to GameStop’s “meme stock” saga in 2021 after host Andrew Ross Sorkin noted that Trump Media is on the move in a “remarkable, maybe crazy way.”