'It's not worth anything': Former Trump lawyer blows a hole in 'hype' over Truth Social
During an appearance on MSNBC's "The Weekend," former Donald Trump lawyer and fixer Michael Cohen dismissed the idea that the Friday merger of his former client's Truth Social — and the cash that reportedly comes with it — will help with the former president's financial woes.
Speaking with the hosts, Cohen accused Trump and his close associates of "hyping" up the value of Truth Social where there is none.
"What is the value to it?" he asked. "The fact that they want to make claims that it's worth $4 billion or $5 billion and he has like 85 percent of the stock. Wouldn't that stock be valued based upon its profitability?"
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"I understand it has like 15 million users on it," he elaborated. "Compare that to somebody like Taylor Swift who has 120 million followers — 120 million. What is the profitability that they are making the statement that it is worth not just into the millions or the hundreds of millions, but into the billions of dollars? I don't buy it either."
"They are trying to hype up the stock the same way they would do it for Trump Mortgage, Trump University, Trump Vodka, Trump Steaks, Trump this or Trump that — it's not worth anything " he added. "There is no profitability and there is no future in sight for that profitability either. I mean, who wants to go on to Truth Social? It is nonsense and I do not think that anybody is going to take this -- the stock as an advance for cash."
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MSNBC 03 23 2024 09 14 49 youtu.be