Donald Trump’s Meme Stock Moment
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Over the past few years, Donald Trump’s social media platform, Truth Social, has been dismissed as a money-losing boondoggle.
This week, that all changed. Matthew Goldstein, a New York Times business reporter, explains how its parent venture, Truth Media, became a publicly traded company worth billions of dollars.
Guest: Matthew Goldstein, a New York Times business reporter.
Background reading:
For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.
Shares in Donald Trump’s social media business soared following its New York market debut, and Visa and Mastercard have agreed to cut their US transaction fees. Plus, UBS needs to boost its wealth business to make its Credit Suisse acquisition a success.
Mentioned in this podcast:
Donald Trump has $4.6bn stake in social media group after market debut
Visa and Mastercard agree $30bn settlement over US transaction fees
Can UBS become Europe’s Morgan Stanley?
In German groceries, even computers have to obey century-old ban on Sunday work
The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Zach St. Louis, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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