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As 2024 Looms, Ron DeSantis Has Every Corner of the Conservative Media Fawning – Vanity Fair

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From Fox News to The American Conservative, Ben Shapiro to Alex Jones, right-wingers of all stripes are praising the governor’s particular mixture of brash rhetoric and political know-how.

September 13, 2022

Image may contain Audience Human Crowd Person Ron DeSantis and Speech

Scenes at the Conservative Political Action Conference (CPAC) in Orlando, Florida on February 24, 2022. By Mark Peterson/Redux.

Over the past two years, Governor Ron DeSantis has embarked on a public relations speed run aimed at boosting his national profile ahead of 2024, embracing red meat social policies and making inroads with conservative power brokers of every stripe. As part of this effort, the notoriously pugnacious governor has managed to walk a tightrope among right-wing media that few Republicans can. From traditional organs like the New York Post and the National Review to Alex Jones and other insurgent far-right darlings, just about every corner of the conservative media ecosystem has played a part in his meteoric rise.

On Fox News, DeSantis has become a favorite guest, appearing regularly on Fox & Friends, as well as on Sean Hannity’s and Dan Bongino’s shows, to attack COVID lockdowns, cancel culture, and abortion-rights protesters, whom he has likened to January 6 rioters. As reported in an extensive New York Times Magazine profile Tuesday, one Fox producer even told DeSantis’s aides that the far-right governor could host his own show. The Times story also reported that DeSantis began upping his Fox appearances in 2020 at the advice of his wife. “Casey [DeSantis] would say, ‘We have to get him on Mark Levin and Hannity once a week,’” an unnamed DeSantis aide told the paper. “‘Frequency is very important.’”

The governor’s affable relationships with the media aren’t just limited to cable news. In January, DeSantis hosted Dave Rubin, a conservative podcaster, and Benny Johnson, a once-disgraced BuzzFeed writer who now works for Newsmax, at a dinner at the governor’s mansion, per the Times. Ben Shapiro, the most popular conservative podcast host, has described himself as “a big Ron DeSantis fan” and has pushed for him to run in the next presidential cycle, even if that means squaring off with the former president. “If he chooses to run, I think he’d be an excellent candidate,” Shapiro told a listener who raised concerns that a Donald Trump-versus-DeSantis primary could hurt the GOP’s odds. “His best opportunity to run for president is likely in 2024.” Meanwhile, Christopher Rufo, a conservative activist who helped popularize the anti-LGBTQ “groomer” slur, directly advised DeSantis’s policy team on its Stop WOKE Act, which this April officially banned public schools and private workplaces from discussing racial and gender issues. (Last month a Florida US District Court judge declared the law unconstitutional.) “For years, many conservatives understood culture war as lamentation: They believed that complaining about progressive ideology and hypocrisy was a victory in itself,” Rufo told the Times. “Governor DeSantis understands culture war as public policy.”

In conservative print media, multiple industry leaders are also rooting for a DeSantis presidency—and they are far less worried about creating a rift between the GOP’s two 2024 favorites. Rod Dreher, a columnist at The American Conservative, hailed DeSantis as “America’s conservative leader” last month, writing: “While Donald Trump talks the talk, it’s the Florida governor who walks the walk. Competence beats drama every time.” And as I wrote in July, this sentiment—that DeSantis embodies Trump-esque populism but with more political know-how—is shared by the National Review. “Will conservatives look back on the last two years and longer and recognize that DeSantis was their leader even while Trump was still in office?” wrote National Review columnist Michael Brendan Dougherty in an August piece that crowned DeSantis the “leader of the opposition” to Joe Biden’s America.

Over at News Corp, Rupert Murdoch–owned publications appear increasingly ready to ditch Trump in favor of the Florida governor, as my colleague Joe Pompeo reported. The New York Post advised its readers to “Look forward!” when the time comes to choose the next GOP presidential nominee, while the Wall Street Journal editorial board declared that the former president betrayed his supporters by conning them on January 6, adding that “he is still doing it.” (DeSantis, for his part, has flirted with a baseless conspiracy theory that the FBI helped orchestrate the Capitol riot, a claim popularized by Tucker Carlson.) Incidentally, this pattern of ship-jumping has also played out on the opposite end of the conservative media spectrum. Alex Jones, a professional conspiracy theorist and one of the most influential talk radio hosts of this century, announced last month that he was officially putting his weight behind the Florida governor. “I am supporting DeSantis,” Jones told his listeners. “DeSantis has just gone from being awesome to being unbelievably good.… This is what Trump should be like. And I’ve been hammering this point, and he’s doing it now. And we have someone that is better than Trump. Way better than Trump.”

Aside from the media, DeSantis has also ingratiated himself with major Republican power centers, including the Heritage Foundation, one of the most influential right-wing think tanks; Hillsdale College, a leading conservative higher-ed institute; and Club for Growth, a fiscally libertarian group that rose to fame during the Tea Party wave. And while DeSantis’s shadow candidacy has not yet won over Never Trump conservatives like Jonah Goldberg, David French, and Charlie Sykes, they do not view him with the same singular contempt that they have for the former president.

While DeSantis continues to court all sections of the conservative media, the governor has not given an interview to a nonpartisan news outlet since the summer of 2020. The Times, which said it interviewed more than 100 sources for its DeSantis feature, including current and former aides, reported that it was shunned by the Florida governor and his office. In an appearance on The Ben Shapiro Show last year, DeSantis justified his habit of icing mainstream media outlets, saying: “Republicans have to understand—don’t try to get these people to like you.”

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Trump could cash out his DJT stock within weeks. Here’s what happens if he sells

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Former President Donald Trump is on the brink of a significant financial decision that could have far-reaching implications for both his personal wealth and the future of his fledgling social media company, Trump Media & Technology Group (TMTG). As the lockup period on his shares in TMTG, which owns Truth Social, nears its end, Trump could soon be free to sell his substantial stake in the company. However, the potential payday, which makes up a large portion of his net worth, comes with considerable risks for Trump and his supporters.

Trump’s stake in TMTG comprises nearly 59% of the company, amounting to 114,750,000 shares. As of now, this holding is valued at approximately $2.6 billion. These shares are currently under a lockup agreement, a common feature of initial public offerings (IPOs), designed to prevent company insiders from immediately selling their shares and potentially destabilizing the stock. The lockup, which began after TMTG’s merger with a special purpose acquisition company (SPAC), is set to expire on September 25, though it could end earlier if certain conditions are met.

Should Trump decide to sell his shares after the lockup expires, the market could respond in unpredictable ways. The sale of a substantial number of shares by a major stakeholder like Trump could flood the market, potentially driving down the stock price. Daniel Bradley, a finance professor at the University of South Florida, suggests that the market might react negatively to such a large sale, particularly if there aren’t enough buyers to absorb the supply. This could lead to a sharp decline in the stock’s value, impacting both Trump’s personal wealth and the company’s market standing.

Moreover, Trump’s involvement in Truth Social has been a key driver of investor interest. The platform, marketed as a free speech alternative to mainstream social media, has attracted a loyal user base largely due to Trump’s presence. If Trump were to sell his stake, it might signal a lack of confidence in the company, potentially shaking investor confidence and further depressing the stock price.

Trump’s decision is also influenced by his ongoing legal battles, which have already cost him over $100 million in legal fees. Selling his shares could provide a significant financial boost, helping him cover these mounting expenses. However, this move could also have political ramifications, especially as he continues his bid for the Republican nomination in the 2024 presidential race.

Trump Media’s success is closely tied to Trump’s political fortunes. The company’s stock has shown volatility in response to developments in the presidential race, with Trump’s chances of winning having a direct impact on the stock’s value. If Trump sells his stake, it could be interpreted as a lack of confidence in his own political future, potentially undermining both his campaign and the company’s prospects.

Truth Social, the flagship product of TMTG, has faced challenges in generating traffic and advertising revenue, especially compared to established social media giants like X (formerly Twitter) and Facebook. Despite this, the company’s valuation has remained high, fueled by investor speculation on Trump’s political future. If Trump remains in the race and manages to secure the presidency, the value of his shares could increase. Conversely, any missteps on the campaign trail could have the opposite effect, further destabilizing the stock.

As the lockup period comes to an end, Trump faces a critical decision that could shape the future of both his personal finances and Truth Social. Whether he chooses to hold onto his shares or cash out, the outcome will likely have significant consequences for the company, its investors, and Trump’s political aspirations.

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Arizona man accused of social media threats to Trump is arrested

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Cochise County, AZ — Law enforcement officials in Arizona have apprehended Ronald Lee Syvrud, a 66-year-old resident of Cochise County, after a manhunt was launched following alleged death threats he made against former President Donald Trump. The threats reportedly surfaced in social media posts over the past two weeks, as Trump visited the US-Mexico border in Cochise County on Thursday.

Syvrud, who hails from Benson, Arizona, located about 50 miles southeast of Tucson, was captured by the Cochise County Sheriff’s Office on Thursday afternoon. The Sheriff’s Office confirmed his arrest, stating, “This subject has been taken into custody without incident.”

In addition to the alleged threats against Trump, Syvrud is wanted for multiple offences, including failure to register as a sex offender. He also faces several warrants in both Wisconsin and Arizona, including charges for driving under the influence and a felony hit-and-run.

The timing of the arrest coincided with Trump’s visit to Cochise County, where he toured the US-Mexico border. During his visit, Trump addressed the ongoing border issues and criticized his political rival, Democratic presidential nominee Kamala Harris, for what he described as lax immigration policies. When asked by reporters about the ongoing manhunt for Syvrud, Trump responded, “No, I have not heard that, but I am not that surprised and the reason is because I want to do things that are very bad for the bad guys.”

This incident marks the latest in a series of threats against political figures during the current election cycle. Just earlier this month, a 66-year-old Virginia man was arrested on suspicion of making death threats against Vice President Kamala Harris and other public officials.

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Trump Media & Technology Group Faces Declining Stock Amid Financial Struggles and Increased Competition

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Tech News in Canada

Trump Media & Technology Group’s stock has taken a significant hit, dropping more than 11% this week following a disappointing earnings report and the return of former U.S. President Donald Trump to the rival social media platform X, formerly known as Twitter. This decline is part of a broader downward trend for the parent company of Truth Social, with the stock plummeting nearly 43% since mid-July. Despite the sharp decline, some investors remain unfazed, expressing continued optimism for the company’s financial future or standing by their investment as a show of political support for Trump.

One such investor, Todd Schlanger, an interior designer from West Palm Beach, explained his commitment to the stock, stating, “I’m a Republican, so I supported him. When I found out about the stock, I got involved because I support the company and believe in free speech.” Schlanger, who owns around 1,000 shares, is a regular user of Truth Social and is excited about the company’s future, particularly its plans to expand its streaming services. He believes Truth Social has the potential to be as strong as Facebook or X, despite the stock’s recent struggles.

However, Truth Social’s stock performance is deeply tied to Trump’s political influence and the company’s ability to generate sustainable revenue, which has proven challenging. An earnings report released last Friday showed the company lost over $16 million in the three-month period ending in June. Revenue dropped by 30%, down to approximately $836,000 compared to $1.2 million during the same period last year.

In response to the earnings report, Truth Social CEO Devin Nunes emphasized the company’s strong cash position, highlighting $344 million in cash reserves and no debt. He also reiterated the company’s commitment to free speech, stating, “From the beginning, it was our intention to make Truth Social an impenetrable beachhead of free speech, and by taking extraordinary steps to minimize our reliance on Big Tech, that is exactly what we are doing.”

Despite these assurances, investors reacted negatively to the quarterly report, leading to a steep drop in stock price. The situation was further complicated by Trump’s return to X, where he posted for the first time in a year. Trump’s exclusivity agreement with Trump Media & Technology Group mandates that he posts personal content first on Truth Social. However, he is allowed to make politically related posts on other social media platforms, which he did earlier this week, potentially drawing users away from Truth Social.

For investors like Teri Lynn Roberson, who purchased shares near the company’s peak after it went public in March, the decline in stock value has been disheartening. However, Roberson remains unbothered by the poor performance, saying her investment was more about supporting Trump than making money. “I’m way at a loss, but I am OK with that. I am just watching it for fun,” Roberson said, adding that she sees Trump’s return to X as a positive move that could expand his reach beyond Truth Social’s “echo chamber.”

The stock’s performance holds significant financial implications for Trump himself, as he owns a 65% stake in Trump Media & Technology Group. According to Fortune, this stake represents a substantial portion of his net worth, which could be vulnerable if the company continues to struggle financially.

Analysts have described Truth Social as a “meme stock,” similar to companies like GameStop and AMC that saw their stock prices driven by ideological investments rather than business fundamentals. Tyler Richey, an analyst at Sevens Report Research, noted that the stock has ebbed and flowed based on sentiment toward Trump. He pointed out that the recent decline coincided with the rise of U.S. Vice President Kamala Harris as the Democratic presidential nominee, which may have dampened perceptions of Trump’s 2024 election prospects.

Jay Ritter, a finance professor at the University of Florida, offered a grim long-term outlook for Truth Social, suggesting that the stock would likely remain volatile, but with an overall downward trend. “What’s lacking for the true believer in the company story is, ‘OK, where is the business strategy that will be generating revenue?'” Ritter said, highlighting the company’s struggle to produce a sustainable business model.

Still, for some investors, like Michael Rogers, a masonry company owner in North Carolina, their support for Trump Media & Technology Group is unwavering. Rogers, who owns over 10,000 shares, said he invested in the company both as a show of support for Trump and because of his belief in the company’s financial future. Despite concerns about the company’s revenue challenges, Rogers expressed confidence in the business, stating, “I’m in it for the long haul.”

Not all investors are as confident. Mitchell Standley, who made a significant return on his investment earlier this year by capitalizing on the hype surrounding Trump Media’s planned merger with Digital World Acquisition Corporation, has since moved on. “It was basically just a pump and dump,” Standley told ABC News. “I knew that once they merged, all of his supporters were going to dump a bunch of money into it and buy it up.” Now, Standley is staying away from the company, citing the lack of business fundamentals as the reason for his exit.

Truth Social’s future remains uncertain as it continues to struggle with financial losses and faces stiff competition from established social media platforms. While its user base and investor sentiment are bolstered by Trump’s political following, the company’s long-term viability will depend on its ability to create a sustainable revenue stream and maintain relevance in a crowded digital landscape.

As the company seeks to stabilize, the question remains whether its appeal to Trump’s supporters can translate into financial success or whether it will remain a volatile stock driven more by ideology than business fundamentals.

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