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The story honestly delivers much better than the simple schadenfreude that the headline would imply.
It's like a perfect Russian-nesting-doll storm of greed, incompetence, and malice. In ordinary circumstances, I would say it's plausible that the whole thing is a ploy to delay the IPO, because no one would be greedy and illogical enough to fuck up the process of inflating their 90% stake by spending any attention on a craven and self-defeating attempt to claw the last 10% away from the people who are, as far as I know, still actually doing all the work.
But this is Trump. Craven and self-defeating is in him at a molecular level. I would guess that some lawyer of his has already been on the receiving end of a HUGE yelling fit about how unfair it is that someone would try to stop him taking the remaining 10% as is his God given right.
To be fair, he really needs that last $339 million
Yeah the article is fascinating. I'm really surprised that the company constitution didn't have anti-dilution built into it though. That's a child level error when getting into business with someone like Trump.
Still shocked they gave him 90% just for his name essentially. Also surprised at just how high it's valued.
They also claimed they were going to become a streaming platform that would replace Netflix and Disney+ and they would have 80 million users in their first year, pretty sure most of that valuation is imaginary. Didn’t they only make it to around 5 million users?