Trump sues Truth Social co-founders, claims former ‘Apprentice’ contestants should lose their stock
NY Post
Donald Trump sued two of his fellow co-founders of his newly public Trump Media & Technology Group Corp. (TMTG) alleging that because they set the company up improperly they aren’t entitled to any stock in it.
The lawsuit filed late last month in Florida state court claims Andy Litinsky and Wes Moss — who were both contestants on Trump’s NBC reality TV series “The Apprentice” — violated an agreement about the setup of TMTG and don’t deserve their 8.6% stake.
Their shares are currently valued at a collective $606 million, according to Bloomberg.
The duo also made a series of costly mistakes “that caused significant damage to TMTG and a decline in the stock price of its merger partner,” according to the lawsuit.
After TMTG’s flashy stock market debut under the ex-president’s initials “DJT,” it surged to more than $70 before closing at roughly $66 a share on March 27. So far this week, however, prices have plunged and the company closed at $51.60 on Tuesday.
Trump blamed Moss and Litinsky in the court filing for the firm’s losses, where he alleged that they “failed spectacularly at every turn,” including when “they failed to get the corporate governance established” in TMTG’s early days.
Two Live Nation employees bragged about slapping customers with exorbitant fees at the entertainment giant’s venues, saying “these people are so stupid” that “I almost feel bad taking advantage of them,” according to court documents released late Wednesday.
Oil went on an unprecedented roller coaster ride at the start of the week, with the price surging more than 30% to near $120 a barrel late Sunday – only to erase all of those gains just hours later.
President Trump signaled on Wednesday that he plans to tap into the US Strategic Petroleum Reserve in an effort to bring down rising gas prices.
Zero Bond – the exclusive New York City club beloved by the likes of Jay-Z, Gigi Hadid and former Mayor Eric Adams – is opening a Las Vegas outpost this week.
US stocks were little changed on Tuesday as oil prices dropped after President Trump signaled the war in Iran will be limited – though the drop slowed after the White House walked back a claim that an oil tanker had been escorted through an Iranian energy chokepoint.
After nearly 50 years in Orange County, Yamaha Motor Corp. USA is packing up its headquarters — trading Cypress, California for Kennesaw, Georgia in a sweeping corporate shift that will impact about 250 workers.The motorcycle and motorsports giant says the move is part of major “structural reforms” meant to boost profits as costs climb — including pressure from tariffs imposed during the administration of President Donald Trump and shifting market conditions.
Southern California’s luxury shopping landscape is shrinking as three high-end department store locations prepare to shut their doors.
Stocks went on a rollercoaster ride Monday — with the Dow finishing in positive territory on upbeat comments from President Trump after plunging nearly 900 points on simmering stagflation fears.
Private equity firm KKR is working with advisers on a sale of data center cooling company CoolIT Systems for a price tag potentially exceeding $3 billion, the Financial Times reported on Sunday, citing people familiar with the matter.
John Tatum is one of the most plugged-in businessmen I know, and yet when the bombs started flying over his hotel room in downtown Doha — just a few minutes from the embattled US military facility in Qatar — he was stranded and helpless.
Morgan Stanley’s surprise round of layoffs this past week was the result of “shifting business and location priorities,” and “individual job performance” issues here and abroad, according to the firm’s flacks.
Saks Global said Friday it was closing 15 more stores as the luxury retailer, which filed for bankruptcy earlier this year, tries to cut losses and focus on more profitable, higher-end locations.
Bars and eateries are adapting to the Ozempic era by offering mini cocktails.