The severe monetary obstacle Donald Trump experienced today in the kind of a huge drop in worth of his media business didn’t come as a shock to Stephen Colbert.
What did come as a shock to “The Late Show” host was that the drop occurred at all. “I’m in fact shocked that Truth Social had worth,” Colbert joked throughout his monologue Tuesday night.
Naturally, what Stephen Colbert was speaking about is the huge losses sustained by Trump Media & & Technology Group, the business developed basically to handle Trump’s not successful Twitter cloneTruth Social. The moms and dad business (which trades on Wall Street as DJT) went public recently and wound up witj ridiculous assessment of $11 billion by Friday.
On Monday the real, incredibly alarming state of the business’s financial resources was divulged, and considering that then the business’s stock has actually lost almost $4 billionAs it has a little user base and makes nearly no cash, this tumble is likely to continue
Colbert entered into the subject on Tuesday by very first going over how Trump published a $175 million bond on his $454 million New York scams judgment, thanks to a bank loan underwritten by an … uncommon insurer that focuses on sub prime vehicle loan
“Moving on to a civil scams case the other day, Trump set up a $175 million bond so he might appeal his $454 million judgment. He’s been looking for weeks for somebody to set up the money and he lastly discovered a business to consent to it,” Colbert discussed. “Knight Specialty Insurance, which is run by its chairman, and 4 years of age who Freaky Fridayed with the CEO, Don Hanky. Handkerchief is sort of well-known for handling dangerous bets in the insurance coverage world. He’s referred to as the king of subprime vehicle loan. Yes, he’s the king now however one day the throne will go back to its rightful successor Lord careless noodle.”
“He described why he installed the cash, stating ‘I heard that he required a loan and this is what we do.’ Yes. This is what they did. You understand their motto: Turned down by the bankey? Do not get so grouchy. Call me, Don Hanky. You’ll state Why thank you, Don,” Colbert joked.
Colbert continued, “turned out, in between the $175 million Trump put up in this case and the $91 million in the E Jean Carroll case, Trump still in some way published method less cash this week than he lost on Wall Street. Since supposedly Truth Social simply lost $4 billion in worth in one day.”
“I am really shocked the reality social had worth,” Colbert quipped. “The slump took place after Truth Social published the loss of $58 million in 2023. Coincidentally, Trump has actually simply revealed the release of the $58 million Kid Rock ball wi da bachelor’s degree wi bachelor’s degree Bible.”
“It’s got the Old Testament, the New Testament, the Declaration of Independence and Kid Rock’s household dish for crystal meth,” Colbert included, describing Trump’s dubious top quality bible
Then Colbert put the scenario in context with the rest of Trump’s Career.
“It’s not getting better anytime quickly. Today, the stock opened at 48 dollars, which is a 39% plunge from the stock’s high of $79.38 on March 26. Really a historical failure. Nobody has actually seen a loss this huge considering that the Trump Taj Mahal, Trump Plaza Hotel, Trump Steaks, Trump Airlines, Trump University and Trump comma Eric,” Colbert joked.
View the entire monologue above.