June 20, 2024

Donald Trump raises millions in donations after the ruling

This means that more than half the money was raised in one day compared to the entire month of April. This can be explained by the Trump team’s aggressive advertising strategy: $94,900 was spent on advertising in the 24 hours following the conviction. This was more than double the entire previous week, CBS News reported.

The ads directed potential donors to the WinRed donation platform. This matter collapsed shortly after the ruling was issued due to the large number of inquiries. Trump’s team said most of the money came from small donors, and two-thirds of it from first-time donors. Campaign managers spoke of a “wave of support from patriots.”

The large number of donations does not come as a surprise: according to a CBS News analysis, there was an influx of donations on important days in Trump’s legal disputes. The best days before that were when he was indicted in New York and released in Georgia.

Donald Trump must be happy with the numerous donations. But on the other hand, the conviction is also hurting him financially: Shares of Trump Media and Technology Group fell nearly 10 percent after the conviction. It has since recovered, but Trump still has to accept significant losses. The value of his shares in the group fell from about $6 billion to $5.6 billion.

Shares of Trump Media Group have fluctuated wildly since going public in March. The loss isn’t particularly bad for the presidential candidate: Because of the agreement, he’s not allowed to sell his shares until September.

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