How Trump’s Twitter Speeches Affected Markets, Companies, And Wealth

US President Donald Trump has been active on social media during his tenure. Trump’s Twitter was referenced by the media, it was studied by analysts and financiers, investors and traders were guided by it, and Trump’s opponents several times sought to temporarily freeze their account and, after an attempt to seize the Capitol by supporters of the 45th president, were blocked forever. Forbes recalled Trump’s most famous and controversial tweets and how they influenced the markets.

With his statements, Trump crashed and raised oil prices, twice brought down the stock exchange, increased and decreased the fortune of entrepreneurs. Despite mistakes and misprints in words, disregard for historical facts and rather caustic attacks towards his opponents, Trump actually showed how a word can respond, and that, as is known from the Russian proverb, “not a sparrow”.

On January 9th, Twitter permanently blocked his account with 88 million followers. This was reported in the official blog of the company. This decision was taken by the Twitter leadership in connection with the events in Washington on January 6, when Trump’s supporters stormed the building of Congress and tried to disrupt the approval of the presidential election results.

“After thoroughly reviewing the recent tweets of @realDonaldTrump and the context around them – in particular, how they are perceived and interpreted on Twitter and beyond – we have permanently blocked this account due to the risk of further incitement to violence,” says in the message of the social network.

Facebook and his Instagram also did not stand aside and froze Trump’s personal pages “for an indefinite period.” Mark Zuckerberg F noted that the incumbent will not have access to accounts, “at least until the peaceful transfer of power is completed,” stressing that he considers it unacceptable to use social media to “incite rebellion against a democratically elected government.”

The value of shares of companies after the Trump blocking began to decline rapidly. At the close on January 8, Facebook traded at $ 267.57, at the close on Monday, January 11, they were worth $ 256.84 (a drop of almost 4%). Twitter shares on January 8 at the close of trading were worth $ 51.48, on Monday they traded at $ 48.18 (down 6.4%).

The fortune of the founder and CEO of Twitter Jack Dorsey on Monday, January 11, fell by $ 843 million. According to the Forbes Real-Time rating, which is updated in real time, it was $ 12.1 billion. The fortune of Mark Zuckerberg, who lost $ 3.9 billion According to Forbes Real-Time, the founder of Facebook is now worth an estimated $ 94 billion.

Maxim

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