Truth Social stock is 'the perfect avenue for potential corruption': analysis

Former President Donald Trump drew scrutiny during his first term in the Oval Office for owning a hotel in Washington D.C. where foreign government officials would often spend lavishly in an apparent attempt to court favor.

But Vox's Abdallah Fayyad believes that Trump may have found an even more lucrative way for foreign governments to buy his influence in a hoped-for second term: Namely, through shares of his Trump Media, the parent company of his Truth Social platform.

In his latest piece, Fayyad describes Truth Social shares as "a perfect avenue for potential corruption," as foreign investment entities can plow cash into the stock to get the former president to do their bidding.

Fayyad begins by going over the reasons he believes the current share price of Trump Media is wildly overvalued given that it lost $58 million last year and generated just over $4 million in revenues.

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Although much of the rise in the firm's share prices appears to be driven by Trump fans who would risk losing significant sums of money to show their dedication to the former president, Fayyad believes that this could change should Trump win another term in the Oval Office.

Fayyad floats the possibility of "foreign businesses, governments, or oligarchs flocking to buy up shares in Trump’s company," which he said would put him "in direct violation of the Constitution’s emoluments clause should he win in November," thus potentially creating a constitutional crisis from the first day.

Or as Virginia Canter, the chief ethics counsel at the Citizens for Responsibility and Ethics in Washington, explained to Fayyad, "it puts him in a position where he could be subjected to outside influence by foreign entities and other special interests at the cost, perhaps, of US national security or other interests."