Media titan Barry Diller pulled no punches on Thursday's Squawk Box on CNBC when he was asked to weigh in on Trump Media going public last week, which added billions of dollars to former President Donald Trump's net worth.
“Not a political question about former President Trump, but actually a business question about Truth Social. You've seen the stock on the move in this., in this I'll call it remarkable, maybe even crazy way,” asked host Andrew Ross Sorkin.
“I'll say two words, 'Game Stop,'” replied Diller.
“GameStop, that's what you think is going on here?” Ross Sorkin replied.
“I think it's a, I mean, it's ridiculous. The company has no revenue,” Diller shot back.
Ross Sorkin pushed back, “But do you think it could ever be a bigger business? Do you think if he wins the presidency it becomes bigger?”
“No, why would it be bigger? Look, he's only interesting now because he's out there entertaining the folks. I hope if he does get elected, he just plays golf for four years,” Diller replied.
“So do you think that all of the investors investors in this are getting scammed? Do you think they think this is a transference of wealth from one side to the other and that’s the goal. What do you think is happening?” Ross Sorkin asked.
“I think they're dopes,” replied Diller, adding:
I mean, who would buy a company that literally has I mean, I think what does it have $30 of revenue? Why would you put a, how could you put a value on it? They’re buying it for other reasons, just like they bought theaters when there was no theater business or they bought GameStop or whatever. That’s stupid. It’s stupid stuff.
The hosts then noted that Truth Social made some revenue and Diller chimed in, “Why are you even talking about this? It's a scam. Just like everything he's ever been involved in is some sort of con.”
Watch the clip above.
