News Analysis India

Tag: US presidential elections

  • Can Donald Trump Still Become US President If Convicted In Hush Money Case? , world news

    NEW YORK: Former President Donald Trump made history as the first former US president to stand trial in a criminal case. He faced charges in a New York court concerning allegations of concealing hush-money payments made to adult film star Stormy Daniels. The outcome of this trial begs the question: How might a potential conviction affect Trump’s aspirations for another presidency?

    What’s The Hush Money Case?

    The trial revolves around a USD 130,000 payment made to Daniels in October 2016, orchestrated by Trump’s then-lawyer, Michael Cohen, purportedly to maintain her silence about an alleged sexual encounter with Trump. Initially denying involvement, Trump later admitted to reimbursing Cohen, characterizing the transaction as a “simple private transaction.” However, Cohen’s subsequent guilty plea and testimony suggested that Trump’s company mislabeled the payment as a legal expense, prompting prosecutors to allege campaign finance violations.

    Charges Against Trump

    Trump faces 34 felony charges for falsifying business records, with each charge carrying a maximum sentence of four years’ imprisonment under New York law. However, as a first-time offender, Trump is less likely to receive a harsh sentence, with alternatives such as fines, probation, or home confinement being more plausible outcomes. Given his status as a former president and the logistical challenges of incarcerating him, even if convicted, Trump may remain free on bail during the appeals process.

    Trump’s US Presidency

    Despite facing criminal charges, there are no legal barriers preventing Trump from pursuing another presidential bid. The US Constitution outlines minimum eligibility requirements, focusing primarily on age and citizenship. Even if convicted, Trump could theoretically assume the presidency from prison or home confinement if elected.

    Efforts to bar Trump from electoral ballots based on criminal convictions may face legal hurdles, as adding additional requirements beyond those specified in the Constitution could be deemed unconstitutional. Trump has often framed legal challenges as part of a broader conspiracy, leveraging them to galvanize his supporters and boost campaign contributions.

    However, public perception remains a significant factor. Recent polls indicate that a substantial majority of voters, including a notable portion of Republicans, view the charges against Trump as serious. A conviction could sway voter sentiment, potentially impacting his electoral prospects.

  • Donald Trump Loses USD 1Bn In Net Worth As Stock Value Of His Media Firm Dips | world news

    New York: In a huge setback for former US President Donald Trump, his media venture, Trump Media & Technology Group, faced a substantial plunge in its stock value, leading to a staggering USD 1 billion loss in his net worth, as reported by CNN. .

    Financial Struggles Hit Trump’s Venture

    The decline followed the disclosure of dismal financial figures, with Trump Media reporting losses of over USD 58 million and minimal revenue generation in 2023. With Trump’s majority ownership in the company, its performance directly impacted his wealth.

    Analysts Question Valuation

    Analysts have raised concerns about the valuation of Trump Media, comparing it to speculative meme stocks. They noted a sharp contrast between its 2023 financial performance and previous years, with significant losses and minimal revenue growth.

    Stock Plummets Despite Earlier Surge

    Despite a surge of nearly 200 per cent in the shares since the beginning of the year, Trump Media’s stock value plummeted by 21 per cent on Monday. Trump’s stake in the company decreased from a peak of USD 6.3 billion to approximately USD 3.8 billion.

    Doubts About Sustainability

    The severity of the losses prompted doubts about the company’s ability to continue as a going concern. Accountants warned that without significant changes, Trump Media might struggle to stay afloat, despite a recent merger injecting USD 300 million in cash.

    While some experts believe the cash infusion could provide a lifeline for Trump Media, others caution that sustained warnings about the company’s viability raise concerns. Addressing substantial losses is crucial for long-term sustainability.

    Challenges Ahead For Trump Media

    Despite being valued at up to USD 11 billion by Wall Street, Trump Media faces challenges such as declining user engagement on its flagship product, Truth Social. While the completion of a merger offers temporary relief, addressing underlying challenges is essential for long-term viability. With the 2024 presidential election approaching, its success may depend on capitalizing on digital advertising opportunities.