Unlike Donald Trump, there is no doubt that Barry Diller is a very wealthy man. The billionaire television executive is worth an estimated $4.2 billion.
Diller appeared on CNBC's Squawk Box on Thursday to discuss Trump and his Trump Media Company that"has a high valuation despite not producing a profit.
Host Andrew Ross Sorkin asked, "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." Diller answered, "I think it’s a, I mean, it’s ridiculous. The company has no revenue."
Ross Sorkin would later ask, "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?"
Diller responded:
"I think they’re dopes. 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."