Celebrity, Again
Two-plus years ago, we wouldn’t have predicted that meme stocks would cross into the world of celebrity packaged goods. But here we are.
Donald Trump’s Truth Social started trading outside its SPAC this week with a ticker symbol of DJT. No reference of the social network, just of the celebrity behind it. And it’s trading at absurd levels.
We’ll avoid commentary on the performance of the stock, but it reminds of us one of our earliest newsletters, when GameStop was a “thing” and so was “Dogecoin:”
We’re turning stocks into memes and memes into currency.
We’ve taken this to a next level of expression, and, perhaps, this becomes the future of celebrity packaged goods. Why sell vegan Mac and Cheese or go after Hershey’s with your own chocolate bar company when you can sell shares of your name, image or likeness?
Trump, to be clear, isn’t selling that. But the ticker symbol is the most concrete example that personal brands can be monetized off of their future likelihood to be monetized.
You don’t need a CPG brand for that. Only the belief from investors that maybe you’d use a CPG brand for that.
As NIL deals in college sports only continue to gain steam, there’s far more world to explore how celebrities monetize themselves. College athletes, in fact, might press the boundaries here more than traditional celebrities. They have less to lose and stand to benefit more from upfront cash. But if they do it, it will show a path that may be more enticing.