Meet The Investors Who Lost Billions Buying Trump Stocks And Crypto

Forbes Daily Briefing

Forbes

Business, Tech News, News

4.4 • 18 Ratings

🗓️ 12 July 2026

⏱️ 7 minutes

🔗️ Recording | Apple Podcasts | RSS

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Summary

Vadim Fistikan started working at 17 and built the kind of savings that usually takes years of overtime, delayed purchases and adult restraint: more than $100,000 by the time he hit his late twenties. In 2021, the Washington State truck driver eyed a house near family in Florida, with a pool and a waterway that led to a river, and then the ocean. “We were thinking about pulling the trigger,” he says. “Then I saw this whole Trump thing going on.” This Trump thing was the Trump Media and Technology Group, the company behind Truth Social. In October 2021, the president unveiled the business, promising a censorship-free platform and giving supporters a chance to invest via a special purpose acquisition company. Shares of the SPAC jumped 1,650% in two days, then fell about 30% by the start of the third. To Fistikan, that looked less like a warning than a discount. “I’m like, ‘I’m getting in,’” says the three-time Trump voter, who added to his bet until it hit $205,000. That investment is now worth $30,000. Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:00.0	This episode is brought to you by Coca-Cola Zero, official partner of the FIFA World Cup 2026.
0:06.9	Coca-Cola has also partnered with Panini to bring fans closer to the tournament.
0:11.7	Selected Coca-Cola bottles will feature exclusive Panini FIFA World Cup 2026 stickers under labels.
0:19.2	Collect 12 exclusive stickers for the dedicated Coca-Cola double-page spread.
0:24.1	Pick up a Coca-Cola zero sugar and start collecting.
0:27.9	Peel, sip, collect.
0:30.5	Today on Forbes, quote, I'm now broke.
0:34.8	Meet the investors who lost billions buying Trump stocks and crypto.
0:40.4	Vadim Fistakan started working at 17 years old and built the kind of savings that usually
0:45.7	takes years of overtime, delayed purchases, and adult restraint. More than $100,000 by the time
0:52.9	he hit his late 20s.
0:55.1	In 2021, the Washington State truck driver eyed a house near family in Florida with a pool
1:00.7	and a waterway that led to a river and then the ocean.
1:04.2	He says, quote, we were thinking about pulling the trigger.
1:07.7	Then I saw this whole Trump thing going on.
1:13.1	This Trump thing was the Trump Media and Technology Group, the company behind Truth Social. In October 2021, the president unveiled
1:20.3	the business, promising a censorship-free platform and giving supporters a chance to invest via
1:26.1	a special purpose acquisition company, or SPAC.
1:29.8	Shares of the SPAC jumped 1,650% in two days, then fell about 30% by the start of the third.
1:38.2	To Fistakan, that looked less like a warning than a discount.
1:42.4	The three-time Trump voter says, quote, I'm like, I'm getting in.
1:47.5	He added to his bet until it hit $205,000. That investment is now worth $30,000. Fistican logged onto
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