Marjorie Taylor Greene Slams Mike Johnson's Ukraine Aid Proposal

-Good night. I'm Seth Meyers. This is "Late Night." We hope you are well. And now, if you don't mind, we'll move on to the news. While speaking yesterday about his efforts to reduce health care costs with Vermont Senator Bernie Sanders, President Biden said, quote, "Bernie and I have been doing this work for a long time. I know we don't look like it." And boy, did they laugh a lot at that. In an interview yesterday, Republican Congresswoman Marjorie Taylor Greene criticized House Speaker Mike Johnson's

proposal

to help Ukraine, saying, quote, "We don't know who Mike Johnson is anymore." Well, I guess I'm a trendsetter because I never knew who Mike Johnson was in the first place.

Hedge fund billionaire John Paulson will host a fundraiser Saturday in Palm Beach for former President Trump, featuring former first lady Melania Trump. Oh it's good. That will give these two some time to catch up. Mel, you look great. Have you been exercising? Ahead of this weekend's Trump fundraiser in Palm Beach, organizers are offering attendees the chance to sit at former President Trump's table during dinner if they donate more than $824,000. And even though it's a lot of money, it's still Eric's only chance. Former President Trump posted on Truth Social and boasted about the platform's success, which immediately went viral.

A Florida man was recently charged with reckless driving after he allegedly put his car on cruise control and stepped through the sunroof. Come on, it's Florida. I'm surprised they don't have a lane for that. A woman rock climbing with her cat in Colorado was recently rescued after becoming trapped on a mountain. Okay, well, after SHE got stuck on a mountain. Cat said, "Do you mind if I go?" "I can get off a mountain." In honor of National Burrito Day, restaurant chain Qdoba is offering customers a free burrito with the purchase of an entree and a drink.

Oh yes, Mexico may have invented the burrito, but it was the United States that made it a side dish. According to new research, brown rats arrived in North America in 1740, about 40 years earlier than previously believed. This week, in a very special "Finding your roots." And finally, according to new data, crime in New York subway stations is down 23% compared to last year, because even criminals have places where they belong. And that was a monologue, y'all! We're underway and we have a great one for you tonight. She is one of the best SNL cast members of all time and this weekend she will return to host for the fifth time.

Kristen Wiig is here, everyone! What about that? And he's a fantastic comedian, actor and director who you know from "Trainwreck," "Sleepwalk With Me," "The Old Man and The Pool" and many others. She is the subject of the documentary special "Good One: A Show About Jokes," streaming now on Peacock. My very good friend Mike Birbiglia will also be joining us. But before we get to all that, Donald Trump's net worth plummeted by more than $1 billion after the stock price of his struggling social media company fell more than 20% amid huge losses in a legal battle between Trump and his co-founders. and now investors are betting millions that the company will collapse.

To learn more about this, it's time for "A Closer Look." ♪♪ Presidents of both parties love to brag about the success of the stock market. In fact, Trump cares so much about the performance of the stock market that he has tried to take credit for its success after leaving office. But even its biggest supporters, like Fox host María Bartiromo, don't believe it. -Biden's team can say, well, if things are so bad, how come the stock market is on a roll? -Because they think I'm going to be chosen. -Do you think the stock market is going up because people believe you will be elected? -Yes Yes. -Not even María Bartiromo believes it.

Look at her face. She is so surprised that she turned into Rudy. By the way, if you invested $20 in us using the Rudy Eyes chart five years ago, you would be a millionaire right now. That's the face you make when a friend tells you that the Mets are going to win it all this year. "Do you think the Mets are going to win the World Series?" "Yeah, yeah. They started 0-5 on purpose, to lull the rest of the league into a false sense of security. And then when everyone lets their guard down, they pounce on them... and they just lost again.

Oh. ..it's all part of the plan." All presidents do this. Trump just takes it to absurd extremes, as he always does. But the stock market is not the real economy. On the one hand, the richest 10% of Americans own 93% of the stocks. Although you don't need a study to tell you that. Just go to any dinner party in Manhattan. I can't tell you the number of times I've sat next to someone talking to me about margin calls and options trading, and I don't know what any of those terms mean, which is why every time I'm invited to a Now at a dinner party, I always RSVP with a note that says, "Please seat me next to your dumbest guest." "Oh, and there's my name tag.

Oh, hello, Mr. Mayor." "Are you going to eat the bun? If not, I'll take it home in my pocket." The stock market doesn't fully reflect the underlying health of the economy, and there's no better current example of that than Trump Media and Technology Group, the parent company of Trump's small, troubled Twitter scam, Truth Social. When the company went public last week, it skyrocketed to shocking levels, even though it lost money and users, which in turn vastly inflated Trump's net worth on paper. -More breaking news tonight about Donald Trump. His media company, which of course includes Truth Social, soared on its first day of trading on NASDAQ, rising 56% at one point during trading to $78 per share before closing at $58. -Trump now owns 60% of the new Trump Media company, or approximately $78 million per share, a stake that, on paper at this point, is worth $4.6 billion. -The more stocks rise, the higher Donald Trump's net worth.

As of yesterday's close, Trump's net worth, according to Bloomberg, was just over $7 billion. On Monday alone it increased by $4 billion. -That's how it is. Trump's net worth increased by $4 billion in one day. Here's actual footage of me waking up to that news. -He can't continue getting away with this! -Now, to be clear, that's just on paper. These are unrealized achievements. Donald Trump can't spend or borrow that money yet, even though you know Donald Trump doesn't see it that way. When Trump found out that his net worth had increased by $4 billion, he immediately ran out, buying a Ferrari, a pool of Scrooge McDuck money, and a beautiful new head of hair.

The only way Trump would admit the money wasn't real is if Rudy asked Trump to pay his outstanding legal bills. "I made 4 billion dollars this week, honey." "That's great, boss. Now you can finally pay me?" "Actually, Rudy, that's just on paper. Those are unrealized profits that I legally can't spend or borrow until the six-month lock-up period has expired, or until the board votes to let me withdraw money. I'm heartbroken , Rudy, I really am." "Oh, I'll be fine, boss. Seth Meyers gave me the muffin from him." Again, this is all paper money so far. It's not real yet.

Just as easily as Trump's net worth rose, it can fall again, which is partly what happened Monday when the stock price fell. -Truth Social hit the NASDAQ hard last week, but is now taking hits. The stock, which trades as DJT, lost approximately $4 billion in value in its first week of trading. -The company's shares fell more than 20% and Donald Trump's net worth fell by more than $1 billion. -That's right, his net worth fell by a billion dollars in one day. He basically lost Taylor Swift's entire net worth. And by the way, she got that money. That's not theoretical.

You can purchase private jets with your debit card. And she made that money writing and acting, not by putting her name on a Twitter scam that made her lose money. Although he could definitely do that. I would be first in line to sign up for a new social media app called TayTok. I would do that. I would do that. So why did stocks suddenly start sinking? Well, reality probably caught up with him. The company's value was completely divorced from its underlying business. -So here are the latest figures that worry investors. Truth Social's owner, Trump Media, lost $58 million last year and generated very, very little revenue, just $4.1 million.

And some of this is not surprising, because we know that Truth Social is struggling. I mean, it's shrinking. US monthly active users on iOS and Android decreased 51% year over year. I think all of this just underlines why there are a lot of warnings about this stock, right? A teacher told me it's a bubble. Another basically called it meme stock. -There is no way for Trump to know what a meme stock is. He probably doesn't even know the word "meme." "I own it and it has my name. It's a yo-yo action." Thus, the company lost 58 million dollars and more than half of its users.

And yet, when it went public, it was initially valued at more than $7 billion. I'm sure you're wondering, how is that possible? Well, actually there is a perfectly reasonable explanation, but it involves a lot of complex financial jargon and some obscure and very technical macroeconomic principles that will take me a long time to explain, so do your best to follow it. Ready? The stock market is bullish. By calling it a meme stock, experts are basically comparing Trump's stock to GameStop, a stock whose price online investors inflate beyond its underlying value. But in the case of GameStop, at least there was a real deal.

Here's how a commenter on the infamous WallStreetBets subreddit explained the situation. "If you invest in this long enough, you'll lose everything. If you think Donald Trump is going to create a revenue-positive social media platform, you're a complete moron." Now, to be fair, that's not just one guy's opinion. He is quoting the company's slogan. Agree or disagree, you have to love the hard wisdom of Reddit investors. Journalists and financial experts from major media outlets carefully parse his words and say things like, "The fundamentals of the business do not support the current market capitalization of the publicly traded securities." If Reddit guys ran CNN, the headline would read: "This is worthless, mother." And here is the real sign that everyone knows that Trump's actions are actually worthless.

Investors are betting against it. The New York Times reported this week that "traders are betting millions that Trump's media will fall." In fact, Truth Social's parent company is a popular target for short sellers. Short sellers bet that the price of a stock will fall. They do this by borrowing shares of a company and selling them on the market, hoping to buy them back later at a lower price, before returning the shares to the lender and pocketing the difference as profit. Again, there's no way Trump understands any of that. He guaranteed that when Trump's aides told him that investors were shorting his stock, he thought they meant that short people were buying his stock. "Look, I don't like the man, but I'll gladly take an investment from Ron DeSantis.

He can keep his profits in his little white boots. We love little white boots." And yes, as if Trump's stock needed any more reasons to go down in flames, on top of everything else, it's now the subject of a contentious legal battle in which Trump is basically trying to oust the company's co-founders so he can stay. with the actions for himself alone. -The former president is suing the co-founders of Truth Social in an effort to prevent them from holding shares in the company. The former president's lawyers claim Andy Litinsky and Wes Moss made a series of costly mistakes that delayed the company's IPO.

Trump's legal team asked the judge to strip both men of their shares in the company. This after Litinsky and Moss filed a lawsuit in February alleging that Trump and other leaders planned to dilute their shares before a merger, which would allow the company to go public. -How many court battles can a person have?! This guy is in court more than this lady. This is what happened. Basically, these guys took the deal to Trump. They took the company public and, in the process, basically threw a fewHow many billions in paper money. And Trump is now thanking them by filing a lawsuit to take away their shares.

Dude, just take the W. Your company is worthless. This is like Alaska Airlines suing the passenger who sat next to the open door. "You should thank us for the extra legroom." The stock market is a casino. It is not the real economy. Trump's silly social media venture is just the latest example of that. And now investors are betting millions that stocks will crash. It's kind of like that scene from "The Social Network," except in this case, the only thing better than Trump losing $1 million is Trump losing: -$1 billion. This has been "A Closer Look." ♪♪ We'll be right back with Kristen Wiig, everyone!