Barstool founder Dave Portnoy’s once-staunch help of President Trump suffered a intestine punch this week after the president’s tariff implementation plunged Portnoy’s inventory portfolio “within the sh–ter.”
Portnoy revealed Thursday he misplaced $7 million in inventory and cryptocurrency worth within the wake of Trump’s imposition of a ten% baseline tariff on imported items and harsher “reciprocal” levies on dozens of nations.
“I’m down 7 million bucks in shares and crypto,” Portney stated within the clip extensively circulated on social media.
“It’s tariff metropolis. Trump has put his tariffs in every single place. I’ve been making an attempt to grasp them — I don’t,” the digital media firm boss stated.
“Prefer it’s extra a commerce deficit tariff. To me, like, ‘Hey, we get this a lot s–t from you, and also you get this a lot from us. Let’s even that up. Let’s get some wacky components, do tariffs. And all the things’s within the sh–ter due to it,” he stated within the clip.
Regardless of the substantial loss, Portnoy — who has an estimated $100 million internet price — admitted he’ll proceed to face by his man.
“I voted for Trump. I feel he’s a sensible man. . . . I feel he’s taking part in a high-stakes recreation right here. I’m gonna roll with him for a pair days, a pair weeks,” he continued. “I’m going to present Trump the advantage of the doubt.”
Portnoy has been more and more vital of Trump in latest weeks, particularly surrounding Sign-gate.
Trump’s sweeping tariffs defined
In a video message to the president final week, the Barstool Sports activities proprietor insisted heads ought to roll after his administration by accident invited Atlantic journal editor-in-chief Jeffrey Goldberg to a personal, encrypted Sign chat named “Houthi PC Small Group” the place they deliberated over plans to assault the Yemen-based terrorist group — a catastrophe he referred to as “a f–ok up of epic proportions.”
“Hear, we’ve all texted the fallacious particular person. We’re not the secretary of protection, we’re not the nationwide safety advisor, we’re not the vp of america,” Portnoy stated.
“Yeah, errors occur. This one can’t.”
Portnoy additionally revealed final month that Trump supplied him a gig in his administration’s Commerce Division, which he declined as a result of it will have meant stepping away from Barstool Sports activities.
