Fact Check : Donald Trump Attacks Top Glove On Twitter?

Did Donald Trump attack Top Glove to protect American companies, and prevent it from becoming a Fortune 500 company?

Find out what’s going on with Donald Trump and Top Glove, and what the FACTS really are!

Fact Check : Donald Trump Attacks Top Glove On Twitter!

 

Top Glove In Trouble With US Government : A Quick Primer

On 15 July 2020, US Customs and Border Protection (CBP) placed a detention order on disposable gloves manufactured by two Top Glove subsidiaries – Top Glove Sdn Bhd and TG Medical Sdn Bhd.

That action led to a massive sell-off in Malaysian and Singaporean bourses, with Top Glove shedding 9.63% (RM 2.10) in Malaysia and 9.18% (96 cents) in Singapore on 16 July 2020.

CBP Top Glove detention order

 

Claim : Donald Trump Attacked Top Glove On Twitter!

After that announcement, a screenshot of Donald Trump attacking Top Glove on Twitter started going viral.

It suggests that Top Glove was being targeted for being too successful, and Donald Trump wanted to protect American companies.

I’ve got to cause the Malaysian market to fall. We can’t let Topglove be a Fortune 500 company, we’ve to protect our own. Amazon shall not be taken over by some Chinese business man. #MAGA #MakeAMERICAgreatAGAIN

12:11 PM – 15 Jul 2020

Note : We intentionally placed a HOAX overlay on the screenshot to prevent it from being further abused.

Fake Donald Trump Top Glove tweet

 

Donald Trump Did NOT Attack Top Glove On Twitter : Here Are The Facts!

As our intentional placement of the HOAX overlay shows, that tweet is FAKE.

Skeptics may ask – how do you know Donald Trump did not attack Top Glove on Twitter?

Fact #1 : Donald Trump Did Not Post That Tweet

If you check Donald Trump’s Twitter feed, you won’t find the post at all. It doesn’t exist.

Donald Trump was “offline” for about 12 hours on 15 July 2020. He did not post anything after his 7:43 AM tweet, only posting on 7:39 PM when he commented about Joe Biden.

Fact #2 : No Mention Of It In Any Media Outlet

Donald Trump may be a buffoon, but he is a buffoon whose tweets are anxiously covered by media outlets all over the world.

Such a tweet, which was allegedly retweeted over 10,900 times, would have been covered by the Malaysian press, if not international media outlets.

Yet, you won’t find a single mention of this tweet online.

Trump Lifts HUAWEI Ban + Holds Off New China Tariffs!

Fact #3 : Top Glove Cannot Possibly Be In Fortune 500

Fortune 500 is an annual list of the 500 most profitable American companies. Top Glove is not an American company, and therefore, would not qualify for the Fortune 500 list.

So it would not be logical for Donald Trump to be worried about Top Glove entering the Fortune 500 list.

Fact #4 : Top Glove Revenue Too Low To Be In Fortune 1000

Fortune 500 is not based on market capitalisation, but revenue for the fiscal year.

While Top Glove is the world’s largest manufacturer of gloves, its annual revenue is only RM 2.4 billion (about US$ 562 million).

Liberty Oilfield Services is ranked #1000 in the Fortune 1000 list for 2020, with an annual revenue of US$1,990.3 million – 3.5X Top Glove’s revenue!

Never mind about Fortune 500, Top Glove cannot even make it into the Fortune 1000 list!

While there is a Global 500 list, Top Glove does not have enough revenue to qualify.

Fact #5 : It Would Be Impossible For Anyone To Take Over Amazon

Amazon is no. 2 on Fortune 500, with an annual revenue of US$280 BILLION – about 500X more than Top Glove.

On top of that, it has a market capitalisation of US$1.46 TRILLION, with CEO Jeff Bezos owning 11.1% of its shares.

Anyone who wants to buy Bezos out, will need to fork out some US$162 BILLION. Any takers?

Even Donald Trump and his entire family isn’t rich enough to THINK about buying out Jeff Bezos!

PS. Someone suggested to us that the post was written by a Chinese native who wanted to say t hat Top Glove might “overtake”, not “take over” Amazon. As you can tell – that’s not happening either.. LOL!

Fact #6 : Top Glove Detention Order Due To Labour Issues

Top Glove Managing Director Datuk Lee Kim Meow identified labour issues as the reason for the CBP detention order.

According to him, a consultant they hired narrowed down two possibilities for the detention order :

  • Passport retention of Top Glove’s migrant workers
  • Recruitment fees previously paid by their migrant workers

Fact #7 : Top Glove Was Dogged By Forced Labour Controversies

Back in December 2018, The Guardian claimed that Top Glove was subjecting their migrant workers to forced labour, forced overtime, debt bondage and other labour controversies.

Just last month (June 2020), Channel 4 News reported that Top Glove employees were forced to live in cramped conditions during the COVID-19 pandemic.

On top of that, they were only paid £1.08 (~RM 5.60) an hour, while being forced to work for long hours with excessive overtime.

The workers, who are mostly migrants, claimed that they had to pay up to US$5000 in recruitment fees, leaving them in debt bondage.

 

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