Seriously, why on Earth would Donald Trump attack Top Glove on Twitter? That’s the question we should all be asking.
Find out what’s going on with Donald Trump and Top Glove, and what REALLY happened!
Top Glove In Trouble With Trump Administration
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 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.
Donald Trump Attacked Top Glove On Twitter?
After that announcement, a screenshot of Donald Trump attacking Top Glove on Twitter began spreading on WhatsApp.
It suggests that Top Glove was being targeted for being so successful, Donald Trump stepped in 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
Note : We intentionally placed a HOAX overlay on the screenshot to prevent it from being further abused.
Why Would Donald Trump Attack Top Glove On Twitter?
As genuine as that tweet may look, it is completely FAKE. Why on Earth would Donald Trump want to attack Top Glove on Twitter???
Now, you may wonder – how do you know Donald Trump didn’t do that? After all, the CBP did issue a detention order on Top Glove!
Fact #1 : Donald Trump Did Not Post Anything About Top Glove
Go and check Donald Trump’s Twitter feed – you won’t find the post at all, because it doesn’t exist.
Fact #2 : No Media Outlet Noticed It?
Donald Trump may be a buffoon, but he is a buffoon whose tweets are anxiously covered by media outlets all over the world.
If he posted any tweet about taking down the Malaysian market, or attacking Top Glove, it 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. Not on The Star, not on NST, not even on World of Buzz!
Fact #3 : Top Glove Cannot Possibly Be In Fortune 500
Fortune 500 list the 500 most profitable American companies. Top Glove is not an American company, and would never qualify for the Fortune 500 list.
It would not be logical for Donald Trump to worry about Top Glove entering the Fortune 500 list, if he has even heard of Top Glove!
Fact #4 : Top Glove Revenue Too Low To Be In Fortune 1000
Fortune 500 ranking is based on revenue for the fiscal year. While Top Glove is the world’s largest manufacturer of gloves, its annual revenue is only about US$562 million a year.
Liberty Oilfield Services is ranked #1000 in the Fortune 1000 list for 2020, with an annual revenue of US$1,990.3 million – that’s more than 3.5X Top Glove’s revenue!
Never mind about Fortune 500, Top Glove cannot even make it into the Fortune 1000 list!
Fact #5 : It Would Be Impossible For Anyone To Take Over Amazon
Amazon has a market capitalisation of US$1.46 TRILLION, with CEO and its biggest shareholder, Jeff Bezos owning 11.1% of its shares.
Anyone who wants to buy Bezos out, will need to fork out at least US$162 BILLION. Any takers?
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 hired by Top Glove 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.
They were only paid £1.08 (~RM 5.60) an hour, while being forced to work for long hours with excessive overtime. On top of that, many had to pay up to US$5000 in recruitment fees, leaving them in debt bondage.
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