ADVERTISEMENTs
.png)
Trump transfers his stake in Trump Media to revocable trust
His stake in the company was valued at more than $4 billion based on the stock's last closing price of $35.41.
The Nasdaq Market site is seen on the day that shares of Truth Social and Trump Media & Technology Group start trading under the ticker "DJT", in New York City, U.S., March 26, 2024. / REUTERS/Shannon Stapleton
U.S. President-elect Donald Trump has moved the stake he owns in Trump Media & Technology to a revocable trust.
Trump transferred 114.75 million shares, or 53 percent of Trump Media & Technology's outstanding stock, to the revocable trust of which he is the sole beneficiary, according to securities filings.
His stake in the company was valued at more than $4 billion based on the stock's last closing price of $35.41.
Trump said in November that he had no intention of selling his shares in the company, which owns the Truth Social media platform.
Trump's eldest son, Donald Trump Jr., is the sole trustee of the trust and has sole voting and investment power over securities held by it, according to the securities filings.
Trump Media has a market capitalization of around $7.7 billion as retail traders bet on the stock as a proxy of Trump winning the 2024 U.S. presidential election.
The company's shares were down 4 percent at $33.86 on Dec. 20.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
E Paper
ADVERTISEMENT
.jpg)
Video
.jpg)
.jpg)
.jpg)
Comments
Start the conversation
Become a member of New India Abroad to start commenting.
Sign Up Now
Already have an account? Login