Trump’s Bold Move: Transferring $4 Billion Stake in Trump Media
In a surprising turn of events, President-elect Donald Trump has transferred his entire stake of shares in Trump Media to a revocable trust, regulatory filings revealed on Thursday evening. This move has sparked widespread interest, with many wondering what this means for the future of the social media company.
A Gift Worth Billions
Trump did not receive any compensation for the transfer of his 114,750,000 shares of Trump Media stock to the Donald J. Trump Revocable Trust on Tuesday. According to a filing with the Securities and Exchange Commission, the value of the transferred stock is a staggering $4 billion, based on the company’s closing price of $35.41 per share on Thursday.
Trump’s Dominant Stake
Prior to the transfer, Trump was the largest individual shareholder in Trump Media, holding nearly 57% of the company’s shares. The company, which operates the Truth Social app, has been a significant player in the social media landscape.
What’s Next for Trump Media?
This development raises questions about the future of Trump Media and its operations. As the company continues to evolve, one thing is clear: Trump’s decision to transfer his stake will have far-reaching implications.
Stay Ahead of the Curve
Stay tuned for further updates on this breaking news story. With the world of finance and business constantly evolving, it’s essential to stay informed about the latest developments.
Leave a Reply