Donald Trump Secures Another $1.6 Billion Worth of Shares in Trump Media
By Jace Dela Cruz
May 02, 2024 03:41 AM EDT
May 02, 2024 03:41 AM EDT
Former President Donald Trump has received another $1.6 billion worth of shares in Trump Media & Technology Group, according to a regulatory filing this week.
The Associated Press reported that Donald Trump received 36 million more shares in Trump Media & Technology Group, which owns his social media platform Truth Social, based on the company's stock hitting specific price benchmarks.
This award increases the former president's total ownership to over 114 million shares worth around $5.2 billion based on Wednesday's closing stock price.
The value of these shares is currently considered "paper wealth" because Donald Trump is barred from selling any shares for at least six months following Trump Media & Technology Group's public listing without securing a waiver from the firm's board.
The former president now possesses nearly two-thirds of the company's outstanding shares. Trump Media's stock has soared in recent weeks, closing at $49.93 on Tuesday.
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