close
close
Posted in

Trump awarded an additional 36 million Trump Media shares worth $1.8 billion

Former President Donald Trump this week secured another $1.8 billion worth of stock in Trump Media.


What you need to know

  • Former President Donald Trump has secured another $1.8 billion worth of stock in Trump Media, according to a regulatory filing
  • Based on the company’s shares reaching certain price benchmarks, Trump was awarded an additional 36 million shares in the company that owns his social media platform Truth Social.
  • The price brings his total ownership to more than 114 million shares, which are worth $5.7 billion based on Tuesday’s closing price.
  • Trump is banned from selling stock for six months after Trump Media went public without obtaining a waiver from the company’s board of directors
  • Less than a week after that flashy stock market debut, Trump Media announced that it lost nearly $58.2 million last year, sending its stock price plummeting more than 21%; Shares of Trump Media fell 6.5% to $46.68 in late morning trading on Wednesday


Based on the company’s shares reaching certain price benchmarks, Trump was awarded an additional 36 million shares in the company that owns his social media platform Truth Social. That brings his total holdings to more than 114 million shares, which are worth $5.7 billion based on Wednesday morning’s share price.

For the time being, the value of those shares is considered ‘paper wealth’. Trump is banned from selling stock for six months after Trump Media went public without obtaining a waiver from the company’s board of directors.

Trump, the presumptive Republican presidential nominee, now owns nearly two-thirds of the company’s outstanding shares.

Shares of Trump Media & Technology Group have soared in recent weeks, closing Tuesday at $49.93. Trump only needed the shares to be above $17.50 for twenty consecutive trading days to secure the new shares.

Trump Media gained its place on the Nasdaq after merging with a company called Digital World Acquisition Corp., a special purpose acquisition company, or SPAC. These types of mergers offer young companies faster and easier routes to getting their shares publicly traded.

On March 26, the first day of trading after Trump Media completed its merger with Digital World Acquisition, shares of the newly combined company reached nearly $80 each in intraday trading before closing at $57.99.

Less than a week after that flashy stock market debut, Trump Media announced it lost nearly $58.2 million last year, sending its shares tumbling more than 21%. The 2023 losses marked a sharp decline compared to the $50.5 million profit the company reported for 2022, according to a regulatory filing.

Over the next few weeks, the company’s shares fell to around $22 each before rebounding in mid-April.

Truth Social launched in February 2022, a year after Trump was banned from major social platforms, including Facebook and X, formerly Twitter, following the January 6 insurrection at the US Capitol. He has since recovered from both, but remains with Truth Social.

Shares of Trump Media fell 6.5% to $46.68 in late morning trading on Wednesday.