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Trump to make another $1.2 billion from Truth SocialExBulletin

Trump to make another $1.2 billion from Truth SocialExBulletin

 



Former President Trump is set to receive an additional 36 million shares in his social media company, giving him a windfall of more than $1 billion.

Anna Moneymaker/Getty Images


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Anna Moneymaker/Getty Images


Former President Trump is set to receive an additional 36 million shares in his social media company, giving him a windfall of more than $1 billion.

Anna Moneymaker/Getty Images

Former President Trump is expected to be $1.2 billion richer, at least on paper.

This windfall comes from being rewarded with an additional 36 million shares in Trump Media & Technology Group, the company behind his Truth Social app.

The shares are a bonus given to him after Trump Media trades above a certain level for a set number of days.

Trump met those criteria as markets closed Tuesday. The new shares increase his stake in Trump Media to 115 million shares, bringing the total net worth of his holdings in the company to $3.7 billion.

The value of Trump's stake has fallen sharply since the company went public in late March, after Trump Media's stock price declined.

But that's still a significant return potential given that he's the majority shareholder of a company in which he hasn't invested any money.

And Trump could use the money: He's mired in legal cases, including the hush money trial underway in New York, and he's running for the White House again.

But his current deal prevents him from selling his stake until September, although he could try to find ways to negotiate a new deal.

Sources

1/ https://Google.com/

2/ https://www.npr.org/2024/04/23/1246645808/truth-social-shares-windfall-trump-media-technology-group

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