Connect with us

Politics

Donald Trump will receive $1.3 billion in free Trump Media stock if the stock doesn't collapse today

Donald Trump will receive $1.3 billion in free Trump Media stock if the stock doesn't collapse today

 


Former President Donald Trump. Scott Olson/Getty Images

Trump stands to get millions more shares if Trump Media trades above $17.50 through Tuesday's session.

This would see the former president awarded an additional $1.3 billion in shares.

The stock has risen slightly this week, trading at around $34 on Tuesday.

Trump Media & Technology just needs to manage not to collapse on Tuesday for former President Donald Trump to receive an additional $1.3 billion in stock in parent company Truth Social.

Company insiders are expected to receive millions of free shares, 36 million of which will be reserved for the majority shareholder, Trump said, Bloomberg reported. The stock must trade above $17.50 by the end of the day for the reward to kick in. The stock was trading at around $34 per share as of Tuesday morning.

The bonuses to be paid to Trump Media executives are part of the special purpose acquisition agreement that took the company public, which stipulates that the stock must trade above the 17.50 mark $ for 20 days in a 30-day period, according to Bloomberg.

That would represent a $1.3 billion windfall for Trump, even though he and other insiders are still unable to cash in and sell shares due to a six-month lock-up period, although Trump Media has filed a request to authorize the sale of shares within this deadline.

Even though the benefits are still only on paper, the Earnout bonuses are a boon for Trump, who saw the value of his stocks fall through April.

When Trump Media debuted on the market in late March, the stock peaked before crashing nearly 40% in a matter of weeks. The massive drop wiped out more than $3 billion of his windfall, valued at more than $5 billion at its peak.

But that didn't remove willing buyers, a cohort made up of Trump supporters active on Truth Social, the company's social media platform.

Last week, Devin Nunes, CEO of Trump Media, lashed out at short sellers for helping to send the stock tumbling. The complaint prompted a fierce response from Citadel Securities, cited in a letter from Nunes:

“Devin Nunes is the proverbial loser trying to blame 'naked short selling' for his stock price drop,” the company said.

Read the original article on Business Insider

Sources

1/ https://Google.com/

2/ https://finance.yahoo.com/news/donald-trump-1-3-billion-232148622.html

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]