Former President Donald Trump’s ownership in Trump Media & Technology Group Corp., the company behind the social media platform Truth Social, has surged to nearly 65%, following a significant securities award. This expansion not only solidifies Trump’s dominant position within the company but also highlights the fluctuating fortunes of his business ventures as he faces other significant legal and financial challenges.
Trump’s Growing Influence in Truth Social
According to a recent securities filing, Trump was granted an additional 36 million shares, bringing his total to 114.75 million shares, or about 64.9% of the company’s common stock. This increase from a previous 58% stake marks a notable escalation in his influence over Truth Social, a platform where he is an active participant and frequent poster.
The value of Trump’s stake, based on the current trading price, is estimated at over $5 billion. However, despite the paper valuation, he is restricted from selling any shares until September, due to a lockup agreement tied to the company’s public debut via a merger in March with Digital World Acquisition Corp., a special-purpose acquisition company (SPAC).
Trump’s Truth Social Stake Expands To Nearly 65% : Strategic Moves and Market Response
This substantial increase in Trump’s stake was contingent on the company’s performance, specifically its stock trading above $17.50 for 20 out of 30 trading days—a milestone achieved just last week. The grant of these “earnout” shares underscores the strategic initiatives aimed at enhancing the company’s market standing.
