According to recent securities filings, President-elect Donald Trump has transferred his significant holdings in Trump Media & Technology into a revocable trust. This move involved shifting approximately 114.75 million shares, which constitutes 53% of the company’s outstanding stock, into the trust for which Trump remains the sole beneficiary.
The valuation of Trump’s stake is impressive, with an estimated worth exceeding $4 billion, based on the last closing stock price of $35.41. Despite this significant transfer, Trump had previously indicated in November that he had no plans to sell his shares. This is particularly relevant as the company is the owner of the Truth Social media platform.
A notable aspect of this arrangement is that Donald Trump Jr., his eldest son, is designated as the sole trustee of the trust. He has exclusive authority over voting and investment decisions concerning the trust’s holdings, according to the filings.
Trump Media has garnered a strong market presence, currently holding a market capitalization of roughly $7.7 billion. This valuation reflects the optimism of retail traders who consider the stock a potential indicator of Trump’s success in the upcoming 2024 U.S. presidential election.
However, the company’s shares did see a dip, closing down 4% at $33.86 on Friday. This adjustment is part of the dynamic nature of stock trading and market reactions.
