Trump's Media Company Hands Ex-President 36M DJT Shares Worth $1.8B, Pushing His Stake Beyond $5.7B
Portfolio Pulse from Benzinga Neuro
Former U.S. President Donald Trump received 36 million shares from Trump Media Technology Group (NASDAQ:DJT), increasing his stake to over $5.7 billion. The shares, valued at $1.8 billion, were awarded as an earnout bonus for maintaining the stock price above $17.50 for 20 consecutive days. Trump Media, owner of Truth Social, went public in March, and Trump is the largest shareholder. The stock surged 50% in the past week, closing at $49.93, up 6.94%.
May 01, 2024 | 10:58 am
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Trump Media Technology Group awarded Donald Trump 36 million shares, boosting his total stake to over $5.7 billion. The stock closed at $49.93, reflecting a 6.94% increase.
The substantial share bonus awarded to Trump significantly increases his stake in the company, indicating strong confidence in its future performance. This, combined with the stock's recent surge, suggests a positive short-term impact on DJT's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100