Court rulings and legal filings

Trump Transfers 114.75 Million Shares, 53% of Truth Social Parent, to Revocable Trust; Stock Drops 6%

Dec 20, 2024, 02:40 PM

President-elect Donald Trump has transferred his entire stake of 114.75 million shares, representing about 57% of Trump Media & Technology Group, the parent company of Truth Social, to the Donald J. Trump Revocable Trust. The shares, valued at over $4 billion, constitute approximately 53% of the company's outstanding stock. Trump is the sole beneficiary of the trust, while his son, Donald Trump Jr., serves as the sole trustee with voting and investment power over the securities held by the trust. Following the announcement, Trump Media's stock experienced a decline, dropping as much as 6% in trading on Friday. Trump now indirectly owns the shares, and no shares were sold during the transfer.