Trump Transfers $4 Billion, 53% Stake in Trump Media to Trust Controlled by Donald Trump Jr., Shares Fall 6%

Dec 20, 2024, 12:26 PM

President-elect Donald Trump has transferred his entire 53% stake of 114.75 million shares in Trump Media & Technology Group, the parent company of Truth Social, to the Donald J. Trump Revocable Trust. This transfer, valued at over $4 billion at a share price of $35.41, occurred on Tuesday, according to regulatory filings. Trump, who indirectly owns the shares through the trust and is its sole beneficiary, did not receive any monetary compensation for the transfer. His son, Donald Trump Jr., serves as the sole trustee of the trust, possessing voting and investment power over the securities. Following the announcement, shares of Trump Media & Technology Group fell by 6% in pre-market trading on Friday, reducing the value of Trump's stake to just over $3.8 billion.