Truth Social Parent’s Stock Drops 6% After Donald Trump Moves His $4 Billion Stake To A Trust [Forbes]
New York Times Company (The) (NYT)
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Source: Forbes
regulatory filing—raising the possibility his shares could be traded during his presidency by his oldest son—causing shares in the Truth Social parent to slide 6% while cutting about $200 million from the president-elect's net worth. The transferred stock was valued at over $4 billion before trading opened. Getty Images Key Facts Shares of Trump Media decreased to just over $33 as trading opened Friday, lowering the value of Trump's stake from $4 billion on Thursday to just over $3.8 billion. Trump transferred his 114.75 million shares of Trump Media to the Donald J. Trump Revocable Trust on Tuesday, according to a Securities and Exchange Commission filing Tuesday. By moving his stake to the trust, Trump now “indirectly” owns the shares, and his son, Donald Trump Jr., is the sole trustee with voting and investment power over securities held by the trust, according to a separate SEC filing. Trump has said he had no plans to sell his shares in the company, though as The Ne
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