President-elect Donald Trump transferred his entire stake of shares in Trump Media to a revocable trust, making him the sole beneficiary. The transfer, valued at over $4 billion, does not involve any financial gain for Trump. He retains indirect ownership through the trust. This move mirrors a similar transfer Trump made before his 2017 inauguration.
President-elect Donald Trump this week transferred his entire stake of shares in Trump Media to a revocable trust of which he is the sole beneficiary, regulatory filings revealed.
Trump Media, which trades under the DJT ticker, closed at $35.41 per share, making the value of the transferred stock more than $4 billion.Because Trump is the beneficiary of the trust, he now"indirectly" owns the Trump Media shares he transferred, the SEC filing noted.Trump Media, which trades under the DJT ticker, closed at $35.41 per share Thursday, making the value of the transferred stock more than $4 billion.
The SEC filing on Thursday said that after the Trump transferred his shares, he"directly owned 0 shares of Trump Media & Technology Group Corp. and indirectly owned 114,750,000 shares of Trump Media & Technology Group Corp."The type of transfer Trump used this week is not new for the president-elect, although the dollar value of his shares outpaces the value of any assets he previously moved.
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