Donald Trump Secures Another $1.6 Billion Worth of Shares in Trump Media

By Jace Dela Cruz

May 02, 2024 03:41 AM EDT

Former President Donald Trump has received another $1.6 billion worth of shares in Trump Media & Technology Group, according to a regulatory filing this week.

Donald Trump Holds Campaign Rally In Michigan
FREELAND, MICHIGAN - MAY 1: Republican presidential candidate, former U.S. President Donald Trump holds his hands up during a rally on May 1, 2024 at Avflight Saginaw in Freeland, Michigan.
(Photo : Nic Antaya/Getty Images)

Donald Trump Secures an Additional 36 Million Trump Media Shares

The Associated Press reported that Donald Trump received 36 million more shares in Trump Media & Technology Group, which owns his social media platform Truth Social, based on the company's stock hitting specific price benchmarks.

This award increases the former president's total ownership to over 114 million shares worth around $5.2 billion based on Wednesday's closing stock price.

READ NEXT: Donald Trump, Ron DeSantis Met Privately in Florida to Discuss the Former President's Campaign: Report

Donald Trump Shares Consider 'Paper Wealth'

The value of these shares is currently considered "paper wealth" because Donald Trump is barred from selling any shares for at least six months following Trump Media & Technology Group's public listing without securing a waiver from the firm's board.

The former president now possesses nearly two-thirds of the company's outstanding shares. Trump Media's stock has soared in recent weeks, closing at $49.93 on Tuesday. 

READ MORE: Donald Trump Urges His Followers to Support Truth Social as Its Parent Company's Stock Continues to Dive 

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