Former President’s wealth skyrockets with major stock grant from Trump media & technology group

Former President Donald Trump’s financial portfolio has significantly expanded with a staggering $1.8 billion earnout bonus in the form of 36 million shares from his company, Trump Media & Technology Group. This bonus comes as a result of the company’s stock, trading under the ticker DJT — mirroring Trump’s initials — maintaining a price above $17.50 for 20 out of 30 trading days.

With the addition of these shares, Trump now holds a total of 114.75 million shares in the company, with the current market value placing his stake at approximately $5.7 billion. This considerable figure contributes to his total net worth, which the Bloomberg Billionaires Index estimates at around $8 billion, marking a significant portion of his wealth tied to DJT shares.

Trump Media, the parent company of the social media platform Truth Social, has experienced a volatile stock performance since its public debut in late March. After reaching a high of $79.38 per share, the stock suffered a decline, prompting CEO Devin Nunes to allege manipulation through illegal short selling by some investors. However, the stock has seen a 43% increase since last Monday, with a notable rise of 7% on Tuesday alone, closing at $49.93 per share.

Despite the recent gains, Trump is subjected to a lockup period that prohibits him and other executives of Trump Media from selling their shares for the next five months. This restriction is a standard practice for new public offerings to prevent a potential drop in stock value due to immediate sell-offs by insiders.

Trump Media has reported modest financials, with only $4.1 million in revenue last year and currently operates at a loss. Nonetheless, the company boasts around 600,000 retail investors, many of whom are staunch supporters of the former president. These shareholders have taken to Truth Social to express their enthusiasm over Trump’s increased ownership, which they believe might deter short-sellers and stabilize the stock price.

As Trump Media continues to navigate its early days in the public market, the focus remains on its ability to capitalize on its unique market position and the strong backing from its investors