[[{“value”:”President Trump continues to become wealthy despite facing a number of legal issues in New York.
President Trump just received a boost in wealth thanks to his open company, Trump Media &, Technology.
Forbes updated their list of billionaires ‘ net worths, and President Trump’s increased from$ 2.2 billion to$ 5.1 billion because of his ownership of Truth Social. pic. twitter.com/mIhNm9jwSF
— The TRUMP PAGE ( @MichaelDeLauzon ) April 29, 2024
The company’s major asset is the social media platform Truth Social.
CBS News adds more on the story:
According to a Tuesday governmental filing, the company gave Trump an additional 36 million shares as an “earnout” bonus for the stock staying above$ 17.50 per share for any 20 trading days during a 30-day trading day period.
Trump Media has had a bumpy road since going public in late March, with the stock immediately rising to a peak of$ 79.38 per share followed by a steep decline that led to CEO Devin Nunes accusing some investors of manipulating the stock through an illegitimate form of short selling.
But since last Monday, the stock has surged 43 %, regaining some of that lost ground. Shares on Tuesday rose$ 3.24, or 7 %, to$ 49.93.
President Trump now controls 114.75 million shares of Trump Media, which values his stake at$ 5.7 billion.
Bloomberg Billionaires Index adds more on President Trump’s shares:
According to the specific purpose acquisition company Digital World Acquisition Company’s February 2024 S-4/A filing, Trump owns 114.75 million shares of the social media company Trump Media and Technology Group. That includes 36 million earnout shares added on April 23, 2024, causing a$ 1.2 billion jump in Trump’s net worth.
However, President Trump will not be able to enjoy his new cash flow due to the lockup period.
For an extra five months, President Trump and other Trump Media executives are unable to sell their shares.
The lockup period is typical for newly listed companies because it prevents insiders from selling their stakes immediately after the company goes open, leading to a drastic drop in the stock.
Some people have taken to X to express their opinions of the news:
As a result of the continued success of the Trump Media &, Technology Group, which trades under the ticker” DJT,” former president Donald Trump’s net worth increased by$ 1.8 billion on Tuesday.
NYC judge fines Trump$ 9K pic. twitter.com/MFK4Yw9vRK
— Mark Nantz ( @BullseyeBanjo ) May 1, 2024
Trump tripled his shield worth because the Democrats believed they were going to bankrupt him.
Trump rarely misses. pic. twitter.com/XNWk0IN6KY
— Daily Trite ( @realDailyTrite ) May 1, 2024
Funny, I did n’t see a single tweet today laughing at Trump’s falling net worth…wonder why … pic. twitter.com/CVXnvNjMMV
— Waffle Ladders ( @waffle_ladders ) May 1, 2024
President Trump may have to deal with ridiculous false accusations, but he still manages to run a successful business. We can finally see what he certainly can do without being hampered by the Left.”}]] [[{“value”:”
Despite dealing a number legal issues in New York President Trump continues getting richer.
Trump Media & Technology, the public company that President Trump owns, has recently seen its wealth increase.
Forbes updated their list and President Trump’s net worth went from $2.2 billion dollars to $5.1 billion dollars due to his ownership of Truth Social. pic.twitter.com/mIhNm9jwSF
The TRUMP PAGE @MichaelDeLauzon April 29, 2024
Truth Social, the company’s social media platform, is its main asset.
CBS News has more to say about the story.
According to a regulatory filing on Tuesday, the company gave Trump 36 million additional shares as a “earnout” reward for keeping the stock above $17.50 per share for 20 trading days in a 30-day period.
Since going public late March, Trump Media’s stock has had a bumpy ride. The stock first surged to a high of $79.38 a share, then fell for a few weeks, prompting CEO Devin Nunes accuse investors of manipulating stock through illegal short selling.
Since last Monday, however, the stock has soared by 43%, regaining a portion of its lost ground. Shares rose by $3.24 or 7% to $49.93 on Tuesday.
Trump Media now has 114,75 million shares in its ownership. This puts the value of his stake at $5.7 Billion.
Bloomberg Billionaires Index has more to say about President Trump’s shares
According to the S-4/A filed by Digital World Acquisition Company, a special purpose acquisition company owned by Trump Media and Technology Group in February 2024, Trump owns 114.75 millions shares of social media company Trump Media and Technology Group. This includes 36 million additional earnout shares that were added on April 23, 20,24, causing Trump’s networth to increase by $1.2 billion.
Due to the lockup, President Trump won’t be able to take advantage of his new cash flow.
President Trump and other Trump Media executives will be unable to sell shares for another five months.
Lockup periods are common for newly listed companies. They prevent insiders from selling shares shortly after the company is public. This causes the stock price to plummet.
Many people have used X to express their reactions to the news:
The net worth of former President Donald Trump grew by $1.8 billion Tuesday, thanks to the continued success of Trump Media & Technology Group. This company trades under the ticker DJT.
NYC judge fines Trump $9K pic.twitter.com/MFK4Yw9vRK
— Mark Nantz (@BullseyeBanjo) May 1, 2024
The Democrats thought that they would bankrupt Trump, but instead he tripled the value of his net worth.
Trump never misses. pic.twitter.com/XNWk0IN6KY
Daily Trite (@realDailyTrite), May 1, 2024
Funny, I didn’t see a single tweet today laughing at Trump’s falling net worth…wonder why… pic.twitter.com/CVXnvNjMMV
Waffle Ladders @waffle_ladders May 1, 2024
While he has to deal with ridiculous bogus accusations, President Trump can still run an effective business. Hopefully we will be able see what he truly is capable of without being hampered by the Left.
“}]]
