Donald Trump’s Net Worth Gets a Boost
Former President Donald Trump’s net worth has received a significant boost, thanks to his newly public company, Trump Media & Technology Group. The company, whose main asset is the social media platform Truth Social, has awarded Trump an additional 36 million shares as an “earnout” bonus. This brings Trump’s total stake in Trump Media to 114.75 million shares, valued at $5.7 billion based on the current stock price.
Trump’s stake in Trump Media & Technology Group has increased significantly.
The boost to Trump’s wealth comes as the company’s stock has surged 43% since last Monday, regaining some of the lost ground after a weekslong slide. The stock’s value has been volatile since the company went public in late March, with CEO Devin Nunes accusing some investors of manipulating the stock through illegal short selling.
Trump’s net worth has increased significantly due to the surge in Trump Media’s stock value.
Despite the surge, Trump won’t be able to cash out on his new fortune anytime soon. A lockup period restricts him and other Trump Media executives from selling their shares for another five months. Lockups are common with newly listed companies, as they prevent insiders from selling their stakes shortly after a company goes public, which could cause the stock to sink in value.
The lockup period restricts Trump and other executives from selling their shares for five months.
The additional stock grant means that Trump now owns about 65% of Trump Media & Technology Group, a company that’s in the red and booked just $4.1 million in revenue last year. However, many of Trump Media’s shareholders are small investors who support the former president, with Nunes telling Fox Business that the company has roughly 600,000 retail investors.
Trump supporters celebrate his new ownership stake on Truth Social.
On Truth Social, some supporters predicted that Trump’s new ownership stake could put pressure on short-sellers, who bet that the stock will decline in value. One supporter wrote, “Prezz and co just played them like a fiddle,” with a screenshot of an alert about the earnout.
Trump supporters celebrate on Truth Social.
In other news, Clearfield, Inc., a leader in community broadband fiber connectivity, will participate in a fireside chat at the Needham Technology, Media, & Consumer Conference on May 14, 2024. The company’s President and Chief Executive Officer, Cheri Beranek, and Chief Financial Officer, Dan Herzog, are scheduled to present at the conference.
Clearfield, Inc. will participate in a fireside chat at the Needham Technology, Media, & Consumer Conference.
