Trump Transfers DJT Shares to Revocable Trust: SEC Filings Revealed
In a move that has sent shockwaves through the financial world, President-elect Donald Trump has transferred his entire stake of shares in Trump Media to a revocable trust of which he is the sole beneficiary, according to regulatory filings revealed Thursday evening. This transfer marks a significant shift in ownership and control of one of the largest media companies in the country.
What Happened?
Trump made the decision to gift his 114,750,000 shares of Trump Media stock to the Donald J. Trump Revocable Trust on Tuesday, as indicated by a filing with the Securities and Exchange Commission. This transfer means that Trump now “indirectly” owns the shares he transferred, with his son, Donald Trump Jr., serving as the sole trustee of the trust, holding voting and investment power over the securities.
Implications of the Transfer
The value of the transferred stock, with Trump Media trading under the DJT ticker, stands at over $4 billion, further solidifying Trump’s financial stake in the company. As the largest individual shareholder in the social media giant, Trump’s ownership represented nearly 53% of the company’s outstanding shares, highlighting his significant influence in the company’s operations.
Reactions and Future Plans
While CNBC has reached out for comments on the transfer from Trump and Trump Media spokespeople, the SEC filing confirmed that Trump now directly owns zero shares of Trump Media & Technology Group Corp. This transfer is not new for Trump, who has utilized similar methods in the past with his real estate holdings and assets.
Despite the transfer, Trump has not held an executive position in Trump Media, which recently began trading publicly after a merger with Digital World Acquisition Corp. Trump has also nominated key figures from Trump Media to high-level positions in his administration, showcasing the interconnectedness of his business and political endeavors.
With Trump set to be sworn in for a second non-consecutive term as president on Jan. 20, the implications of this transfer on his financial interests and political decisions remain to be seen.
As the world watches this unprecedented move unfold, one can’t help but wonder about the motivations behind Trump’s decision and the potential impact on both Trump Media and the broader media landscape. Will this transfer signal a new chapter in Trump’s business dealings, or is it a strategic move ahead of his return to the White House? Only time will tell.
