President-elect Donald Trump has transferred his entire stake in Trump Media & Technology Group (TMGT) to a revocable trust, according to a filing with the SEC. The transfer, which includes 114.75 million shares of TMGT, is valued at over $4 billion based on the closing price of $35.41 per share on Thursday.
This move effectively removes Trump’s direct ownership in the social media firm, while he continues to hold an indirect stake through the trust. His 50% ownership in the company remains intact. The trust is managed by Trump’s eldest son, Donald Trump Jr., who holds exclusive rights to vote and invest on behalf of the trust.
The transfer, which marks Trump’s largest such move to date, follows a common practice among investors to streamline tax reporting and increase flexibility. Trump had previously made similar transfers involving real estate holdings in 2016 and 2017.
Trump Media is the parent company of the Truth Social platform, positioned as an alternative to platforms like X. Earlier this year, the company went public following a merger with a special purpose acquisition company (SPAC).
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