Trump Transfers $4B In Truth Social Shares To Trust

ABC News reports:

Shares of Trump Media and Technology Group slid in midday trading Friday after President-elect Donald Trump transferred all of his shares into a revocable trust, according to a regulatory filing.

Trump transferred all of his nearly 115 million shares — worth around $4 billion on paper — in the parent company of social networking site Truth Social as a “bona fide gift” to the Donald J. Trump Revocable Trust, the Securities and Exchange Commission filing on Thursday said. Trump’s shares amount to more than half of the company’s stock.

It’s not clear why Trump transferred the stock. Donald Trump Jr. is the sole trustee and has sole voting and investment power over all securities owned by the trust.

Read the full article. So it’s a “bona fide

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