Trump Maintains Ownership of 114.7 Million DJT Shares, Ownership Decreases to 52.9%
A recent filing with the SEC reveals that President-elect Donald Trump has not sold any shares of his media company, Trump Media and Technology (TMT). Trump Media has been quite volatile in 2024, often mirroring the President-elect’s political fortunes. Trump had pledged not to sell any TMT shares before the election, and the latest SEC filing confirms that he still holds 114 million shares of the company.
Despite holding the same number of shares, Trump’s percentage stake in TMT has decreased, with him now owning 52.9% of the 216 million outstanding shares, down from 64.9% earlier this year. TMT’s stock had lost all gains made since mid-December 2023 by September but has since surged by 196%, especially after peaking at $51 in late October.
Speculation that Trump might sell his TMT shares has been a hindrance to the stock’s performance this year. However, the SEC filing affirms that Trump has kept his word and has not sold any shares. Instead, control of the stock has been transferred to his son, Donald Jr., who is now the trustee of the Donald J. Trump Revocable Trust.
Although TMT is not yet profitable, it plays a significant role in US politics as a primary communication platform for Trump after his fallout with Twitter. The firm claims to be on the path to profitability and plans to expand its new TV streaming platform, Truth+, with $372 million in unaudited cash holdings.
In the year-to-date, Trump Media’s shares have seen a remarkable 106.8% gain, bringing the firm’s market capitalization to $7.83 billion, making President-elect Trump a billionaire due to his investment in the company. Trump’s relationship with TMT, either directly or indirectly through stock holdings, continues to be a crucial factor in the valuation of the company and its performance on the market.
