President-elect Donald Trump transferred his entire stake of shares in Trump Media to a revocable trust of which he is the sole beneficiary this week. The transfer of 114,750,000 shares did not result in Trump receiving any money, but as the beneficiary of the trust, he now indirectly owns the shares. The value of the transferred stock, which closed at $35.41 per share, amounts to over $4 billion.
Trump had been the largest individual shareholder in the social media company, which operates the Truth Social app. His stake represented nearly 57% of the company’s shares. After the transfer, Trump directly owned 0 shares of Trump Media & Technology Group Corp and indirectly owned 114,750,000 shares.
This type of transfer is not new for Trump, as before his first inauguration in 2017, he made similar transfers of assets to the same revocable trust. The documents also show that Trump made transfers to the trust in February 2016 while campaigning for president.
Overall, the transfer of shares to the revocable trust is a common practice for Trump, as it allows him to maintain control over his assets while serving as president. The recent transfer of his Trump Media shares further solidifies his financial interests within the company.
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