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Headline : Donald Trump just added another $1.8 billion to his Truth Social fortune—on paper

Read more from the original article on here at fortune.com.





Tags : #donald #trump #just #added #another #18 #billion #his #truth #social #fortuneon #paper


No. of Paragraph 9

Donald Trump, on paper at least, has added another $1.8 billion to his fortune.

Trump Media & Technology Group, the parent company of Truth Social, has given its namesake another 36 million shares of the company as a bonus for the share price staying above pre-set limits, it revealed in a filing with the Securities and Exchange Commission.

The payout was expected. At current prices, the number of shares equals $1.8 billion in value, but that amount will likely fluctuate as wildly as the stock has in recent weeks. It gives Trump control of almost 65% of the company’s shares. He is, however, currently bound by lock-up restrictions and cannot cash those in, unless those are waived by the company’s board of directors.

The payout came after Trump Media shares stayed above the $17.50 mark for 20 days in its first 30 days on the market. Shares have been well above that price since they began trading, though they’ve had a wide range, ranging from a $66 high to a $22 low.

Read more from the original article on here at fortune.com.


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