Trump awarded 36 million more Trump Media shares worth $1.8 billion after hitting price benchmarks

Published May 1, 2024 8:01 AM

By MATT OTT
AP Business Writer

WASHINGTON (AP) — Former President Donald Trump has secured another $1.8 billion worth of shares in Trump Media, according to a regulatory filing this week. Based on the company’s stock hitting certain price benchmarks, Trump was awarded an additional 36 million shares in the company that owns his social media platform Truth Social. That brings his total ownership to more than 114 million shares, which based on Wednesday morning’s stock price, are worth $5.7 billion. Trump Media & Technology Group shares have surged in the past couple of weeks, to more than $53 per share, well past the benchmarks set for awarding him the new shares.

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