Trump is transferring nearly $4 billion from his parent company Truth Social to the trust
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President-elect Trump has transferred nearly all of his shares in parent company Truth Social to the Donald J. Trump Revocable Trust, according to a Securities and Exchange Commission filing Thursday.
Trump Media & Technology Group (TMTG) is the parent company of Truth Social, a social media app that positions itself as one of the mainstream apps like Instagram and X.
Since its listing, Trump Media has been favored by traders who view it as a speculative bet on Trump winning the November 5 election. Trump retained up to 57% ownership of the company. Before the election, his stake was worth about $4 billion.
President-elect Trump has transferred nearly all of his shares in parent company Truth Social to the Donald J. Trump Revocable Trust, according to the Securities and Exchange Commission. (REUTERS Photos/Dado Ruvic/Illustration/Reuters)
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TMTG was founded on Feb. 2021 by Trump and Andy Dean Litinsky. The company began trading on NASDAQ in March 2024.
CREW Vice President of Communications Jordan Libowitz dismissed Trump’s decision to transfer the stock, saying there are still complaints about the president-elect.
“Yes, you put it in the trust, but [he] actually did nothing to ease any fears, Libowitz told Politico. “This is like nodding in the direction of ethics without taking any real moral action.”
Truth Social’s value has increased in recent weeks as November 5 approaches. In October, the stock price rose nearly 9% to $34.17. (Allison Robbert/Pool via AP, File) / AP Newsroom)
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A spokeswoman for the Trump-Vance transition team, Caroline Leavitt, told Politico that Trump “divested himself from his multibillion-dollar real estate empire to run for office and foreclosed on his federal income, becoming the first President to lose profits while serving in the White House.”
Truth’s Social value increased dramatically in the weeks leading up to Election Day. In October, the stock price rose nearly 9% to $34.17.
The Trump campaign did not immediately respond to a request for comment from Fox News Digital.
Fox Business’ Sarah Rumpf-Whitten contributed to this report.
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