Former President Donald Trump is already the majority shareholder in Trump Media, which trades under the ticker DJT.
Former President Donald Trump is poised to receive up to 36 million additional shares of Trump Media after trading closes Tuesday.Trump Media, which owns the Truth Social app, set aside these so-called earnout shares for him if the company's stock met a minimum share price benchmark.
"Assuming the full issuance of the Earnout Shares, President Donald J. Trump will receive 36,000,000 Earnout Shares," the company said in a securities filing. The filing suggests that some, if not all, of the remaining shares will be issued to Trump Media's executive officers as part of an incentive plan.
That price rose to a high of nearly $80 that day, briefly giving the company a market capitalization of more than $9 billion. This was despite having reported a 2023 net loss of $58 million, and just $4.1 million in revenue.
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