Trump Transfers Over $4 Billion Stake in Truth Social to Trust

Investing.com -- Donald Trump transferred his 114.75 million shares in Truth Social's parent company, Trump Media & Technology, into a revocable trust under his control. This shareholdings represents a value of over $4 billion based on Wednesday's closing price of $35.41 and accounts for more than half of the company's total shares.

According to securities filings made on Thursday, Trump gifted his shares to the Donald J. Trump Revocable Trust earlier this week without any consideration. After the transfer, Trump became both the trustee and beneficiary of the shares. In another filing, Trump was listed as the "indirect" owner of the shares.

The stock of Trump Media & Technology has seen significant growth this year, doubling in value. This increase during the election period has been perceived by investors as a way to bet on Trump's potential victory.

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