Free Trial

President-elect Trump transfers close to $4 billion worth of his Trump Media shares to a trust

Republican presidential nominee former President Donald Trump is pictured at an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Alex Brandon, File)

Shares of Trump Media and Technology Group slid in midday trading Friday after President-elect Donald Trump transferred all of his shares into a revocable trust, according to a regulatory filing.

Trump transferred all of his nearly 115 million shares — worth around $4 billion on paper — in the parent company of social networking site Truth Social as a “bona fide gift” to the Donald J. Trump Revocable Trust, the Securities and Exchange Commission filing on Thursday said. Trump's shares amount to more than half of the company's stock.

It's not clear why Trump transferred the stock. Donald Trump Jr. is the sole trustee and has sole voting and investment power over all securities owned by the trust.

Trump Media shares were down about 2% at midday, to $34.68 each. At one point Friday, they were down around 6%.

Trump Media shares have been extremely volatile since the company began trading in March. They reached intraday highs close to $80 on the first day of trading, then slumped to all-time lows in September when Trump and other insiders were finally allowed to sell shares after standard lock-up agreements expired. Trump has not sold any shares in the company.

The company's stock price has fluctuated wildly on news — good and bad — related to Trump. They tumbled after Trump's conviction in a hush money trial in May, then surged after the first assassination attempt on Trump in July. They surged again after he won re-election in November, even as the company reported a $19.2 million third-quarter loss.

Trump created Trump Media after he was banned from Twitter and Facebook following the Jan. 6, 2021, Capitol riot.

Should You Invest $1,000 in Meta Platforms Right Now?

Before you consider Meta Platforms, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.

While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

20 Stocks to Sell Now Cover

Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.

Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Related Videos

Magnificent 7 Stocks Shift Toward Stability and Selective Growth
5 Blowout Earnings Winners That Could Soar Even Higher
Buy the Fear: 3 Down Stocks That Could 10x Your Profits

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines