Trump transfers all his DJT shares to his revocable trust, SEC filings show

Source: NBC News/CNBC

Dec. 19, 2024, 11:14 PM EST / Updated Dec. 20, 2024, 1:12 AM EST


President-elect Donald Trump this week transferred his entire stake of shares in Trump Media to a revocable trust of which he is the sole beneficiary, regulatory filings revealed Thursday evening.

Trump did not receive any money for the gift of his 114,750,000 shares of Trump Media stock to the Donald J. Trump Revocable Trust on Tuesday, according to a filing with the Securities and Exchange Commission. Because Trump is the beneficiary of the trust, he now “indirectly” owns the Trump Media shares he transferred, the SEC filing noted.

The president-elect’s son, Donald Trump Jr., is the sole trustee of the trust, and has sole voting and investment power over securities held by the entity, according to a separate SEC filing Thursday. Trump Media, which trades under the DJT ticker, closed at $35.41 per share Thursday, making the value of the transferred stock more than $4 billion.

Trump, who is set to be sworn in as president for a second non-consecutive term on Jan. 20, had been the largest individual shareholder in the social media company, which operates the Truth Social app. His stake represented nearly 53% of the company’s outstanding shares. CNBC has requested comment on the transfer from spokespeople for Trump and for Trump Media.

Read more: https://www.nbcnews.com/business/business-news/trump-transfers-djt-shares-revocable-trust-sec-filings-show-rcna184966