President-elect Trump transferred almost all his shares in the parent company of Truth Social to the Donald J. Trump Revocable Trust, according to a filing on Thursday.
Trump Media & Technology Group (TMTG) is the parent company of Truth Social, a social media app that positions itself as an alternative to mainstream apps like Instagram and X.
Since its listing, Trump Media has been popular with traders who viewed it as a speculative bet on Trump winning the Nov. 5 election. Trump has maintained up to 57% ownership of the company. In the lead up to the election, his stake was worth almost $4 billion.
President-elect Trump transferred almost all his shares in the parent company of Truth Social to the Donald J. Trump Revocable Trust, according to a Securities and Exchange Commission filing. (REUTERS/Dado Ruvic/Illustration / Reuters Photos)
TMTG was founded in Feb. 2021 by Trump and Andy Dean Litinsky. The company started trading on the NASDAQ in March 2024.
CREW Vice President for Communications Jordan Libowitz bashed Trump’s stock transferal decision, saying that there are still ethical concerns for the president-elect.
“Yes, he put it in a trust, but [he] basically did nothing to assuage any ethical fears,” Libowitz told Politico. “This is like a head nod in the direction of ethics without taking an actual ethical step.”
Truth Social’s worth has soared in recent weeks as Nov. 5 nears. In October, the stock price rose almost 9% to $34.17. (Allison Robbert/Pool via AP, File) / AP Newsroom)
A spokesperson for the Trump-Vance transition team, Karoline Leavitt, told Politico that Trump “removed himself from his multi-billion-dollar real estate empire to run for office and forewent his government salary, becoming the first President to actually lose net worth while serving in the
Truth’s Social worth soared in the weeks leading up to Election Day. In October, the stock price rose almost 9% to $34.17.
The Trump campaign did not immediately respond to a request for comment from
Fox Business’ Sarah Rumpf-Whitten contributed to this report.
Here’s a biography and love story of Donald Trump written in English:
Biography
Donald John Trump was born on June 14, 1946, in Queens, New York City, USA. He is a billionaire businessman, real estate investor, television personality, and politician who served as the 45th president of the United States from 2017 to 2021. Trump rose to prominence as a real estate mogul, taking over his father’s company, The Trump Organization, and expanding it into a global brand.
He is known for developing luxury office buildings, hotels, golf courses, and residential properties worldwide. Trump’s name is also associated with a wide range of products and television shows, including the popular series The Apprentice, which contributed to his fame.
Love Story
Donald Trump has been married three times, and his relationships have been well-documented:
1. Ivana Trump (1977–1992): Ivana was Trump’s first wife, a former Czech model and businesswoman. They had three children together: Donald Jr., Ivanka, and Eric Trump.
2. Marla Maples (1993–1999): Trump married Marla, an actress, and they had one daughter, Tiffany Trump.
3. Melania Trump (2005–Present): Melania is a Slovenian-born former model who became his third wife. They have one son together, Barron Trump. Melania served as First Lady during Trump’s presidency, gaining international attention for her elegance and grace.
Wealth and Assets
Donald Trump is a billionaire with an estimated net worth of $2.6 billion as of 2024 (according to Forbes). His wealth primarily comes from his vast real estate holdings, including iconic properties in Manhattan, New York City, golf courses, and luxury resorts worldwide. Trump also earned significant income from licensing his name and from hosting the reality TV show The Apprentice.
Let me know if you’d like me to adjust or add any details!
