Donald Trump takes this bold decision ahead of January 20 swearing-in ceremony. How will US President-elect be benefitted?

US President-elect Donald Trump has moved the stake he owns in Trump Media & Technology to a revocable trust, Reuters reported.

Trump transferred 114.75 million shares, or 53 per cent of Trump Media & Technology's outstanding stock, to the revocable trust of which he is the sole beneficiary, according to securities filings.

His stake in the company was valued at more than $4 billion based on the stock's last closing price of $35.41. Trump said in November that he had no intention of selling his shares in the company, which owns the Truth Social media platform, as per a Reuters report.


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Trump's eldest son, Donald Trump Jr., is the sole trustee of the trust and has sole voting and investment power over securities held by it, according to the securities filings.

Trump Media has a market capitalization of around $7.7 billion as retail traders bet on the stock as a proxy of Trump winning the 2024 U.S. presidential election.

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The company's shares were down 4 per cent at $33.86 on Friday.

FAQs

Q1. What is designation of Donald Trump?
A1. The designation of Donald Trump is US President-elect.

Q2. When is Donald Trump's swearing-in ceremony taking place?
A2. Donald Trump's swearing-in ceremony is taking place on January 20.