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Donald Trump transfers nearly $4 billion worth of his Trump Media shares to revocable trust | Company Business News

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Donald Trump transfers nearly $4 billion worth of his Trump Media shares to revocable trust | Company Business News

US President-elect Donald Trump has transferred his stake in Trump Media & Technology, worth over $4 billion, to a revocable trust that he is the sole beneficiary of. The transfer includes 53% of the company's outstanding stock and was made as a "bona fide gift" to the Donald J. Trump Revocable Trust. The trust is managed by Trump's son, Donald Trump Jr., who has full control over the securities held by the trust. The reason behind the transfer is unclear. Trump Media is the parent company of Truth Social, a social networking site created by Trump following his ban from Twitter and Facebook. The company's shares have been volatile since it was listed on NASDAQ in 2024 and are currently valued at $34.71, with a market capitalization of around $7.7 billion.

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