Selected articles and news from the editorial office of Forbes Bulgaria
A bonus of more than 1 billion dollars is set to be received by Donald Trump through the Trump Media & Technology Group, which manages the social network of the former American president, after the company’s shares rose significantly in price.
KEY FACTS
- Donald Trump is on track to receive an additional 36 million shares of Trump Media, the company that runs the Trump Social network. These shares will be added to the 78.75 million shares he already owns as a majority shareholder in the company.
- This bonus is worth over $1.25 billion. Shares are trading at around $35 – twice the minimum benchmark share price of $17.50 that the ticker DJT must hold by the end of trading on Tuesday for Trump to be entitled to the extra, so-called “earnout” shares.
- So Trump’s total stake in Trump Media would be worth more than $4 billion on paper at a price of $35 a share.
- This profit is contingent on hitting the benchmark for 20 trading days within a 30 trading day period that began on March 26. Tuesday is the 20th day and it is very unlikely that DJT will fall below the reference price by the end of that day.
BIG NUMBER
Although Trump has agreed not to sell his shares in TMTG until September, the windfall represents a significant addition to his fortune, which Forbes estimates is $4.7 billion.
KEY STORY
Trump Media & Technology Group Corp. debuted on the exchange under the ticker DJT on March 26 at an initial price of $70.90 per share and rose significantly, reaching nearly $80 the same day, giving the company a market capitalization of over $9 billion in a short period of time.
Since then, Trump Media’s stock price has declined. By the close of trading on April 15, the stock price had fallen nearly 68% from its opening price.
