The shares of Trump Media & Technology Group, the parent company of Truth Social, fell more than 5% on Wednesday following news that Donald Trump plans to divest himself entirely from his shareholdings, which are valued at around $2.3 billion (€2.118 billion).
Consequently, the company’s stocks in the Nasdaq dropped by 5.43% as of 17:40 peninsular Spanish time and are trading at $19.16 (€17.65) on the day Trump is set to unveil his new package of ‘reciprocal’ tariffs, dubbed the ‘Day of Liberation.’
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The intention of selling all shares is documented in a filing with the U.S. Securities and Exchange Commission (SEC). The document outlines the sale of 142 million shares, with 114 million belonging to Trump.
Other notable shareholders include Florida’s Attorney General, Pam Bondi; Trump Media CEO Devin Nunes; and a company registered in the Cayman Islands called Yorkville. Additionally, Trump Media will issue 8.4 million new shares.
