Donald Trump transferred nearly 115 million shares of Trump Media to a family trust controlled by his son, Donald Trump Jr., causing the stock to fall 2% in Friday trading.
The massive share transfer, worth approximately $4 billion, represents more than half of the Truth Social parent company’s outstanding stock. According to SEC filings, the move was classified as a “bona fide gift” to the Donald J. Trump Revocable Trust.
The transfer comes amid significant turbulence for Trump Media’s stock since its March debut. Shares initially soared to $80 before plummeting to record lows in September when insider trading restrictions expired.
The stock has proven especially reactive to events surrounding the former president. Legal setbacks like his hush money conviction in May sparked selloffs, while his November re-election victory drove shares higher – despite the company reporting a $19.2 million quarterly loss.
As sole trustee, Donald Trump Jr. now holds exclusive voting rights and investment control over the shares. The elder Trump, who founded the company after being banned from major social platforms following January 6th, has not sold any of his holdings to date.
Trump Media shares traded at $34.68 by midday Friday, recovering from an earlier 6% decline. The company has yet to comment on the reason behind the share transfer.
