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Donald Trump’s social media company on Monday submitted documents with the Securities and Exchange Commission, which can allow the president’s confidence to sell more than $ 2 billion in shares.
Trump Media and a technology group has filed a registration with the SEC that will open the door so that the President’s confidence can sell up to nearly $ 115 million shares worth over $ 2.3 billion.
The submission does not guarantee the sale of the shares or provides information for future sale. Ever since Trump took office, he transferred his share to the company to the Donald J. Trump Revocable Trust, which is controlled by his son Donald Trump, Jr.
President Donald Trump Social Social Media Platform is shown on a mobile phone on March 25, 2024 in Chicago, Illinois.
Scott Olson/Getty Images
Sales from Trump, the largest individual shareholder of the company, can panic of investors and harm the price of the company’s shares.
Trump’s media could not be reached for comment immediately.
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