Trump receives an additional billion dollars worth of shares in his media group | Abroad

The IPO document of Trump Media and Technology Group (TMTG) submitted to the stock exchange regulator SEC provided that additional shares would be issued if the price remained at a certain level for twenty trading sessions on thirty trading days.

Three thresholds were thus established, each leading to the issuance of a certain number of shares. However, the value of the share has already well exceeded the highest threshold in the twenty first days of trading. As a result, 40 million additional shares will be issued, of which 36 million are attributed to Trump. Based on the value at the time of the close of the stock exchange on Tuesday, the twentieth trading day, the shares Trump will receive have 1.17 billion dollars (1.09 billion euros).

According to the document filed with the SEC, Trump will now own 64.9 percent of the capital, for a valorization of 3.7 billion at the current price.

The price of TMTG, on the stock exchange under the symbol DJT (Trump’s initials), is very volatile. The stock has already lost 59 percent since its peak on the day of the IPO on March 26. However, since a week it has gained 44 percent again.