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President Trump is facing unprecedented legal judgments and financial drains in court, but he has simultaneously managed to increase his net worth exponentially amidst the barrage of attacks lobbed at him in 2024.
The president is set to rake in around another $1.3 billion in his Trump Media & Technology Venture (TMTG), bringing his stake in the company to beyond $4 billion. According to The New York Times, the president is due to sweep up another 36 million shares of DJT stock in this earnout, which is essentially a reward for the company’s solid performance on the exchange.
RSBN previously reported that with his initial multi-billion-dollar boost from his TMTG venture, Trump had surpassed the wealth of some of the world’s most well-known elitists like George Soros and Mark Cuban, firmly cementing himself on the Bloomberg Billionaire Index once again.
The market has fluctuated a bit upon the stock’s introduction, but it has remained a solid bet for investors who see potential in the future of the media company. Per the NYT:
“Despite the ups and downs, Trump Media’s share price has remained above the levels set as triggers for awarding extra shares to Mr. Trump and other shareholders. The shares are awarded in batches, based on whether the stock trades above $12.50, $15 and $17.50 for 20 out of any 30 days in its first two years as a public company.”
In the wake of TMTG’s merger and its access to capital markets, Truth Social – Trump’s free speech platform that is maintained under the umbrella of TMTG – has announced that it will soon be launching a live streaming platform to compete with Big Tech. These kinds of expansions will likely become more frequent as the company continues to grow financially.
As for Trump, he must wait 150 days before he would be able to sell off any stake in his company, although it seems unlikely that he would relinquish the majority stake position in TMTG.