The stock value of Trump Media & Technology Group (TMTG) — the parent company of Truth Social — remained well above $17.50 in trading value as markets closed yesterday. With the share price sitting at $45.86 as markets opened this morning, former President Donald Trump is now due an additional 36 million shares in the company — valued at $1.88 billion.
Buoyed by continued investment by Trump‘s political supporters, the value TMTG has shocked establishment Wall Street investors and given the former President access to what could be a formidable source of cash for his campaign war chest. Even if shares had fallen below $17.50, Trump would still have seen a significant windfall from new shares conditional on the stock value remaining above $12.50.
During the initial public offering of shares for TMTG, former President Trump gained around $5 billion. This windfall sent him rocketing up the list of America’s most wealthy individuals. With the share price showing continued strength, it appears the efforts by Joe Biden‘s Democrat allies — like New York Attorney General Letitia James — to tie up Trump’s financial wealth will likely be in vain.
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