Fri Dec 20 22:19:00 UTC 2024: ## Trump Transfers $4 Billion in Trump Media Shares to Trust, Sending Stock Down
**NEW DELHI, India – December 21, 2024** – Shares of Trump Media and Technology Group plummeted on Friday following President-elect Donald Trump’s transfer of his entire stake—approximately 115 million shares valued at $4 billion—to a revocable trust. The move, revealed in a Thursday SEC filing, saw the stock price drop by around 2% midday, reaching a low of 6% at one point.
The transfer, described as a “bona fide gift” to the Donald J. Trump Revocable Trust, places sole voting and investment power in the hands of Trump’s son, Donald Trump Jr., who is the sole trustee. The reasons behind the transfer remain unclear.
Trump Media’s stock has demonstrated significant volatility since its March debut, peaking near $80 on its first day before falling to record lows in September after lock-up agreements expired. Despite this fluctuation, Trump himself has not sold any shares. The stock’s performance has been closely tied to Trump’s public image and events, experiencing dips following his May hush-money conviction and surges after a July assassination attempt and his November re-election victory, even amidst the company’s reported $19.2 million third-quarter loss.
Trump founded Trump Media following his ban from Twitter and Facebook after the January 6, 2021, Capitol riot. The company operates Truth Social.
First Piper 