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President-elect Trump transferred nearly all of his stock in parent company Truth Social to the Donald J. Trump Revocable Trust. Securities and Exchange Commission Register on Thursday
Trump Media and Technology Group (TMTG) is the parent company of Truth Social, a social media app that positions itself as an alternative to mainstream apps like Instagram and X.
Since listing, Trump Media has been popular among traders who saw it as a speculative bet on Trump winning the Nov. 5 election. Trump has retained up to 57% ownership of this company. Before the election, his stock was worth almost $4 billion.
President-elect Trump has transferred nearly all of his stock in parent company Truth Social to the Donald J. Trump Revocable Trust, according to an SEC filing. (Reuters/Dado Rovic/Picture/Photo Reuters)
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TMTG was founded in February 2021 by Trump and Andy Dean Litinsky. The company began trading on NASDAQ in March 2024.
Jordan Leibovitz, CREW's vice president of communications, criticized Trump's decision to transfer the stock, saying there are still ethical concerns for the president-elect.
“Yes, he put it in trust, but (he) basically did nothing to alleviate any moral panic,” Leibovitz told Politico. “It's like a nod to morality without taking an actual moral step.”
Truth Social's value has increased in recent weeks as November 5 approaches. In October, the stock price rose nearly 9% to $34.17. (Allison Robert/Pool via AP, File)/AP Newsroom)
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Carolyn Leavitt, a spokeswoman for Trump and Vance's transition team, told Politico that Trump “removed himself from his multibillion-dollar real estate empire to run for president, ignoring his government salary and becoming the first president whose net worth He lost himself. Serve in the white house“
Truth's social value increased in the weeks leading up to Election Day. In October, the stock price rose nearly 9% to $34.17.
The Trump campaign did not immediately respond to a request for comment Fox News Digital.
Fox Business' Sarah Rump Witten contributed to this report.