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Former President Donald Trump is now $1.8 billion richer.
April 30, 2024 CBS News
The boost to Trump's wealth comes thanks to his newly public company, Trump Media & Technology Group, whose main asset is the social media platform Truth Social. The company awarded Trump an additional 36 million shares as an "earnout" bonus for the stock staying above $17.50 a share for any 20 trading days within a 30-trading day period, according to a Tuesday regulatory filing.
With the stock bonus, Trump now controls 114.75 million shares of Trump Media, which trades under the ticker DJT — the same as his initials. Based on today's closing price for the company, that values his entire stake at $5.7 billion.
Trump's total net worth is about $8 billion, according to Bloomberg Billionaires Index, which says that the bulk of his fortune is now tied up in DJT shares.
April 30, 2024 CBS News
The boost to Trump's wealth comes thanks to his newly public company, Trump Media & Technology Group, whose main asset is the social media platform Truth Social. The company awarded Trump an additional 36 million shares as an "earnout" bonus for the stock staying above $17.50 a share for any 20 trading days within a 30-trading day period, according to a Tuesday regulatory filing.
With the stock bonus, Trump now controls 114.75 million shares of Trump Media, which trades under the ticker DJT — the same as his initials. Based on today's closing price for the company, that values his entire stake at $5.7 billion.
Trump's total net worth is about $8 billion, according to Bloomberg Billionaires Index, which says that the bulk of his fortune is now tied up in DJT shares.
Donald Trump receives earnout bonus worth $1.8 billion in DJT stock
Trump's ownership stake in Trump Media & Technology group now stands at $5.7 billion, buoyed by a rise in the stock's price.
www.cbsnews.com
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