Former President Donald Trump is poised to see his fortune grow by a staggering $1.2 billion. This windfall comes in the form of an earnout bonus of 36 million shares in his newly public company, Trump Media & Technology Group, thanks to an incentive created for the company’s public market debut in March.
While Trump’s financial situation has been under scrutiny due to legal judgments and ongoing expenses, this bonus is set to provide a significant boost to his wealth.
The former president currently holds a 57% ownership stake of 78 million shares in Trump Media. The earnout bonus grants him an additional 36 million shares, but there’s a catch.
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For Trump to receive these extra shares, Trump Media’s stock (trading under the symbol DJT) must trade at or above $17.50 per share for at least 20 trading days within a 30-day period.
As of today, the stock has completed its 20th trading day, meaning Trump qualifies for the bonus as long as the stock price doesn’t dip below $17.50. With the closing price at $32.56 per share, Trump’s earnout is valued at a staggering $1.2 billion.
However, it’s worth noting that Trump and other company executives are subject to a lockup period, preventing them from selling their shares for approximately five months. This restriction is common among newly listed companies to ensure stability and prevent insider share dumping.
The primary asset of Trump Media is the Truth Social social media platform. Launched with much fanfare, it aims to provide an alternative to existing social media platforms.
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Trump’s $1.2 billion windfall comes at a crucial time, as he faces mounting financial pressures. Legal judgments and ongoing legal expenses have strained his finances, making this earnout bonus all the more significant.
With the additional shares from the bonus, Trump’s total ownership in DJT will amount to approximately 115 million shares, valued at a staggering $3.7 billion on paper.
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