TMTG experiences financial difficulties – during the year its shares fell 63%, and reduced the number of users. Trump controls 52% of the company’s sharing by trust, managed by Donald Trump Jr.
US President Donald Trump aims to sell his share to the Trump Media & Technology Group (TMTG), which owns the social social network social network. According to new documents submitted to the US Securities and Exchange Commission (SEC), the White House leader plans to sell all of its 114 million TMTG shares through public sales. The Telegraph reported it Friday, April 4.
Part of it is estimated to be approximately $ 2.3 billion and a sum of 52% of the company.
Against the background of the news about the possible sale of shares, the cost of TMTG in exchange has dropped by 8%. Generally, over the past 12 months, the company’s shares have dropped to the price of 63% due to weak financial indicators and decreased user activity.
Despite this, the TMTG said the submitted documentation “combined with previous registration forms” and did not indicate a change in the status of shares.
Trump established TMTG in 2021 after locking accounts on Twitter for attacking the Capitol. Then he said he created the truth in society to “withstand the tyranny of large technological companies.”
Back in September 2023, Trump confirmed that “completely without the intention of selling” his part on the social network:
The submission of documents to the possible sale occurred literally a few hours before Trump’s expected appeal regarding the large -scale introduction of new import duties.
Remember that the Trump Media & Technology Group Company’s sharing grew 50% immediately after it became clear that Donald Trump would win the US presidency election
Trump’s social network became the leader in the App Store.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.