Former President Donald Trump has received a significant earnout bonus of 36 million additional shares in his newly public company, Trump Media & Technology Group (TMTG). The bonus was triggered by the stock staying above $17.50 a share for 20 trading days within a 30-trading day period, increasing Trump’s stake in the company to nearly 65%.
This bump in stock has also boosted Trump’s total net worth to approximately $8.33 billion. However, due to a five-month lockup period, Trump will not be able to cash out the earnout bonus immediately.
Despite recent financial losses, with TMTG reporting revenue of $4.1 million in 2023 but an operating loss of over $58 million, Trump’s continued involvement and success in the company are evident. The company went public in March through a merger with Digital World Acquisition Corp.
In addition to this news, TMTG recently announced plans to roll out a live-streaming platform on Truth Social, Trump’s proprietary social media platform. The live-stream channel will eventually expand outside of Truth Social into its own stand-alone app and even reach home TV screens.
These developments highlight Trump’s ongoing efforts to provide alternative social media options outside of Big Tech control. Despite facing online bans from platforms like Twitter and Facebook in 2021, Trump is forging ahead with innovative solutions in the digital media landscape.
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