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President-elect Donald Trump This week he transferred his entire stake shares in Trump media To a revocable trust of which he is the sole and regulative beneficiary filings Revealed Thursday evening.
Trump received no money for his stock gift of 114,750,000 shares in Trump Media stock to the Donald J. Trump Revocable Trust on Tuesday, according to a filing with the Donald J. Trump Trust Securities and Exchange Commission.
Because Trump is the beneficiary of the trust, he now “indirectly” owns the Trump Media shares he transferred, the SEC filing noted.
Trump Media, whose shares trade under the ticker DJT, closed at $35.41 per share on Thursday, making the value of the transferred shares more than $4 billion.
Trump, who is scheduled to be sworn in as president for a second non-consecutive term on January 20, was the largest individual shareholder in the social media company, which operates the Truth Social app. His share represents approximately 57% of the company's shares.
Thursday's SEC filing said that after Trump transferred his stock, he “directly owned 0 shares of Trump Media & Technology Group Corp. and indirectly owned 114,750,000 shares of Trump Media & Technology Group Corp.”
The filing stated: “The reporting person (Trump) is the settlor and sole beneficiary of the fund.”
The type of transfer Trump used this week is not new for the president-elect, even though the dollar value of his shares exceeds the value of any assets he has previously transferred.
Before his first inauguration as president in 2017, Trump made similar transfers to the same revocable trust.
At that time, Trump transferred numerous real estate properties, assets and liabilities to the trust, according to reports from Mazarswhich was then his accounting firm.
He also made transfers to the fund in February 2016, when he was campaigning for president.
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