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President-elect Donald Trump Transferred all his shares this week shares exist Trump Media A revocable trust in which he is the sole beneficiary, supervision Filing Revealed Thursday night.
Trump did not receive any money from the gift of the 114,750,000 shares of Trump Media stock he held in stock Tuesday, according to a document filed with Donald J. Trump’s revocable trust. Securities and Exchange Commission.
The SEC filing states that because Trump is a beneficiary of the trust, he now “indirectly” owns the Trump Media shares he transferred.
Trump Media, which trades under the symbol DJT, closed at $35.41 per share on Thursday, bringing the value of the transferred shares to more than $4 billion.
Trump will be sworn in as president on January 20 for his second non-consecutive term. His stake represents nearly 57% of the company.
The document submitted to the SEC on Thursday stated that after the transfer of shares, Trump “directly owns 0 shares of Trump Media Technology Group, and indirectly owns 114,750,000 shares of Trump Media Technology Group.”
“The reporter (Trump) is the settlor and sole beneficiary of the trust,” the document states.
The type of transfer Trump used this week is not new to the president-elect, although the dollar value of his stock exceeds the value of any assets he has previously transferred.
Trump made a similar transfer to the same revocable trust before taking office for the first time in 2017.
At that time, Trump transferred various real estate holdings, assets and liabilities to the trust, according to reports produced by the trust. Mazarswhich was his accounting firm at the time.
He also made a transfer to the trust in February 2016, when he was running for president.
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