Trump Transfers Media Shares to Revocable Trust

President-elect Donald Trump transferred his 53% stake in Trump Media & Technology to a revocable trust. The trust, valued over $4 billion, names Trump as sole beneficiary and his eldest son, Donald Trump Jr., as trustee. The company's market cap is $7.7 billion.

President-elect Donald Trump has taken significant financial steps by moving his stake in Trump Media & Technology to a revocable trust. The transfer includes 114.75 million shares, representing 53% of the company's outstanding stock, as revealed by securities filings.

The stake, valued at over $4 billion based on the latest share price of $35.41, positions Trump as the sole beneficiary of the trust. Meanwhile, his eldest son, Donald Trump Jr., serves as the sole trustee with exclusive voting and investment powers over the securities held by the trust.

Trump Media, which has a market capitalization of approximately $7.7 billion, has seen its stock fluctuate, closing 4% lower at $33.86 on Friday. Retail traders are considering the company's shares as a reflection of Trump's potential in the 2024 U.S. presidential election.

(With inputs from agencies.)