Shares of Trump Media & Technology Group, the parent company of Truth Social, fell more than 5% on Wednesday after it was revealed that Donald Trump intends to sell all of his shares, which are valued at approximately $2.3 billion (€2.118 billion).
Thus, its shares on the Nasdaq fell 5.43% at 5:40 p.m. Spanish time and are trading at $19.16 (€17.65), just on the day Trump will announce his new package of “reciprocal” tariffs on what he has dubbed “Liberation Day.”
The president’s intention to sell all of the social network’s shares is recorded in a document filed with the United States Securities and Exchange Commission (SEC). The report estimates that a total of 142 million shares will be issued, of which 114 million are Trump’s.
Other significant shareholders include Attorney General Pam Bondi; Trump Media’s own president, Devin Nunes; and a Cayman Islands-registered company called Yorkville. Trump Media will also issue 8.4 million new shares.
