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Former President Donald Trump has received an additional $1.6 billion worth of shares in Trump Media & Technology Group, the parent company of his social network Truth Social, after the stock price hit certain benchmarks.
This brings his total ownership to over 114 million shares valued at around $5.2 billion based on current stock prices.
Trump Media went public by merging with a special purpose acquisition company, and its shares surged after the initial public offering before losing value after the company reported large losses in its first earnings report.
While Trump is currently prohibited from selling his shares, the increased stock-based compensation demonstrates his continued influence and high stakes in the success of the new social media platform.
