Former President Donald Trump will be entitled to another 36 million shares in Trump Media & Technology Group by end of day, assuming the stock remains above $17.50.
That’s the threshold it must stay above for 20 out of any 30 trading days during a three-year period following its merger with Digital World Acquisition last month. The stock was last quoted at $32.79, down 7.4% on the day, MarketWatch reported.
Trump currently holds almost 79 million shares in the company, which is parent to his Truth Social online platform. Those are worth about $2.6 billion, while the additional 36 million are worth about $1.2 billion. Trump can’t immediately sell them, however, as they are subject to a six-month lockup period that expires in September.
