SOCIAL MEDIA/TRUMP BUSINESS: “Former president Donald Trump qualified for a bonus worth $1.2bn after shares in his social media company remained above a certain value despite falling sharply.
Trump is poised to receive 36m additional shares in Trump Media & Technology Group (TMTG), owner of his Truth Social platform, under an ‘earn-out’ windfall which boosts the paper value of his stake in the business to about $3.7bn…
Trump’s shares in his social media company have offered him a financial lifeline as he faces about $500m in legal penalties after being found liable in civil fraud, defamation and sexual abuse cases. While he cannot sell his stock until September due to the terms of a lockup agreement, the shares’ fluctuating value have at times made him one of the world’s wealthiest people on paper.”
-Nick Robins-Early, “Trump to receive bonus worth $1.2bn for Trump Media stock performance,” April 24, 2024