Former President Donald Trump is poised to receive up to 36 million additional shares of Trump Media after trading closes Tuesday.
The shares would be worth more than $1.25 billion at current prices.
Trump Media, which owns the Truth Social app, set aside these so-called earnout shares for him if the company’s stock met a minimum share price benchmark.
Former President Donald Trump is poised to receive an additional 36 million shares of Trump Media on Tuesday — an “earnout” bonus worth more than $1.25 billion, at Monday’s price.
Shares of Trump Media, which owns the Truth Social app, were trading at around $35 per share midday Monday, about half the price per share they debuted at in March.
But that price is twice the $17.50 benchmark minimum share price, which the DJT ticker has to hit by the close of trading Tuesday, for Trump to become eligible for the extra so-called earnout shares.
Former President Donald Trump is poised to receive an additional 36 million shares of Trump Media on Tuesday — an “earnout” bonus worth more than $1.25 billion, at Monday’s price.
Shares of Trump Media, which owns the Truth Social app, were trading at around $35 per share midday Monday, about half the price per share they debuted at in March.
But that price is twice the $17.50 benchmark minimum share price, which the DJT ticker has to hit by the close of trading Tuesday, for Trump to become eligible for the extra so-called earnout shares.