Donald Trump is preparing to sell his $2.3bn stake in Truth Social

From Yahoo Finance: 2025-04-02 13:49:00

Former US President Donald Trump is preparing to sell his $2.3bn stake in the company that owns his social media platform, Truth Social. New filings show Trump kick-started plans to offload his shares in Trump Media & Technology Group, causing an 8% drop in share price. TMTG was launched in 2021 after Trump was banned from Twitter, aiming to combat “big tech tyranny.”

Paperwork filed with the US SEC reveals Trump plans to sell all 114m shares in TMTG. The company’s share price has plummeted by 63% over the past year due to weak financials and declining user numbers. Trump’s 52% stake in TMTG is valued at $2.3bn and held in a trust controlled by his son, Donald Trump Jr. Shares were listed on Nasdaq under DJT, Trump’s initials, and TMTG also listed on NYSE’s Texas platform.

Despite previous statements of not intending to sell his stake, Trump is now moving forward with selling shares in TMTG. The company experienced a surge in shares after Trump’s presidential victory and has been used by him to announce government policies, including those related to his global trade war. The latest filings come ahead of Trump’s expected announcement of global import tariffs.

Read more: Donald Trump prepares to sell $2.3bn stake in Truth Social