Donald Trump has acquired $1.8 billion more in shares of Trump Media, as reported in a regulatory filing recently.
Trump was given an extra 36 million shares in the company that owns his social media platform Truth Social as a result of the company’s stock reaching certain price goals. This increased his overall ownership to over 114 million shares, which are valued at $5.7 billion based on Wednesday morning’s stock price.
Trump, who is expected to be the Republican presidential nominee, currently holds about 66% of the total shares of the company.
The stock price of Trump Media & Technology Group has risen significantly in recent weeks, reaching a closing price of $49.93 on Tuesday. Trump was required to maintain the stock price above $17.50 for 20 consecutive trading days in order to secure the new shares.
Trump Media recently gained a spot on the Nasdaq by merging with Digital World Acquisition Corp., which is a special purpose acquisition company (SPAC). This type of merger provides new companies with a faster and more convenient way to make their shares available for public trading.