Trump Media and Technology Group, the parent company of Truth Social, is ostensibly a tech company that operates a middling social media platform. In practice, it’s something closer to a way for opportunistic investors to suck up to the President. But it appears Trump may be ready to cash out. According to the Financial Times, a recent filing by the company to the Securities and Exchange Commission indicates that the trust Trump stashed his shares in is now permitted to sell his stake. According to the filing, the mix of shares will be sold off “from time to time in one or more offerings.”
Trump holds nearly 115 million shares of TMTG, which accounts for about 53% of the total shares in the company. With the stock hovering between $18 and $19 a share—frankly, an absurd share price for a company that basically just runs a social media platform designed to receive posts from Trump—the President’s stake is worth more than $2 billion. Following the 2024 election, Trump shifted those shares into the Donald J. Trump Revocable Trust, theoretically taking control out of his hands… except the trust is controlled by Donald Trump Jr., who is not exactly an independent operator.
The President has also insisted on multiple occasions that he won’t sell his shares in the company, which he’s technically been allowed to do since September of last year. Fears that he’ll sell have historically sent the stock into a tailspin because the real value of the company seems to be the ability to cozy up to Trump. Experts have warned that the publicly traded company offers easy avenues for special interests and foreign investors to do some unofficial favor trading. There is really no rational reason to invest in TMTG other than being a Trump bud or fanatic. The tech sucks and it reported a loss of more than $400 million last year.
Whether any outside sources have tried to use the stock to manipulate anyone or not, it has certainly been a place where Trump loyalists have come to profit. Attorney General Pam Bondi owns about $2 million worth of shares in TMTG. Secretary of Education Linda McMahon serves as director of TMTG and was gifted $826,000 worth of shares in January 2025. FBI Director Kash Patel got his own “gift” of $826,000 worth of shares at the start of the year, too—after he filed his financial disclosures to the government. Intelligence Board nominee Devin Nunes is currently the CEO of TMTG and is sitting on more than $20 million worth of stock holdings—plus, he gets a salary and bonus from the company, which netted him $1.6 million last year.
TMTG argued that its recent filing, which also shows that Bondi and Nunes are looking to sell some of their stake in the company, was just a routine filing and that “Legacy media outlets are spreading a fake story suggesting that a TMTG filing today is paving the way for the Trump trust to sell its shares in TMTG…In fact, there currently is no open window for any affiliate to sell shares.” But odds are some of these folks are going to want to turn their theoretical cash into the real stuff at some point.
