Fact Check: "Donald Trump is the largest shareholder of Trump Media and Technology Group, holding nearly 53% of the company, which went public in 2024."
What We Know
Donald Trump is indeed the largest shareholder of Trump Media and Technology Group (TMTG), holding approximately 53% of the company's shares. This stake is valued at around $4 billion, based on recent market evaluations (New York Times). TMTG, which operates the social media platform Truth Social, went public on March 26, 2024, after merging with Digital World Acquisition Corp. (DWAC), a special-purpose acquisition company (Wikipedia). Trump's shares were transferred to a trust controlled by his son, Donald Trump Jr., but he remains the beneficiary of the trust, thus retaining indirect ownership of the shares (Newsmax).
Analysis
The claim that Trump holds nearly 53% of TMTG is corroborated by multiple reliable sources. The New York Times confirms that Trump's stake is indeed about 53%, and this information is echoed by Reuters, NBC News, and other financial news outlets (Reuters, NBC News). The consistency across these sources enhances the credibility of the claim.
However, the context surrounding the transfer of shares to the trust is also significant. While Trump has transferred his shares to a trust, he has not sold them, and the trust is managed by his son, which raises questions about potential conflicts of interest (New York Times, Morningstar). Critics have pointed out that this arrangement does not constitute a "blind trust," which would typically involve an independent trustee to mitigate conflicts of interest (New York Times).
The fact that TMTG went public in 2024 is also well-documented, with the merger with DWAC being a focal point of scrutiny due to the financial and regulatory challenges surrounding SPACs (Wikipedia). This merger process has been controversial, with investigations into the financial dealings of the involved parties (Wikipedia).
Conclusion
The claim that Donald Trump is the largest shareholder of Trump Media and Technology Group, holding nearly 53% of the company, is True. This assertion is supported by multiple credible sources, and the details surrounding his ownership structure, including the transfer of shares to a trust, do not negate the fact of his substantial ownership stake.
Sources
- Trump Puts $4 Billion in Shares of His Media Company in a Trust - New York Times
- Trump Media & Technology Group - Wikipedia
- Major Trump Media shareholder sells nearly entire stake - Reuters
- Trump's financial disclosures reveal tens of millions in income from ... - NBC News
- Trump Moves All His Shares of Trump Media Into Trust - Newsmax
- Trump media stock 'DJT' drops as president-elect moves entire $4 ... - Morningstar
- Donald Trump Stocks: 8 Stocks Owned by the President - U.S. News
- Where are Trump's millions coming from while he's President? - MSN
