Donald Trump’s social-media stock is nearing a milestone, securing the former president a stock grant worth a fresh $1.3 billion.
Trump Media & Technology Group, the parent company of the Truth Social app, went public via a so-called SPAC deal last month. Shares closed Monday at $35.50, marking the 19th consecutive trading session the stock remained above $17.50.
That number is significant because Trump is eligible for a so-called earnout bonus if the stock stays above that threshold for 20 trading days. Barring a collapse of the stock in today’s session, Trump is set to qualify for an additional grant of 36 million shares, which is worth about $1.3 billion at Monday’s closing price. Once granted, Trump’s total equity stake would be worth about $4.1 billion.
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