President Donald Trump just landed a massive payday after being awarded additional shares in his newly-public media company.
Even as the legal chips seem to stay stacked against him, Trump came out a winner in another big way this week.
According to Breitbart, Trump was awarded 36 million additional shares of Trump Media stock.
The extra shares are worth a total of $1.6 billion.
The news broke after a regulatory filing revealed the 45th president’s windfall.
The additional stock was awarded after Trump Media shares hit certain price benchmarks.
Truth Social is owned by Trump Media.
Thanks to the ongoing stellar performance of the stock, Trump was easily able to secure the additional shares.
It was reported that the shares only needed to trade above $17.50 each for 20 consecutive trading days to grab the bonus shares.
The stock easily trades above $40 per share.
Breitbart noted:
“Trump Media got its place on the Nasdaq after merging with a company called Digital World Acquisition Corp., a special purpose acquisition company, or SPAC.
“These type of mergers offer young companies quicker and easier routes to getting their shares trading publicly.”
With the additional shares locked in, Trump now owns roughly two-thirds of the company’s stock.
The shares, in total, are worth over $5 billion.
However, it’s still considered “paper wealth” until a period of six months passes.
Trump would only be able to tap into the money behind the shares if the company’s board of directors granted a special waiver.
The 45th president received plenty of social media applause for the windfall and the continued good health of his company’s stock.
In a post on X, one user wrote.
“It’s poetic that he’s making billions while rogue judges are trying to silence and bankrupt him. God truly has his back.”
Another X user wrote:
“I’m so happy, he deserves it after all he’s been through!
“I believe in Karma!”
Even as the company had a less-than-desirable 2023, during which it reported nearly $60 million in losses, the shares have had a bit of a rollercoaster ride.
Nevertheless, the values have overall remained higher than most expected.
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