Trump has nearly $2 billion more.

Former US President Donald Trump received an additional 36 million shares of Trump Media stock this week, worth $1.7 billion.

According to the terms of the merger with Digital World Acquisition Corp last month, Mr. Trump received additional shares when the price of Trump Media reached $17.50 or higher in the first 20 trading sessions. On April 23, he completed this goal.

A filing submitted to the U.S. Securities and Exchange Commission (SEC) on April 30 showed that Trump received an additional 36 million shares of the company. In total, Trump now owns more than 114 million shares, or nearly 70% of the outstanding shares of Trump Media. With the closing price on May 1 at $45, the value of the shares owned by the former U.S. President is approximately $5.2 billion.

However, this asset exists only "on paper," because the former US President is prohibited from selling it for six months after the company's shares are traded on the US stock exchange.

The chart shows the stock price performance of Trump Media over the past year. Source: CNN

Trump Media merged with Digital World Acquisition Corp at the end of March, and subsequently began trading on the Nasdaq on March 26th, at $70.90. During its first trading session, the company's stock briefly approached $80, raising its valuation to over $9 billion.

A few weeks later, the stock went down repeatedly before rebounding in mid-April. The performance of Trump Media stock matched warnings from several experts last month, who argued that Wall Street had overvalued the company.

Fundamental metrics such as revenue, profit, and user base for Truth Social (a social network founded by Trump and owned by Trump Media) are all poor. The company lost $58 million and generated $4.1 million in revenue last year.

Truth Social has nearly 500,000 users, down half from the same period last year. This number is quite small compared to other major social media platforms worldwide , such as X or Facebook...

Ha Thu (according to AP)

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