Posted on 04/29/2024 1:23:58 PM PDT by deport
MONEYWATCH Donald Trump is about to become $1.2 billion richer. Here's why. moneywatch By Aimee Picchi
Edited By Alain Sherter
Updated on: April 23, 2024 / 4:20 PM EDT / CBS News
Donald Trump is about to see his fortune grow by $1.2 billion.
The former U.S. president is set to receive a so-called earnout bonus of 36 million shares in his newly public company, Trump Media & Technology Group, as part of an incentive that was created for the company's public market debut in March, according to a regulatory filing.
For Trump to get the additional shares, which are on top of his current 57% ownership stake of 78 million shares, Trump Media needs to trade at or above $17.50 per share for any 20 trading days within a 30 trading day period. The stock, which trades under Trump's initials, DJT, marked its 20th trading day on Tuesday, which means that Trump qualifies for the bonus given that the stock didn't plunge below $17.50 today.
At today's closing price of $32.56 per share, that values Trump's earnout at $1.2 billion.
Still, Trump won't be able to cash out the new stock immediately. He and other Trump Media executives are largely restricted from selling their shares for roughly another five months. Such lockup periods, as they're known, are common with newly listed companies because they keep insiders from dumping shares shortly after a company goes public, which can destabilize a stock and cause it to sink in value.
(Excerpt) Read more at cbsnews.com ...
LOL! I hope this drives all TDS suffers nuts!
Who currently owns those 36 million shares?
I bet Letisha James and Judge Engoron are jumping for joy.
THAT has gotta piss Laticia James and Fani whats her face off.
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Maybe Trump could help.......
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They’re just showing how spoiled they really are.
Wow! Maybe now he can out- bid Soroznazi for the street rabble and useful idiots on campus.
They’ll ditch their sickening Fakestinian terrorist signs for pro- American banners. Might even hire marching bands to play the national Anthem…
It sure will be a big improvement if he just pays them to stfu and take their disgusting 🤮 pro- murder signs home to their mothers’ basements. And make room for some genuine students who will appreciate the opportunity to line in America and go to college
And DJT was up 5 today, closing at 46.69.
TDSers were out in force 2 weeks ago crowing about shorting it and talking it down to help their positions. Fail. Lol. Slow GME-type short squeeze coming to make them broke.
Crazy and Stupid is supposed to hurt.
I can only imagine this is due to his stupidity with numbers, math, and financial things.
For Trump to get the additional shares, which are on top of his current 57% ownership stake of 78 million shares, Trump Media needs to trade at or above $17.50 per share for any 20 trading days within a 30 trading day period. The stock, which trades under Trump’s initials, DJT, marked its 20th trading day on Tuesday, which means that Trump qualifies for the bonus given that the stock didn’t plunge below $17.50 today.
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The company owns the shares that aren’t owned by others. Trump just gets a larger personal share.
Re: “Who currently owns the 36 million shares?”
Good question. Most likely, the corporation itself.
If Trump failed to meet the bonus criteria, the shares could be sold on the open market - or - assimilated back into the corporation.
Since the existence - and possible distribution - of the shares was public knowledge, you have to assume that all subsequent investors - those currently buying and selling shares of DJT - have factored the potential value - or - loss of value - into the price they are willing to pay for shares that are already trading.
Love it!!
“... trade at or above $17.50 per share for any 20 trading days within a 30 trading day period”
I’ve never heard of that bonus goal before. That’s a good one. There must have been an expiration date for that goal to have been met, but it sounds like he met it handily.
Wow!
I am not sure “specifically” for DJT. But generally speaking, those shares are often retained by the company for these planned payouts after an IPO. So, granting the shares would not dilute the current value.
Obviously, every company does stuff their way.
I’m just glad he’ll be ok with New York and get on with his life. No selling off stuff.
Short squeeze opportunity. Remember when the Wallstreet guys all went short on Gamestop but some reddit group propped up the stock value forcing those short sellers to have to buy back at higher price?
Short squeeze opportunity. Remember when the Wallstreet guys all went short on Gamestop but some reddit group propped up the stock value forcing those short sellers to have to buy back at higher price?
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