{"id":107722,"date":"2024-09-28T01:03:53","date_gmt":"2024-09-27T18:03:53","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=107722"},"modified":"2024-09-28T01:03:53","modified_gmt":"2024-09-27T18:03:53","slug":"trump-media-co-founders-unload-nearly-all-their-djt-stock-worth-100-million","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=107722","title":{"rendered":"Trump Media co-founders unload nearly all their DJT stock worth $100 million"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"main\">\n<div data-testid=\"nsc-wrapper-support-us\">\n<div class=\"sc-16ay7ps-0 hAqRAM\">\n<div class=\"sc-16ay7ps-1 jbZASd\">\n<div class=\"sc-16ay7ps-14 bFnbmL\">\n<h3 data-testid=\"support-nsc-title\" class=\"sc-16ay7ps-2 horJcb\">Your support helps us to tell the story<\/h3>\n<\/div>\n<\/div>\n<p><amp-accordion animate=\"\" class=\"i-amphtml-layout-container\" i-amphtml-layout=\"container\"><\/p>\n<section class=\"sc-16ay7ps-18 bfRLhE\">\n<h4 class=\"sc-16ay7ps-3 bOpeIR\"><button class=\"sc-16ay7ps-4 jyAPhF closed-trigger\" data-testid=\"support-nsc-dropdown\"><span class=\"sc-16ay7ps-8 kDWcOx\"><span class=\"sc-16ay7ps-7 fiytbn\">Find out more<\/span><svg class=\"sc-eaj12q-0 bNRJWU sc-culv3z-0 jIhHch sc-16ay7ps-5 jJxovk\"><use href=\"#d5d9764c65d2cfa2\"\/><\/svg><\/span><\/button><button class=\"sc-16ay7ps-4 jyAPhF open-trigger\" data-testid=\"support-nsc-dropdown\"><span class=\"sc-16ay7ps-8 kDWcOx\"><span class=\"sc-16ay7ps-7 fiytbn\">Close<\/span><svg class=\"sc-eaj12q-0 bNRJWU sc-culv3z-0 jIhHch sc-16ay7ps-5 sc-16ay7ps-6 jJxovk cOIZLt\"><use href=\"#d5d9764c65d2cfa2\"\/><\/svg><\/span><\/button><\/h4>\n<div class=\"sc-16ay7ps-19 gdfHuZ\">\n<div>\n<p data-testid=\"support-nsc-collapsed-content\" class=\"sc-16ay7ps-9 hYsSsu\">As your White House correspondent, I ask the tough questions and seek the answers that matter.<\/p>\n<p>Your support enables me to be in the room, pressing for transparency and accountability. Without your contributions, we wouldn&#8217;t have the resources to challenge those in power.<\/p>\n<p><b>Your donation makes it possible for us to keep doing this important work, keeping you informed every step of the way to the November election<\/b><\/p>\n<div data-testid=\"support-nsc-author\" class=\"sc-16ay7ps-10 kOmKsa\"><img decoding=\"async\" src=\"https:\/\/static.independent.co.uk\/static-assets\/support-us\/andrew-feinberg.png\" alt=\"Head shot of Andrew Feinberg\" class=\"sc-16ay7ps-13 jgqbGv\"\/><\/p>\n<div>\n<p class=\"sc-16ay7ps-11 dCfwpJ\">Andrew Feinberg<\/p>\n<p class=\"sc-16ay7ps-12 kLQwYY\">White House Correspondent<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<p><\/amp-accordion><\/div>\n<\/div>\n<p>The co-founders of Trump Media &amp; Tech Group \u2013 the alleged brains behind Donald Trump\u2019s<a href=\"https:\/\/www.independent.co.uk\/news\/world\/americas\/us-politics\/donald-trump-stephen-colbert-truth-social-b2618634.html\"> Truth Social<\/a> platform \u2013 have sold almost all their stock in the company, worth a reported $100m.<\/p>\n<p>According to a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1849635\/000149315224038295\/formsc13-g.htm\">regulatory filing, <\/a>United Atlantic Ventures has disposed of nearly all its 5.5 percent stake in Trump Media \u2013 traded under the ticker DJT \u2013 which owns <a href=\"https:\/\/www.independent.co.uk\/news\/world\/americas\/us-politics\/trump-harris-elections-news-live-updates-b2618080.html\">Donald Trump<\/a>\u2019s <a href=\"https:\/\/www.independent.co.uk\/topic\/truth-social\">Truth Social<\/a> platform.<\/p>\n<p>United Atlantic Ventures is an investment firm owned by Andrew Litinsky and Wesley Moss, who were also former contestants on series two of <em>The Apprentice.<\/em><\/p>\n<p>The duo sold most of their stake in the company after a lockup agreement that stopped large investors, including the former president, from selling any shares ended on September 19.<\/p>\n<p>Trump is yet to offload any of his stock with the Republican presidential nominee insisting <a href=\"https:\/\/www.independent.co.uk\/news\/world\/americas\/us-politics\/donald-trump-truth-social-stock-b2615865.html\">he would not be selling his shares<\/a> and reaffirming his commitment to <a href=\"https:\/\/www.independent.co.uk\/topic\/truth-social\">Truth Social<\/a> when the lockup agreement ended. <\/p>\n<p>\u201cA lot of people think that I will sell my shares, you know, they\u2019re worth billions of dollars, but I don\u2019t want to sell my shares. I don\u2019t need money,\u201d he said earlier this month. \u201cI love it. I use it as a method of getting out my word.\u201d<\/p>\n<div class=\"sc-482ou5-2 eOHevC image align-none\">\n<figure class=\"sc-1cbdeug-0 cpcmmN\">\n<div data-gallery-length=\"2\" class=\"sc-482ou5-0 gHomzX\"><img decoding=\"async\" src=\"https:\/\/static.independent.co.uk\/2024\/09\/27\/15\/cropped_GettyImages-114968864.jpg\" srcset=\"https:\/\/static.independent.co.uk\/2024\/09\/27\/15\/cropped_GettyImages-114968864.jpg?quality=75&amp;width=320&amp;auto=webp 320w, https:\/\/static.independent.co.uk\/2024\/09\/27\/15\/cropped_GettyImages-114968864.jpg?quality=75&amp;width=640&amp;auto=webp 640w\" loading=\"lazy\" alt=\"Andrew Litinsky and Wesley Moss own investment firm United Atlantic Ventures and were also former contestants on series two of The Apprentice\" class=\"sc-1mc30lb-0 iSVhwZ inline-gallery-btn\" on=\"tap:auto-image-gallery,inline-image-carousel.goToSlide(index=0)\" tabindex=\"0\" role=\"button\" data-gallery-length=\"2\"\/><\/div><figcaption class=\"sc-1cbdeug-1 sc-1cbdeug-3 hiCdLa liXvvg\">Andrew Litinsky and Wesley Moss own investment firm United Atlantic Ventures and were also former contestants on series two of The Apprentice<span class=\"sc-1cbdeug-7 izyooE\"> <!-- -->(<!-- -->Wireimage<!-- -->)<\/span><\/figcaption><\/figure>\n<\/div>\n<p>After Trump was banned from Twitter \u2013 <a href=\"https:\/\/www.independent.co.uk\/voices\/elon-musk-block-x-twitter-women-b2618107.html\">now Elon Musk\u2019s X<\/a> \u2013 following<a href=\"https:\/\/www.independent.co.uk\/news\/world\/americas\/us-politics\/trump-january-6-aftermath-timeline-b2473767.html\"> the January 6 Capitol riot, <\/a>Litinsky and Moss pitched the former president the idea of launching Truth Social, according to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bbc.co.uk\/news\/business-68725771\">BBC<\/a>. They then helped facilitate a merger that took Trump Media public in March.<\/p>\n<p>But relations between the company and Litinsky and Moss turned sour. <\/p>\n<p>Attorneys for Trump Media had argued that UAV was not entitled to shares in the company alleging mismanagement by the former <em>Apprentice <\/em>contestants.<\/p>\n<p>But earlier this month, a federal judge in Delaware ruled in the firm\u2019s favor in a lawsuit filed against Odyssey Transfer and Trust, a securities transfer agent. The court\u2019s summary judgment in the case came in response to UAV seeking assurance from the judge that it would be able to sell its minority stake in Trump Media.<\/p>\n<p>DJT\u2019s stock price has been particularly volatile over the last few months. <\/p>\n<p>The share price hit a high of $79.38 on its first day of trading as a public company in March but closed Thursday at $13.98 per share. Trump, who owns 114.75 million shares, has seen his stake drop from being worth $6.2bn in May to $1.6bn based on Thursday\u2019s closing price, CNN <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2024\/09\/26\/business\/trump-media-co-founder-former-apprentice-contestant-dumps-shares\/index.html\">reported<\/a>.<\/p>\n<p>Following the presidential debate against rival Kamala Harris, the company <a href=\"https:\/\/www.independent.co.uk\/news\/world\/americas\/us-politics\/trump-truth-social-stock-presidential-debate-b2610989.html\">saw another dip in the share price.<\/a><\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.independent.co.uk\/news\/world\/americas\/us-politics\/trump-media-truth-social-stock-sold-apprentice-b2620056.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Your support helps us to tell the story Find out moreClose As your White House correspondent, I ask the tough questions and seek the answers that matter. Your support enables &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=107722\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-107722","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/107722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=107722"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/107722\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=107722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=107722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=107722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}