President-elect Donald Trump disclosed the transfer of his entire stake Trump Media (DJT), 114.75M shares, as a bona fide gift to Donald J. Trump Revocable Trust for no consideration. Following the transaction, Donald Trump directly owned zero shares of Trump Media & Technology Group. Trump is the settlor and sole beneficiary of the trust. A member of Trump’s immediate family is the trustee of the trust and has sole voting and investment power over all securities owned by the trust. The reporting person did not sell any shares as part of the transaction. In a separate filing, it was disclosed the trust will be run by Trump’s eldest son, Donald Trump Jr. Shares of Trump Media are well off their lows on the day, trading down 1% to $34.98 into Friday’s close.
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