{"id":26490,"date":"2024-04-25T04:21:29","date_gmt":"2024-04-25T09:21:29","guid":{"rendered":"https:\/\/ustower.net\/?p=26490"},"modified":"2024-04-25T04:21:36","modified_gmt":"2024-04-25T09:21:36","slug":"trump-to-receive-bonus-worth-1-2bn-for-trump-media-stock-performance","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=26490","title":{"rendered":"Trump to receive bonus worth $1.2bn for Trump Media stock performance"},"content":{"rendered":"\n

A price floor means ex-president gets bonus even though Trump Media & Technology Group\u2019s stock value has plummeted<\/strong><\/p>\n\n\n\n

Former president Donald Trump<\/a> qualified for a bonus worth $1.2bn after shares in his social media company remained above a certain value despite falling sharply.<\/p>\n\n\n\n

Trump is poised to receive 36m additional shares in Trump Media & Technology Group (TMTG), owner of his Truth Social platform, under an \u201cearn-out\u201d windfall which boosts the paper value of his stake in the business to about $3.7bn.<\/p>\n\n\n\n

He was able to receive the bonus if TMTG\u2019s stock traded above $17.50 a share for 20 days out of any 30-day period within the first three years of the firm\u2019s stock market debut \u2013 a milestone it reached after closing at $32.57 on Tuesday.<\/p>\n\n\n\n

Trump\u2019s shares in his social media company have offered him a financial lifeline as he faces about $500m in legal penalties after being found liable in civil fraud, defamation and sexual abuse cases. While he cannot sell his stock until September due to the terms of a lockup agreement, the shares\u2019 fluctuating value have at times made him one of the world\u2019s wealthiest people on paper.<\/p>\n\n\n\n

After a stunning landing on New York\u2019s Nasdaq stock exchange, the value of Trump\u2019s social media company \u2013 which trades as DJT \u2013 has fallen drastically. The stock hit a high of almost $80 on its opening day, but declined in fits in the following weeks.<\/p>\n\n\n\n

Trump Media\u2019s CEO, Devin Nunes, has suggested<\/a> that short sellers betting on the loss of value may have been responsible for manipulating the stock.<\/p>\n\n\n\n

Shares in Trump Media tanked further last week, falling 12% after the company revealed<\/a> it could sell millions of additional shares in the coming months. They fell another 8% on Tuesday, even as they enabled Trump to qualify for his earn-out shares.<\/p>\n\n\n\n

The company has also faced political scrutiny over the firm\u2019s financial backers. A Democratic-aligned group issued a call earlier this month<\/a> for lawmakers to investigate the company over allegations of influence peddling, after the Guardian <\/em>reported<\/a> that a Russian-American businessman under federal criminal investigation helped prop up the company.<\/p>\n\n\n\n

Truth Social has become a personal soapbox for Trump to issue statements to his supporters since its launch in 2022. While its user base is tiny compared with more established social networks, such as X (formerly Twitter), the platform has outgrown other rightwing apps.<\/p>\n\n\n\n

Trump is now on trial<\/a> in a Manhattan courtroom, with prosecutors alleging that he sought to undermine the 2016 presidential election through making illegal hush-money payments to cover up his affair with adult film star Stormy Daniels. Trump\u2019s defense lawyers have maintained he is innocent of all 34 felony counts of falsifying business documents, in what is the first criminal trial of a former president in US history.<\/p>\n\n\n\n

theguardian<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A price floor means ex-president gets bonus even though Trump Media & Technology Group\u2019s stock value has plummeted Former president Donald Trump qualified for a bonus worth $1.2bn after shares in his social media company remained above a certain value despite falling sharply. Trump is poised to receive 36m additional shares in Trump Media & Technology Group […]<\/p>\n","protected":false},"author":5,"featured_media":26491,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1155],"tags":[22830,28025,28026,1230],"class_list":["post-26490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bonuses","tag-media-stocks","tag-share-prices","tag-trump"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/26490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26490"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/26490\/revisions"}],"predecessor-version":[{"id":26492,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/26490\/revisions\/26492"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/26491"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}