25-04-24, 10:47
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#9
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TRUMP to Receive $1.2BIL BONUS For Trump Media DESPITE Stock Tanking
TRUMP to Receive BONUS Worth $1.2BIL for Trump Media Stock Performance
A price floor means ex-president gets bonus even though Trump Media & Technology Group’s stock value has plummeted.. 'Trump has dodged financial calamity – for the time being'...Lloyd Green
The Guardian 25 APR 2024
Opening day saw the value of Trump Media & Technology Group stock at almost $80; Tuesday it was trading at $32.57
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 (TMTG), owner of his Truth Social platform, under an “earn-out” windfall which boosts the paper value of his stake in the business to about $3.7bn.
He was able to receive the bonus if TMTG’s stock traded above $17.50 a share for 20 days out of any 30-day period within the first three years of the firm’s stock market debut – a milestone it reached after closing at $32.57 on Tuesday.
Trump’s 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’ fluctuating value have at times made him one of the world’s wealthiest people on paper.
THE DEVIL LOOKS AFTER ITS' OWN
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