Trump insiders cashed big money on his stupid media company
Trump Media Insiders dump their stocks in Truth Social’s parent company. Trump Media & Technology Group director Eric Swider decided to sell all the stock he owned directly in the company on Friday, offloading 136,183 shares at $28,23 per share, which holds a total value of over $3,8 million, according to the most recent filing with the Securities and Exchange Commission.
Swider also holds a bit more over 18,000 shares in TMTG via an LLC, according to Zach Everson.
Swider has also been the CEO of Digital World Acquisition Corporation, which ultimately merged with TMTG in March when the media company was on the verge of running out of cash.
The deal was also seen as a major “bravo” for Trump since it infused $300 million into the company and kept Truth Social up and running.
The merger ultimately helped the media entity make quite a strong debut on the stock market, with a valuation of almost $8 billion, which sent the worth of Trump’s personal stake in the company skyrocketing all the way to $3 billion.
However, Swider wasn’t, in fact, the only one to offload his Trumpian assets. Chief Financial Officer Phillip Juhan decided to dump 320,000 shares at the price of $30.65 a piece, and three days later he sold another set of 64,000 shares at the price of $32.97 each. In total, he was left with over 265,000 shares in the social media endeavor.
Only recently, Donald Trump declared it would hit China, Mexico, and Canada with brand new tariffs on the first day of his presidency, as an attempt to force them to crack down on illegal immigration and drug smuggling into the United States.
One Response
It’s called a joke, lighten up