Trump Media Group's major shareholder has sold nearly all of his shares in the company
a regulatory document from the Trump Media and Technology Group shows that major shareholder ARC Global Investments has sold almost all of its shares in the media company. ARC and its manager, Patrick Orlando, currently hold about 0.01% of the shares, down from over 5% or more than 11 million shares in September. Orlando was formerly CEO of blank-check company Digital World Acquisition, which helped take Trump Media public. He was fired before the deal was completed this year. In September, a judge in Delaware ruled that Trump Media had violated an agreement with Orlando's ARC Global, which must receive over 500,000 additional shares before the end of the insider sales lock-up period. Trump owns nearly 115 million shares of stock and nearly 53% of Trump Media, which owns the Truth social media platform.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin And Ethereum ETFs Continue Positive Inflow Streak! Here Are The Latest Data
The cryptocurrency market saw significant inflows in spot exchange-traded funds (ETFs) for both Bitcoin and Ethereum.
Trump's Former Advisor Makes Million Dollar Investment in WLFI
Frax Finance has offered to invest up to $10 million in the Trump-led WLFI.
Former Ripple Executive Gives Date for End of SEC Case, Explains What Will Happen! – Analyst Makes Incredible XRP Price Prediction!
Former Ripple executive Sean McBride claimed that the XRP case could be resolved within a week.
OPUSDC now launched for USDC-M futures trading