Even as the legal chips seem to stay stacked against him, former President Donald Trump came out a winner in another big way this week.
According to Breitbart, Trump was awarded 36 million additional shares of Trump Media stock worth a total of $1.6 billion.
The news broke after a regulatory filing revealed the former president's windfall.
The additional stock was awarded to the former president after Trump Media shares hit certain price benchmarks. Truth Social is owned by Trump Media.
Thanks to the ongoing stellar performance of the stock, Trump was easily able to secure the additional shares.
It was reported that the shares only needed to trade above $17.50 each for 20 consecutive trading days to grab the bonus shares. The stock easily trades above $40 per share.
BREAKING.🚨
Donald Trump has been awarded 36 million shares of Trump Media stock worth $1.8 billion as an "earnout bonus."
Trump’s newly awarded shares, worth nearly $2 billion, were valuated at Tuesday’s closing price of $49.93. The former president is prohibited from selling… pic.twitter.com/TLb3ySYbuZ
— Kyle Becker (@kylenabecker) May 1, 2024
Breitbart noted:
Trump Media got its place on the Nasdaq after merging with a company called Digital World Acquisition Corp., a special purpose acquisition company, or SPAC. These type of mergers offer young companies quicker and easier routes to getting their shares trading publicly.
With the additional shares locked in, Trump now owns roughly two-thirds of the company's shares. The shares, in total, are worth over $5 billion, but it's still considered "paper wealth" until a period of six months passes.
Trump would only be able to tap into the money behind the shares if a special waiver was granted by Trump Media's board of directors.
The former president received plenty of social media applause for the windfall and the continued good health of his company's stock.
"It’s poetic that he’s making billions while rogue judges are trying to silence and bankrupt him. God truly has his back," one X user wrote.
Another X user wrote, "I’m so happy, he deserves it after all he’s been through! I believe in Karma!"
Even as the company had a less-than-desirable 2023, during which it reported nearly $60 million in losses, the shares have had a bit of a rollercoaster ride but overall remained higher than most expected.
