Trump Announces He Will Not Sell Shares in Social Media Company

Trump Declares He Will Not Sell Shares in Social Media Company

Former President Donald J. Trump announced on Friday that he has no intention of selling any shares in his social media venture, Trump Media & Technology Group, as a lockup measure preventing such sales is set to expire next week. His declaration led to a notable increase in the trading of shares associated with the company, with the stock price soaring by nearly 12 percent.

During a press conference held in the afternoon, Mr. Trump addressed weeks of speculation regarding whether he would liquidate his substantial 57 percent stake in the company, which operates his social media platform, Truth Social. He emphatically stated, “No, I am not selling.” He further expressed his affection for Truth Social, stating, “I love it. I use it as a method of getting out my word.”

The response from users on Truth Social was immediate, with many quickly sharing video snippets of Mr. Trump’s comments about the platform, which has become a significant outlet for him to voice his opinions and engage with critics. Although Mr. Trump does not hold an official position within the company, he remains its most prominent figure and primary attraction.

In his remarks, he added, “I don’t want to sell my shares. I don’t need money.” This statement reinforces his commitment to the platform and suggests a long-term vision for its success.

The six-month lockup provision, which began when Trump Media made its debut on Wall Street in March, has restricted Mr. Trump from selling his shares or using them as collateral for loans. This lockup period is set to conclude on Thursday.

As the largest shareholder of Trump Media, Mr. Trump holds approximately 115 million shares, which are valued at around $2 billion on paper.