President-elect Donald Trump has refuted circulating rumors about a potential sale of his stake in Trump Media and Technology Group. In a Truth Social post, Trump labeled these claims as “fake, untrue, and probably illegal,” urging authorities to investigate those responsible for the rumors. Shares of TMTG rose following his denial.
President-elect Trump Dismisses Rumors of Selling His Stake in Trump Media
In a development-boosting share of Trump Media and Technology Group, the parent company of the Truth Social platform, the U.S. president-elect has directly denied rumors about his significant stake in the newly established entity.
In a Truth Social post, Trump labeled the rumors about his purported intention to divest shares in Trump Media and Technology Group (TMTG) as “fake, untrue, and probably illegal.”
“There are fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth,” Trump stated. “THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING! I hereby request that the people who have set off these fake rumors or statements, and who may have done so in the past, be immediately investigated by the appropriate authorities. Truth is an important part of our historic win, and I deeply believe in it. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!”
The shares of TMTG rose by around 9 percent following this statement.
Trump’s 59% Stake in Trump Media Valued at $3.6 Billion Amid Market Shifts and Expansion
According to Wccftech, the president-elect retains a 59 percent stake in TMTG, amounting to 114.75 million shares. With the stock priced at $30 per share, Trump Media currently holds a market capitalization of $6.14 billion, valuing Trump’s stake at approximately $3.6 billion. This valuation represents a recent decrease; TMTG was valued at $5.3 billion earlier in the week before the official election results announcement.
Trump Media and Technology Group's value largely stems from its association with the president-elect, as the company remains in the early stages of revenue generation. In the third quarter of 2024, TMTG reported $1 million in revenue alongside $4.7 million in interest income but posted a net loss of $19.2 million, which included $12.1 million in legal expenses tied to its acquisition of TV streaming technology in August 2024.
Adding to its portfolio, Trump Media and Technology Group recently launched Truth+ TV, a streaming service with live TV and on-demand options. It is now accessible through native Truth+ Android, iOS, and smart TV apps via a dedicated content delivery network (CDN).