Trump transfers nearly $4 billion of Trump Media shares to revocable trust

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The story "Trump transfers nearly $4 billion of Trump Media shares to revocable trust" was covered 7 hours ago by Business Standard, a news publisher based in India.

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Trump transfers nearly $4 billion of Trump Media shares to revocable trust - Business Standard

Quick Summary:

Shares of Trump Media and Technology Group slid in midday trading Friday after President-elect Donald Trump transferred all of his shares into a revocable trust, according to a regulatory filing.

Trump transferred all of his nearly 115 million shares worth around USD 4 billion on paper in the parent company of social networking site Truth Social as a bona fide gift to the Donald J.

It's not clear why Trump transferred the stock.Donald Trump Jr.is the sole trustee and has sole voting and investment power over all securities owned by the trust.