President-elect Donald Trump has transferred his entire stake in Trump Media & Technology Group to a revocable trust, according to a Dec. 19 regulatory filing.
The document filed with the Securities and Exchange Commission described the transaction as a gift, with Trump receiving no money for the transfer of his nearly 115 million Trump Media shares to Donald J. Trump Revocable Trust.
Since Trump is the lone beneficiary of the trust, he now “indirectly” owns the Trump Media shares he transferred, the SEC filing noted.
The trust is managed by Trump’s eldest son, Donald Trump Jr., who serves as the sole trustee with full voting and investment authority over its assets….