President-elect Donald Trump transferred over 100 million shares of Trump Media to a revocable Trust, a move revealed in SEC filings Thursday. Trump is the trust's sole beneficiary and indirectly retains ownership of the shares, which are valued at over $4 billion. Donald Trump Jr. is the sole trustee, controlling voting and investment decisions. The transfer of Trump Media shares to the revocable trust mirrors similar asset transfers Trump made before his 2017 inauguration, though the value of the shares far exceeds his previous moves. In 2017, Trump transferred real estate holdings, assets, and liabilities to the same trust.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02President-elect Donald Trump transferred over 100 million shares of Trump Media
00:06to a revocable trust, a move revealed in SEC filings Thursday.
00:09Trump is the trust's sole beneficiary and indirectly retains ownership of the shares,
00:13which are valued at over $4 billion.
00:16Donald Trump Jr. is the sole trustee, controlling voting and investment decisions.
00:20The transfer of Trump Media shares to the revocable trust mirrors similar asset
00:24transfers Trump made before his 2017 inauguration.
00:27Though the value of the shares far exceeds his previous moves.
00:31In 2017, Trump transferred real estate holdings, assets, and liabilities to the same trust.