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Truth Social Stock (DJT): Trump’s Stake and Key Facts

Truth social Logo wurrounded by loot bags and a price chart

Key Takeaways

  • Donald Trump owns a majority stake in Truth Social through the Trump Media & Technology Group, with his holdings placed in a trust to separate personal finances from the company’s operations.
  • Truth Social went public in March 2024 through a SPAC merger with Digital World Acquisition Corp, bypassing traditional IPO checks and measures.
  • The company’s stock (DJT) has faced criticism for being compared to meme stocks, having a price detached from fundamentals, and raising concerns about transparency due to its SPAC merger.
  • Trump’s investments extend to well-known companies like Apple, Nvidia, Amazon, Microsoft, and others, reflecting a diversified portfolio beyond his media ventures.

Truth Social is the social media platform launched by Donald Trump. The company was born out of his departure from Twitter following his permanent ban in January 2021. Frustrated by what he perceived as censorship on mainstream platforms, Trump created Truth Social under the Trump Media & Technology Group (TMTG). Its mission is to provide a space for free speech, particularly for conservatives, and more recently, offer fintech services through its Truth.fi platform.

Focusing on countering perceived bias in social media, Truth Social quickly gained attention in the political sphere. Beyond Trump, key figures in the venture include former Republican Congressman Devin Nunes, who serves as the CEO of TMTG. In addition, one of the founders is Andy Litinsky, former The Apprentice contestant and radio host.

But how much of Truth Social does Trump own, and how did the company transition into a publicly traded entity in less than 2 years?

How Much Truth Social Stock(DJT) Does Trump Own?

Donald Trump has a majority stake in Truth Social through his holding in the Trump Media & Technology Group (ticker: DJT). Up until recently, Trump had 114.75 million shares – equal to 53% ownership of publicly traded TMTG. 

This arrangement, while common for high-profile figures, has sparked questions about the extent of Trump’s involvement and potential conflicts of interest. He recently transferred these shares to his Donald J. Trump Revocable Trust, in an attempt to separate his personal finances from the direct operations of the company. 

Where does Truth Social stock (DJT) trade?

Trump Media & Technology Group Corps trades on the NASDAQ under the ticket DJT – a nod to its driving entity Donald Trump.

The price action of DJT stock has been volatile since its public debut in October 2021, driven largely by political events and public interest in Trump. DJT stock enjoyed a significant rally following the merger between Trump Media and Technology Group and Digital World Acquisitions Corp in March 2024, which brought Truth Social under the DJT umbrella. The stock has been steadily ascending in value once again since Trump’s election victory was sealed in November 2024.

What Other Stock Is in Trump’s Portfolio?

Donald Trump’s portfolio extends beyond Truth Social, though the specifics are often opaque. Trump’s financial interests include various Magnificent 7 stocks and industries aligned with his business endeavors:

  • Apple Inc. (AAPL): Apple is a global leader in consumer electronics, known for products like the iPhone and Mac.
  • Microsoft Corp. (MSFT): As a major player in software, cloud computing, and artificial intelligence, Microsoft is a staple in many portfolios.
  • Nvidia Corp. (NVDA): Nvidia dominates the graphics processing unit (GPU) market and is pivotal in the development of AI and gaming technologies.
  • Amazon Inc. (AMZN): A leader in e-commerce and cloud services, Amazon is one of the world’s most valuable companies.
  • Alphabet Inc. (GOOG, GOOGL): Alphabet, Google’s parent company, is central to internet services, digital advertising, and emerging technologies like AI. 
  • Berkshire Hathaway Inc. (BRK.B): Led by Warren Buffett, Berkshire Hathaway is a diversified holding company with investments across numerous industries.
  • Broadcom Inc. (AVGO): Broadcom is a key player in semiconductor manufacturing and infrastructure software solutions.

When Did Truth Social Go Public?

The journey to Truth Social becoming part of a publicly traded company is unconventional, involving a process known as a Special Purpose Acquisition Company (SPAC). Here’s the timeline of key events:

  • 2021: Trump Media & Technology Group (TMTG) was established as a private company with no public shareholders. Its goal was to create a platform that could compete with existing social media giants.
  • 2021: Digital World Acquisition Corp (DWAC), a shell company with no business operations, was formed. SPACs like DWAC are created solely to raise capital and acquire or merge with other companies.
  • 2022: TMTG officially launched Truth Social as a free-speech-focused alternative to platforms like Twitter.
  • March 2024: DWAC merged with TMTG, effectively making Truth Social a public company without undergoing the traditional IPO process. This SPAC merger allowed the stock to bypass regulatory and financial checks typically required for publicly traded companies.

As a result of these events, many investors have questioned the legitimacy and stability of Truth Social. With a market capitalization in the billions, financial losses from previous years ramping up, and users flowing away, users remained cautious about the DJT stock.

What Is a SPAC?

A Special Purpose Acquisition Company (SPAC) is a publicly traded shell company created to raise funds and acquire or merge with an existing private company. Sometimes called “blank-check companies” SPACs do not have any operations or products of their own. Instead, they exist solely to help private companies go public quickly.

SPACs have gained popularity in recent years because they allow companies to bypass the lengthy and expensive traditional initial public offering (IPO) process. However, the lack of initial scrutiny can raise concerns about the transparency and financial stability of the companies involved. Truth Social’s SPAC merger with DWAC sparked criticism about the legitimacy of the process and the risks for investors.

Truth Social Expands to the Financial Sector

On January 29, 2025, Trump Media & Technology Group announced its expansion into the financial services sector with the launch of Truth.Fi. This new platform aims to offer financial solutions tailored for “American patriots” who have faced challenges with traditional banking institutions. Truth.Fi’s offerings will include cryptocurrencies, customized separately managed accounts (SMAs), and tailored exchange-traded funds (ETFs), with a particular focus on Bitcoin and related securities.

The company plans to invest up to $250 million of its $700 million cash reserves into these financial products, managed through a custody account with Charles Schwab. This move aligns with Trump’s pro-crypto stance, including the launch of the meme coin $TRUMP on January 17, 2025.

Criticisms of Truth Social Stock (DJT)

Truth Social’s stock has faced several criticisms since its public debut. While some investors see it as an opportunity, others view it as a highly speculative and risky investment.

  • Meme stock comparisons: DJT’s price movements often resemble those of meme stocks like GameStop and AMC, driven more by social media hype and political sentiment than by company fundamentals.
  • Price disconnected from fundamentals: Critics argue that the stock’s value does not align with the performance or profitability of the underlying company, making it highly volatile and unpredictable. For example, in 2023 the company made $4.1 million in revenue but lost $58 million.
  • Concerns about transparency: The SPAC merger with DWAC allowed Truth Social to bypass traditional IPO checks, raising questions about the company’s legitimacy, financial health, and long-term viability.

These criticisms highlight the risks associated with investing in Truth Social. At the same time, they emphasize the importance of due diligence for potential investors.

Closing Thoughts

Truth Social’s emergence as a social media platform and public company represents a unique intersection of politics, technology, and finance. Furthermore, with Donald Trump set to become president of the United States, the platform’s success is tied to his brand.

While Truth Social has garnered significant attention and sparked debate, its long-term existence will depend on its ability to balance political aspirations with sustainable business practices.

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