Apprentice Contestant Engages in $100 Million Transaction of Trump Media Shares

September 27, 2024 02:22 AM PDT | By Team Kalkine Media

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Apprentice Contestant Engages in $100 Million Transaction of Trump Media Shares — Image source: Shutterstock

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Highlights

Andy Litinsky, co-founder of Trump Media & Technology Group, has significantly reduced his shareholding amid a legal dispute.
United Atlantic Ventures now holds only a minimal number of shares, down from millions earlier this year.
Former President Donald Trump maintains a substantial stake in the company and has no intentions of divesting.

Article

Andy Litinsky, a prominent figure in Trump Media & Technology Group Corp {NASDAQ:DJT} and a former contestant on The Apprentice, has substantially diminished his ownership in the company. Recent regulatory filings reveal that Litinsky's firm, United Atlantic Ventures, has reduced its holdings to a mere 100 shares, a drastic decline from over 7.5 million shares at the beginning of the year. This reduction coincides with ongoing legal disputes between Litinsky and Trump Media concerning the shares.

The decrease in shareholding comes after the expiration of lock-up restrictions that previously prevented insiders from liquidating their stakes. With these restrictions lifted, Litinsky’s actions signal a notable shift in his engagement with the company.

Meanwhile, Donald Trump, the former president and a significant shareholder with 114.75 million shares, has publicly stated that he has no plans to reduce his stake, despite the company's stock experiencing a significant downturn in value. Currently valued at approximately $1.6 billion, the stock's decline has raised questions about the future trajectory of the company and its market performance.

The dynamics within Trump Media & Technology Group reflect broader trends and challenges in the media and technology sectors, where legal issues and market volatility can heavily influence stakeholder decisions. As the company navigates this complex landscape, the actions of its key figures, particularly those like Litinsky and Trump, will remain under scrutiny by analysts and market observers.

In summary, the substantial change in Litinsky's holdings, combined with Trump's commitment to retaining his shares, underscores the intricate interplay of personal stakes and legal challenges that characterize the current environment surrounding Trump Media & Technology Group.

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