One of the largest investors in Trump Media & Technology Group sold 7.5 million shares in the parent of former President Donald Trump’s Truth Social platform, a filing with the Securities and Exchange Commission showed Thursday.
The shares, which accounted for 5% of Trump Media, were worth about $100 million. The seller, United Atlantic Ventures, now owns just 100 shares after the massive sell-off.
The company was founded by Andy Litinsky and Wes Moss, who were contestants on Mr. Trump’s reality show “The Apprentice,” but their relationship with the firm broke down.
Mr. Trump is the majority stakeholder in the company, holding 114.75 million shares worth over $1.7 billion. The stock, symbol DJT, rose 6% Friday to close at $14.75. That’s down from a peak of $79.38 in March.
• Alex Miller can be reached at amiller@washingtontimes.com.
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