A surge in the social media company’s market value has generated a windfall for current and former executives, on top of the bonanza for its largest shareholder, former President Trump.
Shares of former President Donald J. Trump’s social media company continued to surge on Wednesday, extending the gains on its first official trading session on the Nasdaq the day before.
After another double-digit percentage gain, the parent of Truth Social approached $9 billion in market value, a windfall for insiders awarded shares in the company.
The biggest beneficiary is Mr. Trump, the company’s largest shareholder, whose stake is worth more than $5 billion, on paper. No other shareholder comes close, according to regulatory filings, but many of Trump Media’s executives have seen their net worth swell this week, in some cases by many millions of dollars.
Devin Nunes
Trump Media stake: More than $7 million
The former Republican congressman from California who became chief executive of Trump Media in 2022.
Phillip Juhan
More than $30 million
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