Donald Trump owns around 60% of the company|Gage Skidmore|CC BY-SA 2.0
Donald Trump’s social media venture, Trump Media & Technology Group, soared 16% on its first day of trading. It closed at $58 per share under the ticker DJT.
The former president owns around 60% of the company, which is now worth over $4.6 billion. However, he can’t sell his shares for six months.
Even though the business is worth a lot on paper, its finances aren’t so great. Trump Media only made $3.4 million in revenue and lost $49 million in the first nine months of 2023.
But it aims to turnover by challenging Big Tech censorship and expanding Truth Social’s infrastructure.
In other Trump news, he is selling Bibles priced at $59.99.
Amid financial challenges and legal battles, Trump has taken to promoting a line of expensive Bibles with country singer Lee Greenwood.
The Bible includes extra features like the US Constitution and highlights of Jesus’s words in red.