Trump set to make $1.25B ‘earnout’ bonus as Trump Media stock hits benchmark
NY Post
Former President Donald Trump is set to earn a $1.25 billion “earnout” bonus from his media company after its stock price exceeded a key threshold that made him eligible for the reward.
Trump, who owns a majority stake in Trump Media and Technology Group, is due to receive an additional 36 million shares of the company on Tuesday.
On Monday, Trump Media’s stock closed at around $35.50 — twice the value of the $17.50 benchmark minimum share price that the company needs to hit in order for Trump to be eligible for the bonus.
The earnout requires Trump Media stock to hit the benchmark for 20 trading days within a 30-day trading window beginning on March 25, when the company went public. The 20th day is Tuesday.
“Assuming the full issuance of the Earnout Shares, President Donald J. Trump will receive 36,000,000 Earnout Shares,” the company said in a securities filing cited by CNBC.
Trump Media, the parent company of his social media app Truth Social, has the power to issue a total of 40 million earnout shares as part of its merger with the blank-check company Digital World Acquisitions Corp.
