Donald Trump’s social media company slumped after the president opened the door to selling his entire $2.3bn stake, just as global investors are bracing themselves for his “liberation day” tariffs.
Shares in Trump Media and Technology Group, which operates Truth Social, fell as much as 8 per cent early on Wednesday after the company said in a filing with regulators that it planned to sell more than 142mn shares.
The filing with the Securities and Exchange Commission late on Tuesday showed that Trump’s 114mn shares are included in the sale which will take place “from time to time in one or more offerings”. The stake is worth about $2.3bn and held in a trust controlled by his son Donald Trump Jr.
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