Trump Transfers DJT Shares to Revocable Trust: SEC Documents

President-elect Donald Trump this week transferred his entire share of shares c Trump’s media to a revocable trust of which he is the sole beneficiary, regulatory shavings revealed Thursday evening.

Trump did not receive any money for the gift of his 114,750,000 Trump Media shares warehouse to the Donald J. Trump Revocable Trust on Tuesday, according to a filing in Securities and Exchange Commission.

Because Trump is the beneficiary of the trust, he now “indirectly” owns the Trump Media stock he transferred, the SEC filing noted.

The president-elect’s son, Donald Trump Jr., is the trust’s sole trustee and has sole voting and investment power over securities held by the company, according to a separate SEC filing Thursday.

Trump Media, which trades under the ticker DJT, closed at $35.41 a share on Thursday, making the value of the transferred shares more than $4 billion.

Trump, who is due to be sworn in as president for a second nonconsecutive term on Jan. 20, was the largest individual shareholder in the social media company that runs the Truth Social app. His share represents nearly 53% of the company’s outstanding shares.

CNBC requested comment on the transfer from spokespeople for Trump and Trump Media.

Thursday’s SEC filing said that after Trump transferred his shares, he “directly owned 0 shares of Trump Media & Technology Group Corp. and indirectly owned 114,750,000 shares of Trump Media & Technology Group Corp.”

“The Reporting Person (Trump) is the settlor and sole beneficiary of the Trust,” the filing said.

The type of transfer Trump used this week is not new for the president-elect, although the dollar value of his holdings outpaces the value of any assets he has previously moved.

Before his first inauguration as president in 2017. Trump made similar transfers to the same revocable trust.

At the time, Trump transferred various properties, assets and liabilities to the trust, according to reports prepared by Mazariwhich was then his accounting firm.

He also made transfers to the trust in February 2016 when he was campaigning for president.

Trump has not held an executive position at Trump Media, whose stock began public trading earlier this year after the then-private company merged with publicly traded Digital World Acquisition Corp.

Trump has nominated two Trump Media board members to senior positions in his administration.

Trump has tapped former pro-wrestling mogul Linda McMahon to be secretary of education and Kash Patel, a former Trump White House staffer, to be the next FBI director.

Trump also recently appointed Trump Media CEO Devin Nunes to chair the President’s Intelligence Advisory Board.

This position does not require Senate confirmation.

Trump said Nunes, who previously represented a California district in the House of Representatives, would remain CEO of Trump Media.

– CNBC Christina Wilkie contributed to this report.