Trump Media co-founders sell almost all of their DJT shares worth $100 million

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The co-founders of Trump Media & Tech Group – the alleged brains behind Donald Trump's Truth Social platform – have sold almost all of their shares in the company, worth a reported $100 million.

According to a regulatory filing, United Atlantic Ventures has sold almost all of its 5.5 percent stake in Trump Media – trading under the ticker symbol DJT – which owns Donald Trump's Truth Social platform.

United Atlantic Ventures is an investment firm owned by Andrew Litinsky and Wesley Moss, who were also former season two contestants The apprentice.

The duo sold most of their shares in the company after a lockup agreement that prevented major investors, including the former president, from selling shares ended on September 19.

Trump has yet to unload any of his shares, as the Republican presidential candidate insisted he would not sell his shares and reiterated his commitment to Truth Social as the lock-up agreement ended.

“A lot of people think I'm going to sell my stocks, you know, they're worth billions of dollars, but I don't want to sell my stocks. I don’t need money,” he said earlier this month. “I love it. I use it as a way to get my word out.”

After Trump was banned from Twitter — now Elon Musk's They then helped facilitate a merger that took Trump Media public in March.

But relations between the company and Litinsky and Moss deteriorated.

Lawyers for Trump Media had argued that UAV had no right to shares in the company and claimed there had been mismanagement apprentice Participant.

But earlier this month, a federal judge in Delaware ruled in the company's favor in a lawsuit against Odyssey Transfer and Trust, a securities transfer agent. The court's summary judgment in the case came in response to UAV asking the judge for assurances that it could sell its minority stake to Trump Media.

DJT's share price has been particularly volatile in recent months.

The share price peaked at $79.38 on its first day of trading as a public company in March, but closed at $13.98 per share on Thursday. Trump, who owns 114.75 million shares, saw his holdings fall from $6.2 billion in May to $1.6 billion based on Thursday's closing price, CNN reported.

After the presidential debate against rival Kamala Harris, the company saw its stock price fall further.