A Trump Media & Technology Group distributed this week stock blocks valued at just over US $ 825 thousand For its directors, including nominees from the government of President Donald Trump Kash Patel (FBI) and Linda McMahon (Department of Education). Both await formal confirmation for positions.
As part of the Board of Board members’ grant package, the Truth Social controller issued on Tuesday (28) almost 26,000 shares for its six directors: Patel, McMahon, former US commercial host Robert Lighthizer, Eric Swider, Kyle Green and Donald Trump Jr., according to documents released by the United States Securities Commission (SEC) on Thursday (30).
Many critics of President Trump have stated that their complex network of financial participation in various properties, cryptocurrencies and their social network company could help you profit from its presidency and obtain undue favors from business partners that also serve your government.
Trump tomou at least one measure to avoid a conflict of interest. In December, he announced that his majority participation in Trump Media had transferred to a revocable Trust from which the president’s eldest son, Trump Jr., is the only beneficiary and administrator, according to regulatory records. He does not vote for the decisions of the company or management.
It is common for members of the board of directors of a company to receive quotas, and there is no proof that these concessions have been something beyond the typical distributions of papers to members of the board.
However, the financial relationships that potential Trump government high -level leaders have Trump Media – a company built on the president’s brand and a business in which the president is the dominant shareholder – can increase concerns about conflict of conflicts Interest that already involves the company and the second Trump management.
The documents indicate that the actions were granted “As a counterpart of services provided” from the opening of the company’s capitalheld in March 2024.
The emissions of restricted titles, in which about 25% of the total quotas they received -A quota of about 6.5 thousand, each worth more than US $ 200 thousand, in the market closure this Friday (31)-can be immediately sold.
The other 75% of participation units must be delivered to quarterly installments between March 2025 and March 2027.
The disclosure of the gifts occurred on the same day Patel was the target of a harsh US Senate confirmation hearing, which included questions about their previous comments that praised the US Capitol riot participants on January 6, 2021.
The company also announced this week expansion plans for financial services and purchase of Bitcoin and other cryptocurrencies. Trump Media said it plans to launch a fintech brand called Truth.fi and introduce investment vehicles that will focus on American growth, manufacturing, energy and the “patriot economy.”
Matt Egan is Marshall Cohen CNN contributed to this report.
