Trump Media Executives Get Half Windfall Whist Stock Price


Trump Media executives are reaping massive financial gains despite a continued decline in the stock price for the company's stock.

The corporation's Securities and Exchange Commission (SEC) filings were posted this month tell us how the executives in the company are being compensated in wages and bills.

What is a promissory note?

A promissory note is a halfway house between an IOU and a loan agreement. It is a legally binding financial instrument that guarantees the holder an amount based on an agreement between two parties.

In the case of Trump Media, the company's executives were given promissory notes in the amount of $6.25 million.

That breaks down to $1.15 million for Chief Executive Devin Nunes, $4.9 million for Chief Financial Officer Phillip Juhan and $200,000 for Chief Operating Officer Andrew Northwall.

Trump Media shares continue to fall

Trump Media merged with Digital World Acquisition Corp on March 26 of this year and saw the company's stock hit a high watermark of around $80.

Since then the stock has been in a steady free fall with the stock at Monday's closing bell at $37.17 for shares bearing the former President's initials, DJT.

So in the space of two weeks of trading, the stock is down 55% of the original $80 watermark and has seen a 12% drop on Friday and another 10% this week.

That's a troubling trend for the Republican presidential hopeful, as the company posted a net loss of $58 million last year on revenue of just $4.1 million. The company is also funded by a retail investor base according to Nunes, which he would mention was an integral part of Trump Media's foundation.

In a recent Fox News interview, which is part of 8K recording on the company's website, Nunes would say “The most amazing part about our company, the retail investors. So when we went out to get this union, we had it. It took a while. One of the reasons, not only the regulation, but we had almost 400 thousand people, retail shareholders who had invested in this company. Now guess what has happened over the last two weeks, we think we've added over 200,000 new retail investors. I would say there is not another company out there that has retail investors like this.”

Social media app Truth Social is affiliated with Trump Media, in which the former President is the majority shareholder. He currently has a 58% stake in the company, which amounts to around 78 million shares.

Image: Ideogram.

Post Trump Media Executives Get Half Windfall Whist Stock Price appeared first on Because.



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