The majority of the existing shares are held by former U.S. President Donald Trump, who owns nearly 79 million shares and could earn a further 36 million shares based on the stock’s performance. Trump’s current stake in the company was valued at around $2.1 billion as of Monday’s close. That stake had been worth more than $5 billion after the stock spiked when it began trading on the Nasdaq on March 26. Trump is barred from selling Trump Media shares until a six-month lockup period expires, but he could seek a waiver from the company’s board, which includes one of his sons and several former members of his administration. Several investment firms that had stakes in DWAC before it merged with Trump Media, including Saba Capital, have registered to sell DJT shares. Trump Media says it has about 600,000 individual retail investors. A spokesperson said Monday’s filing reflects previously disclosed issuances. Trump Media stock fell 18% on Monday and another 12% today. Trump owns 57% of the stock and could receive an additional 36 million bonus shares if the stock trades above a certain level for a certain number of days. He is also subject to a six-month lockup unless the board grants him a waiver. The amount of stock that the original blank check firm sponsors and individuals own is relatively small compared with Trump’s nearly 115 million shares, including the bonus shares, and almost 14 million shares and warrants held by Arc Global Investments, the second-largest insider owner, according to FactSet. Tesla Tesla is losing another two top executives in addition to cutting 10% of its global workforce, or about 14,000 jobs. An internal email from CEO Elon Musk cited the need to cut costs and increase productivity. The electric-vehicle maker is dealing with tougher competition and weakening sales. Musk said the job cuts would prepare Tesla for its next growth phase cycle. But the announcement comes after Tesla reported an 8.5% drop in first-quarter deliveries, a production trim at its Shanghai facility in March, and a pause in Cybertruck production to fix manufacturing issues. Musk wrote that workers remaining at Tesla face a difficult job ahead. First-quarter earnings are scheduled to be released Tuesday, April 23, and Wall Street expects sales and per-share profit to be lower than in the fourth quarter and the first quarter last year.
@Beefeater_Fella What makes me smile is that they say the company is not in debt and has $200 million but the company has never made a profit so in theory the $200 million must either be a loan or a gift ?
@Beefeater_Fella At one side reduced production in china is okay tho