This major Trump Media shareholder has offloaded nearly entire stake
ARC Global Investments, a major shareholder in Trump Media & Technology Group, has divested nearly its entire stake in the media firm. The news was revealed in a regulatory filing this week. The investment company and its manager Patrick Orlando now hold about 0.01% of the stake, a sharp decline from over 5% or more than 11 million shares owned in September.
Orlando's history with Trump Media
Orlando, the manager of ARC Global Investments, was the former CEO of Digital World Acquisition. The company was key in taking Trump Media public. However, Orlando was ousted before the deal was completed this year. In September, a Delaware judge ruled that Trump Media had breached an agreement with ARC Global, and ordered it to give ARC over half a million additional shares before an insider sales lock-up period ended.
Trump's significant stake in his media company
Former US President Donald Trump owns nearly 115 million shares and holds an almost 53% stake in Trump Media. The media company owns the Truth Social media platform. This massive ownership highlights Trump's immense influence and control over his media venture.
