1 week Ago
Topline ARC Global Investments and its founder Patrick Orlando have offloaded nearly their entire stake in Trump Media & Technology Group and are no longer major shareholders in the Truth Social parent, according to a recent regulatory filing, marking the latest stakeholder in the company to dump their shares. Key Facts Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you'll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here .
Surprising Fact Other major stakeholders have unloaded or sold shares in Trump Media in recent months. United Atlantic Venture offloaded nearly 11 million shares —equaling a 5.4% stake—in September and now owns just 100 shares in Trump Media.
Phillip Juhan, Trump Media’s CFO, adopted a plan earlier this month to sell shares he owns worth about $13.4 million by December 2025, according to an SEC filing. Juhan sold nearly 12 million shares on Nov.
12. Eric Swider, the company’s director, and Glabe Scott, its general counsel, sold 3.8 million and over 500,000 shares on Nov.
8, respectively, filings show. CEO Devin Nunes unloaded more than 630,000 shares on Aug. 22.
Key Background Orlando is the former chief executive of Digital World Acquisition Corp., which merged with Trump Media to take the company public in March. He was ousted from the role just before the deal closed, though his investment firm ARC Global had also sponsored the merger.
ARC Global and Orlando sued Trump Media earlier this year, alleging they deserved a larger stake in the freshly public company after holding Class B shares in the company they believed would be converted to Class A shares, which trade at a higher rate. A Delaware court ruled in favor of Orlando and ARC Global in September, awarding them more than 500,000 additional shares. Forbes Valuation President-elect Donald Trump, who holds a roughly 57% stake in Trump Media, has a fortune valued at $5.
3 billion, according to our latest estimates. The value of his stake—totaling 114.75 million shares—increased by about $137 million as of Friday’s share price.
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