As BlueSky Surges, Could Trump Sell His Truth Social Shares Ahead of Inauguration?

The social media industry is fiercely competitive. As President-elect Donald Trump nears his inauguration, could he sell his stock in Trump Media & Technology Group Corp DJT?

The Competition: Trump Media’s Truth Social faces competition from the usual suspects, Meta Platforms-owned Facebook and Instagram. It also is a competitor of Elon Musk‘s X, formerly known as Twitter. Musk is a close ally and benefactor of Trump’s campaign.

Bluesky, a newcomer on the social media scene, is making headlines. The Jack Dorsey-founded app saw a large influx of users following Trump’s win in November, apparently those displeased with Musk’s leadership of X in recent years.

Could Trump Sell?: Trump is technically able to sell his stake in Truth Social ahead of his inauguration. The billionaire owns 115 million shares in the Sarasota, Florida-based company, placing his total position at around $3.9 billion. The company has 216,924,448 shares outstanding.

Trump has denied the rumors of possible share sales, calling them “fake and untrue.” Shares of the company rose following Trump’s statement.

While Trump Media has a market capitalization of $7.7 billion, it reported $1 million in revenue last quarter on a $19.2 million net loss. The loss includes $12.1 million in legal fees and $3.9 million in research and development spending, according to the company.

The company has a book value of over $800,000,000; most of its assets are in cash and short-term investments, proceeds from issuing common stock.

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