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Major Trump Media shareholder sells nearly entire stake
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Major Trump Media shareholder sells nearly entire stake
Nov 15, 2024 2:33 PM

Nov 15 (Reuters) - Trump Media & Technology Group's ( DJT )

key shareholder, ARC Global Investments, has unloaded

nearly all its stake in the media company, it said in a

regulatory filing on Thursday.

ARC and its manager Patrick Orlando now hold about 0.01%

stake, down from more than 5% or over 11 million shares in

September.

Orlando was the former CEO of the blank-check company

Digital World Acquisition that took Trump Media ( DJT ) public. He was

ousted before the deal closed this year.

A Delaware judge had ruled in September that Trump Media ( DJT )

breached an agreement with Orlando's ARC Global and the fund

must receive more than half a million additional shares before a

lock-up on insider sales expires.

U.S. President-elect Donald Trump owns nearly 115 million

shares and has a nearly 53% stake in Trump Media ( DJT ), which owns the

Truth Social media platform.

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