Overview

Trump Media and Technology Group (DJT), the company behind the Truth Social platform, has announced a $400 million share buyback program. This financial maneuver aims to enhance shareholder value without impacting the company’s ongoing Bitcoin treasury initiatives.

Key Highlights

• Trump Media has successfully raised over $2 billion from approximately 50 institutional investors specifically to build a Bitcoin treasury.
• The share buyback will take place through open market transactions, with the repurchased shares being retired by the company.
• According to CEO Devin Nunes, with around $3 billion on the balance sheet, Trump Media is positioned to make strategic movements that support substantial shareholder returns.

“Since Trump Media now has approximately $3 billion on its balance sheet, we have the flexibility to take actions like this which support strong shareholder returns, as we continue exploring further strategic opportunities,” said CEO Devin Nunes.

As part of their overall strategy, the company has selected Crypto.com and Anchorage Digital to provide custody services for its Bitcoin holdings. Following the announcement of the buyback, DJT shares rose over 3.8% to $18.50 in early trading on Monday.