Trump Defies Expectations, Vows to Retain Stake in Truth Social

In a surprising move, former President Donald Trump has declared that he has "absolutely no intention" of selling his shares in the Trump Media & Technology Group (DJT), the parent company of his social media platform, Truth Social. This announcement comes amid speculation that he might offload his stake to capitalize on the platform's recent surge in popularity.

A Steadfast Commitment to Truth Social

Unwavering Loyalty to His Platform

Addressing reporters near Los Angeles on Friday, Trump firmly stated, "I have absolutely no intention of selling. I love it." This resolute stance contradicts the expectations of many who anticipated that the former president might seize the opportunity to cash in on his investment, particularly as the stock has experienced significant volatility in recent weeks.Trump's commitment to Truth Social appears to be driven by more than just financial considerations. He emphasized that his decision to create the platform was not motivated by money, but rather by a desire to have a "strong voice" and provide a platform for his message. "I didn't do it for the money; I did it because I really wanted to have a strong voice and it's a great voice for me," he said.

Rejecting Elon Musk's Overtures

Trump also revealed that Tesla CEO Elon Musk, who recently acquired Twitter and rebranded it as "X," has expressed interest in having the former president join the platform. However, Trump has firmly rejected Musk's overtures, stating, "Elon would love me to come over to X, but I didn't do it for the money; I did it because I really wanted to have a strong voice and it's a great voice for me."This decision to remain loyal to Truth Social is a significant one, as Trump's presence on the platform has been a major driver of its growth and engagement. With over 90 million followers on the former Twitter platform, Trump's continued commitment to Truth Social is likely to bolster the platform's user base and solidify its position as a prominent voice in the social media landscape.

Navigating the Lockup Period

Trump's announcement comes at a critical juncture for the company, as the lockup period on his shares is set to expire next week on September 19th. This period was designed to protect the company's interests and ensure stability before its founders could cash out.While Trump could potentially begin selling his shares and gain access to a multibillion-dollar windfall, he acknowledged that doing so "wouldn't be the same" and that he can "understand that." This suggests that the former president is cognizant of the potential impact his actions could have on the company and its stakeholders.

Weathering Stock Volatility

The news of Trump's commitment to Truth Social has already had a tangible impact on the company's stock price. Shares in DJT jumped from around $16.27 per share to a high of $20.86 within minutes of his comments, ultimately closing the day at $17.97, a gain of 11.97%.However, the stock remains far below its 52-week high of $79.38, which it reached during the height of Trump's GOP primary campaign. The stock has experienced significant volatility in recent weeks, with the most recent dip occurring after Tuesday's debate, which saw bets shift towards Democratic presidential nominee Kamala Harris.Despite these challenges, Trump's unwavering support for Truth Social and his refusal to sell his shares suggest that he remains committed to the platform's long-term success. As the company navigates the evolving social media landscape, Trump's continued involvement is likely to be a crucial factor in shaping its future direction.