U.S. President Donald Trump speaks to the media upon arrival at Joint Base Andrews following a visit to North Carolina, in Maryland, U.S., June 10, 2025.
Evelyn Hockstein | Reuters
Trump Media & Technology Group, the parent company of Truth Social, Truth+, and the fintech platform Truth.Fi, said Monday its board has approved a stock buyback of up to $400 million.
Trump Media stock rose about 3% on the news premarket.
The Florida-based company, which trades under the ticker DJT on both Nasdaq and NYSE Texas, said the buyback could include both common stock and warrants, executed through open market transactions. All repurchased shares would be retired.
“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 in a release announcing the move.
President Donald Trump, who indirectly owns more than 114 million shares of the company through a revocable trust, remains the largest shareholder.
The announcement follows Trump Media’s $2.5 billion raise last month from institutional investors — one of the largest bitcoin treasury plays by a public company. The company said it would use those funds, which include $1.5 billion in equity and $1 billion in convertible notes, to buy bitcoin, with custody provided by Anchorage Digital and Crypto.com.
Calling bitcoin a “crown jewel,” Nunes said the move was designed to defend the company against what he described as “discrimination by financial institutions” against conservative businesses. The funds will also support the launch of Trump-branded exchange-traded funds and other crypto products later this year, pending regulatory approval.
Trump Media said the buyback will be funded independently and will not affect the capital already earmarked for its bitcoin treasury initiative.
In February, Trump Media reported a $400.9 million net loss for the full year on just $3.6 million in annual revenue. The company cited legal fees and a revised advertising revenue-sharing agreement as contributing factors.
Despite the losses, Trump Media said it ended the year with $776.8 million in cash and short-term investments.
The company, which went public via special purpose acquisition company, or SPAC, last year, now trades with a market capitalization of around $4.9 billion.
The stock nearly doubled in 2024 as Trump won the U.S. presidential election in November. As of Friday’s close, the stock was down nearly 48% this year.
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