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☆ Trump Media payday: What Truth Social executives got paid in stock and compensation
▼ + stars: | 2024-04-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +12 min

Those thresholds for the share price are well below where Trump Media stock was trading on Monday, when it closed at $37.17, down more than 8%. The filing disclosed that Trump Media awarded company stock to Nunes, chief financial officer Phillip Juhan, and chief operating officer Andrew Northwall. The three top executives, like Trump himself, are currently barred from selling any of their common stock in Trump Media for the next six months. CNBC asked a spokeswoman for Trump Media why promissory notes were used to grant stock to the executives. Legal battlesBesides Trump, the biggest shareholders in Trump Media are two corporate entities.

Persons: Dado Ruvic, Donald Trump, Devin Nunes, Trump, Kevin Murphy, Murphy, Nunes, Phillip Juhan, Andrew Northwall, Juhan, Northwall, DWAC, we've, Tom Williams, Kash Patel, Patel, Dan Scavino, Scavino, Department of Defense Kash Patel, Justin Sullivan, Sandro De Moraes, Vladimir Novachki, Scott Glabe, Novachki, Glabe, De Moraes, Eric Swider, beneficially, Renatus, Swider, Andy Litinsky, Wes Moss, Moss, Patrick Orlando, Mike Pont Organizations: Trump Media, Trump . Trump Media, Nasdaq, Corp, Trump, University of Southern, Securities and Exchange Commission, DWAC, SEC, CNBC, Partners, Northwall, Juhan, Trump Media's, U.S, Capitol, CQ, Inc, Getty, Equity, Messrs, Republican, Hudson Digital, Trump White House, Staff, Department of Defense, Digital, Renatus, ARC Global, United Atlantic Ventures, Twitter, Facebook, NBC, FilmMagic Locations: Juhan, California, Minden, Minden , Nevada, Orlando, New York City

☆ Trump to be deposed in dispute with media company co-founders
▼ + stars: | 2024-04-04 | by ( ) www.cnbc.com time to read: +2 min

Republican presidential candidate Donald Trump is scheduled to be deposed later this month by lawyers for co-founders of his social media company as part of a dispute over ownership in Trump Media & Technology Group which went public last week. They said in 2021 they were pledged 8.6% of pre-merger Trump Media stock for helping to launch the company. Trump Media sued Litinsky and Moss in Florida on March 24, and is seeking to strip them of their stock, which it said they failed to earn due to mismanagement. Trump owned 90% of the social media company prior to its merger last month with a blank check firm that took the company public. In midday trade on Thursday, Trump Media was down 4.2% at $46.70, valuing the company at more than $6 billion.

Persons: Donald Trump, Christopher Clark, Andy Litinsky, Wes Moss, Litinsky, Sam Glasscock, Trump Organizations: Trump Media & Technology Group, Delaware's, Chancery, Trump Media, Trump, United Atlantic Ventures Locations: New York, Moss, Florida, Delaware, Washington, Georgia

☆ Trump Media cofounders were limited to coach flights and lodging under $150 a night while establishing the former president's media empire
▼ + stars: | 2024-04-04 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

According to their contract, Trump Media & Technology Group's cofounders, Andrew Litinsky and Wes Moss, were limited to cheap flights and hotels as they were entrusted to take Trump's media empire public. The expenses outlined in the contract are a far cry from the typical lavishness executives, let alone social media cofounders, are afforded. As Business Insider's senior correspondent Emily Stewart noted, Trump Media makes close to nothing. The company's financial statements reveal that Trump Media made $4.1 million last year and lost $58 million. A spokesperson for Trump Media declined to comment.

Persons: —, Donald Trump's, cofounders, Andrew Litinsky, Wes Moss, Moss, Litinsky, Moss weren't, Emily Stewart Organizations: Service, Trump Media & Technology, Business, United Atlantic Ventures, Trump, Trump Media, Litinsky Locations: Moss, Litinsky

☆ Trump Media is suing its cofounders, alleging they failed 'spectacularly' and did 'significant damage' to the business
▼ + stars: | 2024-04-03 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Trump's media company is suing its cofounders, alleging they failed the business before its SPAC deal. AdvertisementTrump Media is suing its cofounders, alleging they failed the company and did "significant damage" to its business, according to documents filed in a Florida civil court. Moss and Litinsky had the potential to "profit handsomely" if Trump Media completed its merger deal. The filing says: "Moss and Litinsky failed spectacularly at every turn. Trump Media did not immediately respond to a request for comment.

Persons: Wesley Moss, Andrew Litinsky, Moss, —, Trump, Patrick Orlando, Litinsky Organizations: TMTG, Service, Trump Media, Corp, United Atlantic Ventures, Orlando's, Trump, DWAC, Company Locations: Florida

☆ Truth Social owner Trump Media sues two of its own co-founders, seeking to wipe out their shares
▼ + stars: | 2024-04-02 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

CNN —Trump Media & Technology Group, the Truth Social owner controlled by former President Donald Trump, recently filed a lawsuit against two of its co-founders seeking to eliminate their stakes in the multi-billion dollar company. The lawsuit marks the latest twist in the legal saga surrounding the quest to bring Trump Media and Truth Social public — a deal that has spiked Trump’s net worth and created a frenzy on Wall Street. Trump Media filed a lawsuit on March 24 in Florida state court against Andy Litinsky and Wes Moss, two co-founders of Trump Media. The lawsuit states that Litinsky and Moss were to receive 8.6 million shares in the new company, through United Atlantic Ventures. Trump owns 78.8 million shares in Trump Media, which went public last week.

Persons: CNN —, Donald Trump, Andy Litinsky, Wes Moss, “ Moss, Litinsky, Moss, Maruf Organizations: CNN, CNN — Trump Media & Technology Group, Trump Media, Truth, United Atlantic Ventures, Bloomberg News, Trump Locations: Florida, Moss, Delaware

☆ Trump Media sues its co-founders, accuses them of 'severe mismanagement'
▼ + stars: | 2024-04-02 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

The media company that Donald Trump recently took public is suing its co-founders, accusing them of failing "spectacularly" to get the company off the ground and then trying to "thwart the deal." In February, Moss and Litinsky sued Trump Media in Delaware Chancery Court over their stake in the company. They made "wasteful decisions" that caused "significant damage" to Trump Media and a decline in DWAC's stock price, the company claims. Trump Media calls the claim that UAV is owed stock "baseless," and says the services agreement Trump signed with UAV in 2021 is no longer valid. Lawyers for Trump Media did not immediately respond to CNBC's request for comment on the lawsuit.

Persons: Donald Trump, Wesley Moss, Andrew Litinsky, Trump, Moss, Litinsky, Patrick Orlando, Eric Trump Organizations: Trump Media & Technology Group, United Atlantic Ventures, Trump, Trump Media, Corp, Nasdaq, Orlando's, Securities and Exchange Commission, Bloomberg, Lawyers Locations: Sarasota County , Florida, Delaware Chancery, Florida

☆ Former 'apprentices' and Trump Media cofounders file lawsuit claiming company execs tried to dilute their stake ahead of a potential merger
▼ + stars: | 2024-03-02 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Trump Media & Technology Group cofounders accused the company of conspiring to dilute their shares. The lawsuit could complicate an upcoming shareholder vote on a merger that would take the company public. The bid would see Trump's company, the parent company of his social media network Truth Social, merge with blank-check company Digital World Acquisition. The suit also claims that the Trump Media board planned to give new shares to "Trump and/or his associates and children," per The Post. The two-year attempted merger between Trump Media and Digital World Acquisition Corp has faced ongoing delays, partly due to SEC investigations into potential securities violations.

Persons: Trump Media & Technology Group cofounders, Andy Litinsky, Wes Moss, —, Donald Trump's, Trump, Moss, Melania Organizations: Trump Media & Technology Group, Service, United Atlantic Ventures, Washington Post, Trump, Business, Twitter, Securities and Exchange, Digital, Trump Media, UAV, SEC

☆ Trump Media sued by co-founders ahead of DWAC merger, potential setback for lucrative deal
▼ + stars: | 2024-02-29 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

Donald Trump (R) and producer Andy Litinsky (L) attend the Comedy Central Roast Of Donald Trump at the Hammerstein Ballroom on March 9, 2011 in New York City. The partnership, United Atlantic Ventures alleges that Trump Media & Technology Group engaged in "wrongful 11th hour ... maneuvering" to dilute UAV''s minority stake in the media company, a court filing says. Donald Trump attends the 'Celebrity Apprentice' Red Carpet Event at Trump Tower on January 5, 2015, in New York City. "They actually went out and did the work, they created Truth Social, and now the beneficiary of that, Donald Trump, doesn't want to pay." CNBC has requested comment from spokesmen for Trump, TMTG and DWAC about the lawsuit, which was first reported by The Washington Post.

Persons: Donald Trump, Andy Litinsky, Moss, Wes Moss, Trump, Jean Carroll, Christopher Clark, Clark, Donald J, TMTG, UAV's, TMTG's Organizations: Trump Media, Twitter, Facebook, United Atlantic Ventures, Trump Media & Technology Group, Trump Tower, Trump, Republican, TMTG, CNBC, The Washington Post, Securities and Exchange Commission, Department of Justice, SEC Locations: New York City, TMTG, Delaware, New York, partnership's Delaware

☆ While building Truth Social, Trump spoke with rivals about competing partnerships
▼ + stars: | 2022-11-07 | by ( Jack Stebbins | ) www.cnbc.com time to read: +1 min

The TRUTH Social website is seen on a mobile device with an image of former US president Donald Trump in the background in this photo illustration in Warsaw, Poland on 23 February, 2022. Months after Donald Trump began building his social media platform, Truth Social, he considered jumping ship and backing a competitor, according to an insider account. Litinsky and Moss officially partnered with Trump through their company, United Atlantic Ventures, in February 2021 to build Trump Media and Technology Group, the company behind Truth Social. Months after the initiation of the Trump Media and Truth Social project, Trump met with Gettr. He was offered $5 million a year for his participation, and, according to Wilkerson's daily log, the Truth Social co-founders wondered if Trump would strike a "side deal."

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