Attorney General Pam Bondi Sold Millions in Trump Media Shares Before Tariffs Announcement

Strategic Insights -

U.S. Attorney General Pam Bondi sold between $1 million and $5 million in shares of Trump Media on April 2, just as President Donald Trump unveiled widespread tariffs on allies and foes alike. Trump Media's stock price dropped 13 percent in the days following the announcement before rising again. The company operates the Truth Social social media platform, which was created after Trump was banned from Twitter and Facebook following the January 6, 2021, attack on the U.S. Capitol.

Key Takeaways:

  • Attorney General Pam Bondi sold between $1 million and $5 million in shares of Trump Media on April 2.
  • The sale occurred on the same day President Donald Trump unveiled widespread tariffs on allies and foes alike.
  • Trump Media's stock price dropped 13 percent in the days following the announcement before rising again.
  • The company operates the Truth Social social media platform, which was created after Trump was banned from Twitter and Facebook.
  • The disclosure forms state that a wide range of stocks were sold rather than a specific amount, and the documents don't say exactly when the stocks were sold or at what price.
  • On April 2, Trump Media's stock price was $18.76 at the close of the day.
  • The following day, after the press conference, it opened at $17.92.
  • Bondi sold between $250,000 and $500,000 of warrants in Trump Media, which give the owner the right to buy the shares.
  • The fact that Bondi owned Trump Media shares has been disclosed previously, as she was a consultant for Digital World Acquisition Corp. before becoming attorney general.
  • Bondi vowed to sell her stake in Trump Media within 90 days of her confirmation, as per her ethics agreement.

Statistics:

  • $1 million - $5 million: The amount of bond sold by Attorney General Pam Bondi in Trump Media on April 2.
  • 13%: The drop in Trump Media's stock price in the days following the announcement of the tariffs.
  • $18.76: The stock price of Trump Media at the close of day on April 2.
  • $17.92: The opening stock price of Trump Media on April 3, after the press conference.
  • $250,000 - $500,000: The amount of warrants sold by Bondi in Trump Media.
  • $3.6 million: The annual revenue of Trump Media's Technology Group in 2022, which dipped 12 percent from the previous year.
  • $400.9 million: The reported loss of the Trump Media and Technology Group in 2022.

Sources:

  • Government ethics transaction report.
  • ProPublica.
  • CBS News.
  • The Independent.