Not only will he own about 60 percent of Trump Media’s stock, he also owns a separate class of shares that will give him at least 55 percent voting power over all shareholder measures.
The company’s seven-member board includes his son Donald Jr. and the company’s chief executive officer, Devin Nunes, a former Republican congressman from California. Also on the board are three members who had served under his administration: Kash Patel, who was the chief of staff to Mr. Trump’s acting secretary of defense; the former US trade representative Robert Lighthizer; and Linda McMahon, a former administrator of the Small Business Administration.
Ms. McMahon is a chairwoman of a big fund-raiser for Mr. Trump scheduled on April 6 in Palm Beach, Fla., according to a copy of the invitation.
The other two board members of the company, which is based in Sarasota, Fla., are W. Kyle Green, a Louisiana lawyer; and Eric Swider, chief executive of Digital World, who had led the special purpose acquisition company through the merger process with Trump Media for the past year.
The deal gives Trump Media immediate access to the more than $300 million that Digital World had raised from investors in a 2021 initial public offering and subsequent private financing deal. The influx of cash will enable Trump Media, which had been running on fumes, to continue to fund its operations, especially Truth Social.
