Summarize and humanize this content to 2000 words in 6 paragraphs in English Trump truth social Donald Trump is preparing to sell his $2.3bn (£1.7bn) stake in the company that owns his social media platform Truth Social. New filings reveal the US president has kick-started plans to offload his shares in Trump Media & Technology Group (TMTG), which saw its share price fall by 8pc in response to the news. TMTG was first launched by Mr Trump in 2021 after he was banned from Twitter in the wake of the Capitol riots. At the time, he said he was setting up the platform to “stand up to the tyranny of big tech”. Paperwork lodged with the US Securities and Exchange Commission reveals Mr Trump is planning to sell all of his 114m shares in TMTG through a series of public sales. It comes after the company’s share price has fallen by 63pc over the past 12 months, with investors selling off in response to weak financials and a slump in user numbers. Mr Trump currently owns a 52pc stake in TMTG, which is worth around $2.3bn. This is held in a trust controlled by his son Donald Trump Jr. Following its launch in September 2021, shares in the business were listed on the Nasdaq stock exchange under the ticker DJT, Mr Trump’s initials. TMTG also recently became the first company to list on the New York Stock Exchange’s Texas platform. In September last year, TMTG’s shares increased sharply after Mr Trump told reporters he had “absolutely no intention of selling” his stake in the social media business. He said: “I love it. I use it as a method of getting out my word.” Shares also surged by more than 30pc in the wake of Mr Trump’s presidential victory last November, as individual investors bought shares as a sign of support. Since returning to the White House, Mr Trump has repeatedly used his platform to announce new government policies, including those relating to his global trade war. The latest filings were submitted just hours before Mr Trump’s “liberation day” announcement, when he is expected to confirm a swathe of global import tariffs. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
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