Trump is transferring all of his DJT shares to his revocable trust, SEC filings show

elected president donald trump this week he transferred his entire holding from shares in Trump Media to a revocable trust of which he is the sole beneficiary, settlor presentations revealed Thursday evening.

Trump received no money for the gift of his 114,750,000 Trump Media shares stock to the Donald J. Trump Revocable Trust on Tuesday, according to a filing in the Stock Exchange and Securities Commission.

Because Trump is the beneficiary of the trust, he now “indirectly” owns the Trump Media stock he transferred, the SEC filing noted.

Trump Media, which trades under the ticker DJT, closed Thursday at $35.41 per share, bringing the value of shares transferred to more than $4 billion.

Trump, who is due to be sworn in as president for a second non-consecutive term on January 20, had been the largest single shareholder in the social media company, which operates the Truth Social app. His share represented almost 53% of the company’s outstanding shares.

CNBC has sought comment on the transfer from spokespeople for Trump and Trump Media.

The SEC filing Thursday said that after Trump transferred his shares, he “directly owned 0 shares of Trump Media & Technology Group Corp. and indirectly owned 114,750,000 shares of Trump Media & Technology Group Corp.”

“The reporting person (Trump) is the settlor and sole beneficiary of the Trust,” the filing said.

The type of transfer Trump used this week is not new for the president-elect, although the dollar value of his stock exceeds the value of any assets he previously transferred.

Before his first inauguration as president in 2017, Trump made similar transfers to the same revocable trust.

At the time, Trump transferred several real estate holdings, assets and liabilities to the trust, according to reports compiled by Mazarswhich was his accounting firm at the time.

He also made transfers to the board of trustees in February 2016, when he was campaigning for president.

Trump has not held an executive position at Trump Media, whose stock began trading publicly earlier this year after the then-private company merged with a public company, Digital World Acquisition Corp.

Trump has named two Trump Media board members to high-level positions in his administration.

Trump tapped former wrestling mogul Linda McMahon to become education secretary and Kash Patel, a former Trump White House official, to become the next FBI director.

Trump also recently nominated Trump Media CEO Devin Nunes to chair the President’s Intelligence Advisory Council.

This position does not require Senate confirmation.

Trump has said Nunes, who previously represented a California district in the House of Representatives, will remain CEO of Trump Media.

– CNBC Christina Wilkie contributed to this report.

This is breaking news. Update for updates.