New York, NY – A major shareholder of Trump Media, a social media company founded by former President Donald Trump, has recently sold off almost his entire stake in the company. The shareholder, a former contestant on Trump’s reality TV show “The Apprentice,” is reported to have sold off a stake worth approximately $100 million amidst the company’s volatile stock price.

The shareholder, managing United Atlantic Ventures, now only holds 100 shares in Trump Media, a significant decrease from the over 7.5 million shares that the firm owned just a few months ago. This sudden sale comes amid an ongoing legal battle between the shareholder and Trump Media concerning the ownership of the shares.

There has been speculation surrounding whether Trump himself would sell off his substantial stake in the company, with recent filings indicating that he owns 114.75 million shares in Trump Media. While his stake was worth $6.2 billion as of mid-May, the company’s share price has significantly dropped in recent months, hitting record lows earlier this week.

Despite the declining share price, Trump announced earlier this month that he has no intention of selling off any of his shares in the company. This decision comes as the company’s stock price continues to fluctuate, with shares trading at $13.98 at the close of business on Thursday.

Overall, the shareholder’s decision to sell off a significant portion of his stake in Trump Media highlights the challenges facing the company as it navigates legal disputes and market fluctuations. With uncertainty surrounding the future of the company, investors and analysts will be closely monitoring any developments that may impact Trump Media’s financial stability and overall trajectory in the social media industry.