A company co-founded by two former “Apprentice” contestants, Andrew Litinsky and Wesley Moss, has sold a majority stake in former President Donald Trump’s social media company, according to a filing with the Securities and Exchange Commission on Thursday.
Investment firm United Atlantic Ventures LLC sold all but 100 shares of Truth Social’s parent company, Trump Media & Technology Group, after a ban on insider sales was lifted last week.
According to CNN, the company owned about 7.5 million shares of Trump Media as of March.
Trump Media and UAV have so far not commented on news of Thursday’s filing.
Litinsky and Moss, who appeared on Season 2 of “The Apprentice,” the show that made Trump a celebrity, co-founded Trump Media with the former president in 2021.
The two have since had a falling out with President Trump, and have filed a series of lawsuits over their shares in the company over the past year.
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Litinsky and Moss filed the lawsuit in February, accusing Trump Media of attempting to dilute their stake in the company ahead of its merger with publicly traded shell company Digital World Acquisition Corp.
Trump later took legal action against the pair, claiming they would lose their stock due to their mismanagement of the company.
President Trump, who owns about 60% of the company’s stock, has said he has no plans to sell his stake.
It’s not yet known how much UAV got from the sale of Trump Media stock, but the New York Times estimates their stake is worth about $100 million based on current stock prices.
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