Donald Trump transfers £3 billion of Trump Media shares to trust

Donald Trump has transferred all of his nearly 115 million shares in Trump Media into a trust (Alex Brandon/AP)

Shares of Trump Media and Technology Group slid in midday trading on Friday after US President-elect Donald Trump transferred all his shares into a revocable trust, according to a regulatory filing.

Mr Trump transferred all of his nearly 115 million shares — worth around four billion dollars (£3.2 billion) on paper — in the parent company of social networking site Truth Social as a “bona fide gift” to the Donald J Trump Revocable Trust, the Securities and Exchange Commission filing on on Thursday said.