Eric Swider profits from massive stock sell-off at Trump Media
- Eric Swider, board member at Trump Media, has sold approximately 90% of his shares, making around $4.4 million.
- Swider became CEO of Digital World Acquisition Corp in March 2023, prior to the merger with Trump Media.
- The reasons behind Swider's sell-off are unclear, raising questions about strategic financial decisions within the company.
In the United States, Eric Swider, a board member of Trump Media & Technology Group, has significantly reduced his stock holdings in the company by selling around 90% of his shares. These transactions took place from November 2023, accumulating to approximately $4.4 million in profits before taxes as reported by SEC filings. Swider had received 153,000 shares upon the completion of the merger between Trump Media and Digital World Acquisition Corp. in March 2024 and was awarded an additional 26,000 shares in January 2025 through an incentive program. Since March 2025, he executed four sales of his shares, leaving him with only 17,500 shares by mid-June 2025. The reasons behind Swider's substantial sell-off remain unclear, as neither he nor Trump Media has provided comments on the matter. Notably, insider selling of this magnitude has not been observed among other Trump Media executives according to SEC reports. Swider's journey with Digital World, which began in 2021 when he joined the board, led him to become CEO of the SPAC involved in the merger; he took on the CEO role in March 2023. Following the merger's finalization in March 2024, Devin Nunes took over as CEO, while Swider continued his role in the board until his term expires in 2027. Since the merger, Trump Media has faced various challenges, including legal issues resulting from insider trading allegations and lawsuits from co-founders regarding stake dilution. Amid these complications, the company warned investors about potential inaccuracies in financial filings linked to inadequate internal controls. This tumultuous backdrop raises questions regarding the financial stability and future of Trump Media, especially given their recent efforts to reshape finances, which included a $2.3 billion raise for bitcoin purchases and plans to buy back shares. Collectively, these developments underscore the complexities surrounding Trump Media's evolving financial landscape and Swider's strategic decisions regarding his stock, reflecting caution or a strategic move amidst ongoing uncertainties.