(CNN) 鈥� A major Trump Media shareholder and former contestant on 鈥淭he Apprentice鈥� has unloaded almost his entire stake in former President Donald Trump鈥檚 social media company. Although the stock price has been volatile, that stake is worth roughly $100 million at current prices.
United Atlantic Ventures, managed by Trump Media & Technology Group co-founder Andy Litinsky, now owns just 100 shares in the company, according to regulatory filings released on Thursday. That is down from just over 7.5 million shares that the firm owned as of late March.
An attorney for United Atlantic Ventures did not immediately respond to a request for comment.
The share sale is not shocking given that Litinsky and Trump Media have been over the shares.
Litinsky was a contestant on Trump鈥檚 NBC show 鈥淭he Apprentice,鈥� which helped burnish Trump鈥檚 persona as a successful businessman.
Insiders were prohibited from selling shares in Truth Social owner Trump Media by lock-up restrictions, which .
The big question had been whether Trump himself would sell some or all of his dominant stake in the company, but the former president declared earlier this month he will not be selling.
Trump owns 114.75 million shares in Trump Media, according to the most recent filings. That stake was worth $6.2 billion as recently as mid-May. However, Trump Media鈥檚 share price has crashed in recent months, sinking earlier this week to record lows.
Trump鈥檚 stake is worth about $1.6 billion based on Thursday鈥檚 closing price of $13.98. In after-hours trading, the stock dipped about 1% following news of the share sale.
The-CNN-Wire
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