Tiny Red HandsOpen ledger

America First Audit

About this audit and its evidence

Trump sold “America First.” This record traces how public money, power, and risk moved toward family businesses, donors, favored firms, and foreign governments: and what workers, ranchers, retirees, patients, veterans, and small investors were left to absorb.

Reversal ledger

Oldest to latest by event date. Each stop is one dated case.

Trump Media Earnout Shares

unresolved
Promised
The merger agreement promised former Trump Media owners additional shares if specified market-price conditions were met.Open cited record · 1 source
The record
Trump Media determined the conditions were satisfied and issued the earnout shares to Trump.Open cited record · 1 sourceTrump's disclosed beneficial ownership increased through the earnout issuance.Open cited record · 1 source
Who gained
  • Donald Trump
Who paid
  • Trump Media
Audit finding
unresolved

The merger's price-trigger mechanism increased Trump's controlling stake without a new cash purchase; the shares' market value remained unrealized and volatile.

Causal strength: documented mechanism