The co-founders of Trump Media & Tech Group, the company behind Donald Trump’s Truth Social platform, have reportedly sold nearly all their stock in the firm, amounting to around $100 million. United Atlantic Ventures, led by Andrew Litinsky and Wesley Moss—both former contestants on “The Apprentice”—held a 5.5 percent stake in Trump Media, traded under the ticker DJT.

The sale occurred after a lockup agreement expired on September 19, which previously restricted large investors, including Trump himself, from selling shares. Despite the mass sale, Trump has stated that he will not sell his shares, asserting that he does not need the money and values Truth Social as a platform for sharing his message.

Litinsky and Moss initially pitched the idea of launching Truth Social to Trump after he was banned from Twitter (now X) following the January 6 Capitol riot, later facilitating a merger that took Trump Media public in March. However, tensions between the co-founders and the company have reportedly escalated, with Trump Media’s attorneys alleging mismanagement on the part of Litinsky and Moss.

In a recent legal victory for United Atlantic Ventures, a federal judge ruled in their favor regarding a lawsuit against a securities transfer agent, allowing them to sell their minority stake in Trump Media. The stock’s price has experienced significant volatility; it peaked at $79.38 on its first trading day but closed recently at $13.98 per share. Trump’s personal stake, which was valued at approximately $6.2 billion in May, has since plummeted to around $1.6 billion following the stock’s decline, which further dropped after his debate with Kamala Harris.