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Fortune

Paolo Confino

Top Trump Media investor cashes out almost all his shares, filings show

Trump Media Patrick Orlando Donald Trump ARC Andrew Litinsky Wes Moss SEC

President-elect Donald Trump standing at a lectern giving a speech (Credit: Allison Robbert/AFP/Bloomberg)

A major Trump Media investor sold an overwhelming majority of his shares, according to SEC documents filed on Thursday.

Patrick Orlando, the former CEO of the special purpose acquisition company that took Trump Media public, and his investment company ARC Global Investments now own less than 0.01% of the company after having a 5.4% stake in the company earlier.

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