The report said that Eric Trump owned 73 million shares in the company
MOSCOW, September 4. /TASS/. US President Donald Trump’s son Eric became a billionaire thanks to a surge in the stock price of American Bitcoin cryptocurrency mining company, Forbes reported.
Forbes said that Eric Trump owns 73 million shares in the company, and the price jump drove the value of his stake on Wednesday morning to $950 million at some point.
The growth slowed down by the end of trading on September 3 to $8.04 per share, valuing the younger Trump’s stake at $590 million. Nevertheless, that’s still more than the value of the private real estate owned by any member of the presidential family.
Earlier, The Wall Street Journal said that US President Donald Trump’s eldest sons are creating a bitcoin mining company called American Bitcoin. Donald Trump Jr. and Eric Trump, together with their partners at American Data Centers, have entered into a merger agreement with the Hut 8 technology company, which will transfer 61,000 mining machines to American Bitcoin. The Trump family will receive a 20% stake in American Bitcoin, while Hut 8 will retain 80% and manage operations through its 11 data centers in the United States.
