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By Theo Burman
Live News Reporter
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Linda McMahon, longtime wrestling executive and secretary of education nominee, was awarded nearly $195,000 in Trump Media & Technology Group (TMTG) shares this week, according to a Securities and Exchange Commission (SEC) filing.
On Tuesday, President Donald Trump's pick to run the Department of Education received more than 25,000 restricted stock units in TMTG, the parent company of Truth Social, for her work on its board of directors.
Newsweek contacted McMahon for comment on this story through the America First Policy Institute via email.
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Why It Matters
TMTG, of which the president owns a majority stake, is closely tied to Trump's political brand, and any government official with stock in the company could be seen as benefiting from Trump's political power.
If McMahon were to hold a Cabinet position while also having a significant financial stake in TMTG, it could create ethical concerns about personal financial interests influencing policy decisions.
What To Know
An SEC filing made on Thursday revealed that McMahon received 25,946 restricted stock units (RSUs) in TMTG, which trades under the ticker symbol DJT.
RSUs are not tradable immediately, with 75 percent of McMahon's securities being vested in installments over an extended period of time, provided McMahon remains on the TMTG board, the SEC filing said. McMahon has immediate access to 25 percent of the RSUs, which is approximately 6,487 shares.
The ever-volatile TMTG stock—which sees its price apparently fluctuate depending on Trump's personal successes or failures—closed at $30.04 per share on January 28. This means that McMahon's shares were worth $194,866.48.
At market close on Thursday, the share price was $31.60.
McMahon was first listed on the TMTG board of directors as an independent director in March 2024, when the company went public. Kash Patel, Trump's pick to lead the FBI, is also on the board.
Patel also received the same number of RSUs on January 28, along with other members on the board of directors.
Trump himself owns 57.3 percent of TMTG's shares, according to the Associated Press, and with the company currently valued at $6.85 billion, his stake is worth just under $4 billion.
Trump has taken steps to distance himself from direct management of TMTG by transferring his shares to a revocable trust, but he has not fully divested his ownership stake in the company.
What People Are Saying
In his announcement of McMahon's Cabinet nomination, Trump said the former WWE CEO would use her "decades of leadership experience, and deep understanding of both education and business, to empower the next generation of American students and workers, and make America number one in education in the world.
"Linda will fight tirelessly to expand 'choice' to every state in America, and empower parents to make the best education decisions for their families."
What Happens Next
McMahon's appearance before the Senate Education Committee is one of the three Senate approval processes not yet scheduled, along with secretary of labor pick Lori Chavez-DeRemer and U.S. trade representative nominee Jamieson Greer.
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