On Friday, Trump Media & Technology experienced a roughly 6% drop in share prices after President-elect Donald Trump shifted his ownership in the social media company into a revocable trust.

This decision follows Trump’s statement from November, where he expressed that he did not plan to sell his shares in the firm, which operates the Truth Social platform.

According to securities filings, Trump transferred 114.75 million shares, which constitutes 53% of Trump Media & Technology Group’s total outstanding stock, into the trust where he remains the sole beneficiary.

Based on the last closing price of $35.41 per share, Trump’s stake in the company was estimated to exceed $4 billion.