Trump could cash out his DJT stock within weeks. Here's what happens if he sells

Former President Donald Trump will soon be free to start unloading his multibillion-dollar stake in his fledgling social media startup, Trump Media.

But the potential payday — Trump's stake comprises more than half of his on-paper net worth, per Forbes — carries risks for both the Republican presidential nominee and his company.

Trump holds 114,750,000 shares, or nearly 59%, of Trump Media, which owns the social media platform Truth Social. As of Thursday, his stake was worth slightly more than $2.6 billion.

But Trump, along with others who received stock in the company before it went public, are barred from selling any of their shares for approximately 180 days under a "lock-up agreement."

Those provisions are a common feature of IPOs, meant to prevent company insiders from immediately cashing in their shares as soon as a company goes public. This helps keep the stock stable and marketable to investors in its first few months on the market.

Trump Media made its debut on the Nasdaq under the ticker DJT in late March, following a lengthy merger process with a special purpose acquisition company.

The lock-up restrictions, which began after the businesses combined, are set to end on Sept. 25.

They could also be lifted earlier, if the stock price stays at or above $12 per share for any 20 trading days within the 30-trading-day period that starts Friday, according to the company's regulatory filings.

If shares of DJT remain above this price point — and they seem likely to — the lock-up could expire as soon as Sept. 20.

What happens after that is anyone's guess.

Trump has not said what he plans to do with his shares once the lock-up lifts, and a spokeswoman for Trump Media did not reply to questions about it from CNBC.

A spokesman for