Trump’s Net Worth Drops $1 Billion as Social Media Firm Sinks
- Startup’s value falls below $7 billion after stock tumbles
- Annual revenue dwarfed by Reddit despite similar market value
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Donald Trump’s net worth tumbled by $1 billion along with the shares of his social media business after it disclosed a more than $58 million loss in 2023, as revenue for the former president’s Truth Social platform trickled in.
Trump Media & Technology Group Corp.’s stock fell 21% Monday to $48.66 per share, below the $49.95 level where the blank-check vehicle it merged with was trading a week ago. Trump owns 57% of the company, according to the filings with the US Securities and Exchange Commission, with his stake now worth $3.76 billion on paper.