Trump Can Only Watch as His Media Stake Takes a $4 Billion Dive
- Startup’s value has slumped nearly $6 billion in recent months
- Lockup on insider share sales could lift as soon as next week
The Truth Social website
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
The paper fortune that former President Donald Trump amassed by taking a nascent media startup public is shriveling, and a race to the exits that begins as soon as Sept. 19 could shrink it even more.
Trump Media & Technology Group Corp., which owns the X-lookalike social media platform Truth Social, has shed nearly $6 billion in value over the past four months. Meanwhile, its largest shareholders have been unable to sell because of a lockup agreement from when the firm went public through a special-purpose acquisition company merger in March.