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Trump Media Stock Plummets, Leading to Billion-Dollar Paper Loss for Donald Trump

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4 months ago

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Shares of Trump Media and Technology Group Corp. plummeted by 21% during Monday’s trading session, resulting in approximately $1 billion in paper losses for former President Donald Trump.

Former President Trump holds around 78.8 million shares of the company, which is the parent company of Truth Social (DJT). The value of Trump’s stake in Trump Media decreased from about $4.9 billion last Thursday to roughly $3.8 billion after Monday’s market decline.

The decline in Trump’s net worth attributed to the drop in Trump Media’s shares is considered a paper loss since he retains ownership of his shares in the company. Trump holds a majority stake in Trump Media, whose total market capitalization dropped by $1.8 billion to approximately $6.7 billion on Monday, according to data from Dow Jones Market Data.

Since the completion of the SPAC merger last week, Trump Media’s stock has experienced volatile trading activity. The share price faced pressure on Monday following the disclosure of new financial details in a filing with the Securities and Exchange Commission. In the filing, Trump Media reported a loss of $58.2 million in the previous year, compared to $50.5 million in the year before. Annual revenue for the company stood at $4.1 million, up from $1.5 million.

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Rachel Adams

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