Trump’s Net Worth Falls by $1 Billion as His Media Company’s Stock Plunges

Trump Media’s inexplicable ascent came crashing down on Monday, as shares of the social media firm plunged more than 21 percent, knocking roughly $1billion off former President Donald Trump’s net worth.

Despite the precipitous drop, his 57 percent stake in the business is still worth over $3 billion.

The firm, which began trading last month after merging with a public shell company, has benefited from so-called “meme stock” investors who have driven up its share price despite its abysmal financial performance. In 2023, the company generated revenues of just $4.1 million and posted a loss of $58.2 million, according to public filings.

Read more at The Daily Beast.