Trump's net worth plummets $1.8 billion as Trump Media shares nosedive: report

Roxanne Cooper
02 March
Donald Trump speaks at Turning Point USA's AmericaFest in Phoenix, Arizona, U.S., December 22, 2024. REUTERS/Cheney Orr/File Photo

According to a new report at Politico, Wall Street is experiencing a significant downturn that's affecting all risky assets, including those associated with President Donald Trump. Since Inauguration Day, publicly traded investments linked to the Trump empire have been in substantial decline. Trump Media & Technology Group's shares have fallen 36%, while the $TRUMP and $MELANIA memecoins have dropped 64% and over 90% respectively.

This decline is part of a broader market selloff in speculative investments. Matthew Tuttle, CEO of Tuttle Capital Management, likens the situation to a bubble that has finally found its pin, suggesting that these investments couldn't defy market gravity indefinitely.

The market shift has affected more than just Trump-related assets. The "Magnificent Seven" tech stocks, including Nvidia, Meta, and Tesla, which previously drove the S&P 500 to record highs, are down 6% this year. Bitcoin has fallen 23% from its all-time high. Wall Street veterans are warning that this selloff could be just the beginning of a larger market correction.

Suggesting there's excess speculation that needs to be addressed, Julian Klymochko of Accelerate Financial Technologies believes a "market-clearing event" is overdue. However, some experts, like Robert Ruggirello of Brave Eagle Wealth Management, view the recent declines as normal market volatility, particularly given February's historical tendency for market fluctuations.

The impact on Trump's personal wealth has been significant. Forbes estimates his net worth at $5.1 billion, with a large portion tied to Trump Media. His stake in the company has fallen from $4.6 billion at inauguration to $2.8 billion due to the share price decline.

Trump Media, which Trump majority owns, has struggled to maintain its value since its peak in March 2024.

The volatility in memecoins has also affected traders. According to Chainalysis, over 885,000 crypto wallets have lost money trading $TRUMP, and 301,000 have lost on $MELANIA. Total losses recorded by these wallets amount to nearly $2.5 billion. However, 1.2 million wallets have profited, with gains exceeding $8 billion. The Trump family and partners have earned about $350 million through trading fees and token sales.

Read the full report in Politico.

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