Trump Media lost over $400m in 2024 — with revenue plummeting 12 percent
According to Forbes, President Donald Trump's net worth fluctuated a great deal in 2024. Forbes estimated Trump's net worth to be roughly $5.6 billion on November 4 and $6.1 billion on December 23.
Although real estate assets remain a big part of Trump's net worth, a major factor in recent years has been Trump Media & Technology Group — which includes his social media platform Truth Social.
The value of Truth Media has fluctuated, affecting Trump's net worth. And according to CBS News, the company suffered substantial losses in 2024.
CBS News reports, "Trump Media says it lost more than $400 million last year while revenue dropped 12 percent to $3.6 million. Trump Media & Technology Group, which reported its earnings late Friday, (February 14), said its annual loss was due to non-cash charges, including $107.4 million in stock-based compensation and an accounting loss of $225.9 million linked to changes in the fair value of derivative liabilities."
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CBS News notes that after Trump won the 2024 election, he "transferred all of his shares" of Trump Media & Technology Group — which were "worth around $4 billion on paper" — to the Donald J. Trump Revocable Trust.
"Trump's shares amounted to more than half of the company's stock," according to CBS News. "Donald Trump Jr., the oldest of the president's five children, is the sole trustee and has sole voting and investment power over all securities owned by the trust."
CBS News also points out that "in recent months," Trump Media & Technology Group "has rolled out a streaming service and applied for trademarks for a line of exchange-traded funds — a type of investment fund — as well as separately managed accounts."
"Trump Media CEO Devin Nunes said the goal is to provide investment vehicles focused on American energy and manufacturing companies, as well as 'a competitive alternative to the woke funds and debanking problems that you find throughout the market,'" CBS News explains.
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Read the full CBS News article at this link.
