Trump has now lost $4 billion in personal wealth as Truth Social stock hits new all-time low
According to Forbes, former President Donald Trump's net worth went from $2.6 billion in October 2023 to $7.5 billion in May 2024. But he's since been reeling from his signature stock taking a beating in financial markets.
The wild swings in the former president's net worth has a lot to do with Trump's tech company Trump Media & Technology Group (TMTG), which includes his Truth Social platform and became publicly traded earlier this year. But the value of Trump Media stock has fluctuated wildly in 2024, causing Trump's net worth to fluctuate as well.
According to Yahoo Finance, the value of Truth Social stock is now roughly $19.50 per share. But back in March, after the IPO (initial public offering) launch, Trump Media stock was valued at $71.93 per share. And that type of fluctuation with Truth Social shares also means fluctuation for Trump's net worth.
READ MORE: 'This could look bad': Why Trump could dump his majority stake in Truth Social in 30 days
Bloomberg News, on August 20, reported that Donald Trump would soon be allowed to sell as many Trump Media shares as he wants.
Trump, according to Bloomberg News, owns around 78 million shares in TMTG, meaning his stake was worth $5.6 billion at the time of the IPO. Wednesday's new share price now means his stake is worth $1.5 billion — a loss of more than $5 billion in value. And Michael Ohlrogg, a New York University professor, noted that if Trump sold too many of them, it could "be perceived as sending a signal about his lack of confidence in the company."
Ohlrogge told Bloomberg News, "This could look bad in its own right, and a drop in share price could look bad for him as well."
Another factor to consider when weighing Trump's net worth is his legal expenses. The former president is presently facing three active criminal indictments (down from four after Judge Aileen Cannon dismissed special counsel Jack Smith's classified documents case) as well as a range of civil lawsuits and judgements.
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