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Trump's net worth drops about $475 million as media stocks fall

Trump's net worth drops about 5 million as media stocks fall
Trump's net worth drops about 5 million as media stocks fall

 



Top line

Former President Donald Trump's net worth fell by about $475 million on Thursday as shares of Trump Media continue to fall, decreasing the value of his stake in the social media company by more than 2 billion dollars this month.

The former president's stake has lost more than $2 billion so far this month.

Getty Images Key Facts

Shares of Trump Media & Technology Group, Trump's parent company of the social media platform Truth Social, fell more than 13% to $27.17 Thursday morning.

The value of Trump's nearly 65% ​​stake in the company, totaling 114.75 million shares, increased from $3.5 billion to $3.1 billion.

Trump Media's stock price is down about 43% since the start of the month, to just over $49, reducing the value of Trump's $5.6 billion stake in the company. 'approximately 2.4 billion dollars.

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Forbes Rating

We estimate Trump's net worth at $5 billion, after seeing a nearly 8% drop on Thursday.

Large number

$4.1 billion. That's how much Trump's net worth increased when Trump Media went public on March 26, when the company's stock price peaked at $79.38. Forbes estimates that Trump Media is worth between $40 million and $90 million using the same metrics of average revenue per user and price-to-sales ratio that are used to determine the value of other social media companies.

Key context

Trump Media's drop comes on top of an earlier decline this week, after shares of the social media company fell nearly 10% on Tuesday. The company went public by merging with Digital World Acquisition Corp, after announcing plans to merge in 2021. Trump Media was allowed to enter the market without the regulatory hurdles associated with traditional public offerings, as Digital World is a private equity company. acquisition for a specific purpose. Since then, Trump's company has seen volatile stock market swings, including a nearly 20% drop in the weeks following his conviction in his secret trial.

Further ReadingForbesTrump Convicted of All 34 Felonies in Hush Money Trial: Here's What Happens NextBy Alison Durkee ForbesDonald Trump Stocks Down Nearly 20% Since His Hush Money ConvictionBy Antonio Pequeo IV

Sources

1/ https://Google.com/

2/ https://www.forbes.com/sites/tylerroush/2024/06/20/donald-trumps-net-worth-falls-further-over-2-billion-this-month-as-shares-decline/

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