- Donald Trump’s net worth took a big hit on Monday.
- The former president’s net worth has fallen by more than $1 billion after Trump Media’s stock price plummeted.
- Trump is prohibited from selling any Trump Media stock until a six-month lock-up period expires.
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Former President Donald Trump is probably not too happy after the stock price of his social media company, Trump Media & Technology Group, plummeted on Monday.
trump media stock It fell by 26%. It reported a net loss of $58 million last year on revenue of just $4.1 million. SEC filing.
The drop in stock prices also means Trump’s paper net worth is now down by more than $1 billion.
Trump’s net worth soared last week Trump Media goes public March 26th Company stock Gained up to 59% on the first day of trading. This increased his net worth by more than $4 billion. bloomberg.
Trump owns 57% of Trump Media, but he is not allowed to sell his holdings until the presidential election. Expiration of 6 month lock-up period.
Even before Monday’s selloff, the stock’s performance was considered questionable given the lackluster performance of its core product, Truth Social.
Social media platforms include Far fewer monthly active users than Facebook or X (formerly Twitter)and its appeal is largely limited to Trump supporters.
That said, Monday’s developments are likely to be disappointing for Trump, who was poised to make huge profits from the company’s stock before his rout.
The money will certainly come in handy for President Trump, who has racked up legal debts.
On Monday, Trump posted $175 million in appeal bail in a New York civil fraud case. An appeals court last week lowered President Trump’s bond amount, lowering it from the maximum. $454 million He said he was originally asked to pay.
In addition to the civil fraud case, President Trump owes $83.3 million in defamation damages to author E. Jean Carroll, whom a jury in 2023 found guilty of sexual abuse. .
Representatives for Mr. Trump did not immediately respond to a request for comment from Business Insider outside of normal business hours.