Donald Trump's net worth took a significant blow, dropping by USD 300 million, following a steep decline in the stock price of Trump Media & Technology Group (TMTG), the parent company of Truth Social. The company's stock slid by eight per cent on November 12, continuing a downward trend that began after an initial post-election surge, as reported by Forbes.
By 2:40 pm EST on November 12, TMTG's stock had fallen below USD 31, down from a high of USD 33.41 the previous day. This decrease follows a brief two-day rally, during which the stock had surged by 20.6 per cent. As a result, Trump's 57 per cent ownership stake in the company, equating to 114.75 million shares, has seen its value drop from just over USD 3.8 billion on November 11 to approximately USD 3.5 billion. This marks a significant decline from the peak value of USD 5.2 billion when the stock hit USD 45.77 on November 6.
The initial surge in the stock price was sparked by a statement Trump posted on Truth Social last week, where he dismissed rumours that he intended to sell his stake in Trump Media. He described the rumours as "fake, untrue and probably illegal claims," although the specific allegations he was referring to remain unclear.
According to Forbes' latest estimates, Trump's current net worth stands at USD 5.6 billion, ranking him as the 591st wealthiest individual globally. His fortune has been notably volatile, primarily due to the fluctuating value of Trump Media's stock. A brief surge in October pushed his net worth above USD eight billion for the first time since the company's public listing earlier this year.
While Trump has consistently stated that he has no plans to sell his stake in Trump Media, other company executives have shown intentions to offload shares. Earlier this month, TMTG CFO Phillip Juhan revealed plans to sell approximately USD 13.4 million worth of shares by December 2025, according to a filing with the Securities and Exchange Commission.
FAQ
Who Trump ran against and won in the 2016 Presidential Polls?
The 2016 US presidential election, held on November 8, saw Republican candidates Donald Trump and Mike Pence defeat Democrats Hillary Clinton and Tim Kaine. This election, considered one of the biggest political upsets in US history, was the fifth time a candidate won the presidency while losing the popular vote.
Since its public listing in March 2024 via a reverse merger with Digital World Acquisition Corp, Trump Media has experienced substantial stock volatility, driven by both Trump's political campaign and the financial performance of the company itself. In its third-quarter earnings report, the company revealed a net loss of USD 19 million, primarily due to legal expenses and costs associated with its TV streaming services. The stock had spiked after Trump's debate with President Joe Biden and following an attempted assassination in July, but it dropped sharply after he debated with Vice President Kamala Harris in September.
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