Trump’s Net Worth Drops $400 Million After Media Company Reports Millions In Losses

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Donald Trump Holds First Rally Of 2024 Presidential Campaign

Trump Media shares fell more than 8%.


Former President Donald Trump’s net worth dropped more than $400 million Tuesday following a drop in stock for his media company, Trump Media and Technology Group, after it reported millions of dollars in losses during the first quarter.


KEY FACTS

Trump’s estimated net worth slid $454 million to $7 billion, a 6% drop and a significant fall from his all-time high net worth of $8.2 billion, which he briefly secured less than two weeks ago.

The drop follows Trump Media’s reporting of merger-related expenses linked to a net loss of $327.6 million in the first three months of the year, with $311 million of that figure coming from “non-cash expenses arising from the conversion of promissory notes”—agreements to repay loans.

Trump Media posted a first-quarter operating loss of $12.1 million—about half of which included one-time payments related to the company’s merger with Digital World Acquisition Corp. earlier this year.

Trump Media shares fell more than 8% Tuesday following the earnings report published Monday evening, closing at $44.19 and contributing to a more than 18% drop experienced over the last five trading days.

BIG NUMBER

$770,500. That’s how much Trump Media generated in revenue in the first quarter compared to $1.1 million it revenue it secured in the same quarter last year, according to its earnings report.

KEY BACKGROUND

The difference between Trump Media’s first quarter revenue of $770,500 and its $12.1 million in operating losses may be stark, but the company still has plenty of cash on hand, reporting $233 million in cash and cash equivalents as of March, according to an SEC filing. Trump Media, the parent company of the former president’s social media network, Truth Social, has fluctuated significantly since its merger with DWAC took it public, sending Trump’s net worth swinging in the last month. The stock traded at $22.84 in the middle of April and jolted to $54.39 early this month, which boosted Trump’s net worth to $8.2 billion. Though the company’s public debut provided Trump with a multibillion dollar windfall, the former president, who faces mounting legal bills and civil judgements collectively worth hundreds of millions of dollars, will not be able to sell his shares for about four more months due to a lockup period.

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