Former President Donald Trump’s Net Worth Falls Below $4 Billion Amid Truth Social Troubles
Former President Donald Trump’s net worth has fallen below $4 billion for the first time since his social media company, Truth Social, went public last month. Despite this decrease, Trump is actually richer on paper than he was before the company’s public debut.
Trump launched Truth Social in 2022 during his suspension from major social networks for his posts prior to the January 6, 2021 storming of the US Capitol. The launch occurred after the special purpose acquisition company (SPAC) Digital World announced its intention to merge with Trump Media, capitalizing on the SPAC craze that has since dwindled.
Trump’s 10-figure sum through the Trump Media listing came at a convenient time as his legal troubles and associated fees continue to mount. The 77-year-old politician began a criminal trial in New York on Monday and posted $175 million in bail earlier this month.
While Trump cannot yet cash out his stake in Trump Media due to federal regulations, there is a possibility that the value of his social media holdings could decrease even further before he can sell any shares. The market capitalization of Trump Media currently stands at $3.3 billion, representing 790 times its revenue from last year, with a price-sales ratio 290 times higher than the S&P 500 average.
Recent events have seen Trump’s fortune drop by more than $200 million to $3.8 billion, with his share of social media now valued at $1.9 billion. Despite these setbacks, Trump remains optimistic about the future of Truth Social and his overall financial standing.