Donald Trump’s net worth has dropped by $300 million after shares of Truth Social’s parent company, Trump Media & Technology Group, plunged. According to Forbes, the company’s stock fell 8% on November 12, continuing a decline that began after an initial surge after the election.
As of 2:40 p.m. EST on November 12, Trump Media stock had fallen from a high of $33.41 on November 11 to below $31. The decline comes after two days of rally that saw the stock rise 20.6%. As a result, the value of Trump’s 57% ownership stake in Trump Media – equivalent to 114.75 million shares – has declined from $3.8 billion on November 11 to about $3.5 billion. That represents a significant decline from a peak of $5.2 billion when the stock hit $45.77 on Nov. 6, Forbes reports.
The initial surge in the company’s share price came after a statement by Trump on Truth Social last week. He dismissed rumors of his intention to sell his stake in Trump Media, calling them “bogus, untrue and probably illegal claims”, although it is unclear what specific allegations he was referring to.
According to the latest estimate by Forbes, Trump’s current net worth is $5.6 billion, making him the 591st wealthiest person globally. Trump Media’s fortunes have fluctuated due to the volatility of its stocks. A surge in October pushed his net worth above $8 billion for the first time since the company went public earlier this year.
Although Trump has repeatedly said he will not sell his stake in Trump Media, other company executives have planned to sell shares. Earlier this month, Trump Media CFO Philip Juhn announced his intention to sell about $13.4 million of shares through December 2025, according to a filing with the Securities and Exchange Commission.
Trump Media has faced significant volatility since its public listing through a reverse merger with Digital World Acquisition Corp in March 2024. The company’s stock has been subject to ups and downs related to both Trump’s political campaign and the financial performance of the business.
According to Forbes, in its third quarter earnings report, Trump Media reported a net loss of $19 million, citing legal expenses and costs associated with its TV streaming services. The stock rose after Trump’s debate with President Joe Biden in July and an attempt on his life, but it fell sharply after his debate with Vice President Kamala Harris in September.
