Trump's net worth takes $1 billion hit after DJT stock plunge

By Emily Bary

Shares of Trump Media and Technology Group fell 21% on Monday

Shares of Trump Media and Technology Group Corp. tumbled 21% in Monday trading, leading to about $1 billion in losses for former President Donald Trump - at least on paper.

Trump owns about 78.8 million shares of the Truth Social parent company (DJT), which merged with a special-purpose acquisition company in late March to make its public-market debut. While that Trump Media stake was worth about $4.9 billion as of Thursday's close, its value fell to roughly $3.8 billion following Monday's bearish trading action.

See also: Here's what the Trump DJT and Reddit stock deals might mean for the broad market

The Trump Media-linked decline in Trump's net worth is viewed as a paper loss, as he continues to hold his shares in the company.

Trump owns a majority stake in Trump Media. The company saw its overall market value fall by $1.8 billion to about $6.7 billion on Monday, according to Dow Jones Market Data.

Shares of Trump Media have seen volatile market activity since the SPAC merger closed last week.

The stock came under pressure Monday after the company revealed new details about its financials in a filing with the Securities and Exchange Commission. Trump Media lost $58.2 million last year, compared with $50.5 million the year before. Meanwhile, annual revenue amounted to $4.1 million, up from $1.5 million.

Read also: Trump scores two financial victories with appeals-bond ruling and Wall Street stock listing

-Emily Bary

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04-01-24 1810ET

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