Trump’s net worth falls by $1 billion as his media stock tumbles

Shares of former US president Donald Trump’s social network ‘Truth Social’  dropped drastically on Monday, April 1 after the company disclosed that it lost more than $58 million and generated very little revenue in 2023.

Trump?s net worth falls by  billion as his media stock tumbles

Trump is the company’s majority shareholder, and his net worth tumbled by more than $1 billion as a result.


In a regulatory filing on Monday, Trump Media said it lost $58.2 million in 2023, compared with a profit of $50.5 million in 2022.

The Truth Social owner generated just $4.1 million in revenue, although that was up from $1.5 million in 2022.


Also, shares of Trump Media tumbled 21% Monday following the new filings, though they are still up nearly 200% so far this year.

Trump owns a commanding stake of 78.8 million shares in the newly public company. At Monday afternoon’s prices, that stake is now worth approximately about $3.8 billion. This represents a massive boost to Trump’s net worth, though it is down significantly from a peak of about $6.3 billion just last week.

The losses disclosed Monday are so severe that Trump Media’s accountants warned at the time they “raise substantial doubt about its ability to continue as a going concern,”


That merger deal was completed last week, paving the way for Trump Media to receive approximately $300 million influx of cash. The company can now use those funds to pay down debt and, importantly, build out its infrastructure.

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