After the former president lost more than $475 million, Forbes estimates that net assets fell by 8%
Former United States President Donald Trump’s assets suffered a reduction of around US$475 million this Thursday (June 20, 2024). The decline was due to the continued devaluation of shares in Trump Media, a social media company. The information is from Forbes.
Trump Media & Technology Group, behind the social media platform Truth Social, saw its shares decline by more than 13%. The value of Trump’s stake, owner of almost 65% of the company, fell from US$3.5 billion to US$3.1 billion.
Since the beginning of June, Trump Media’s share price has plummeted by 43%. The company faced another fall when its shares fell almost 10% on Tuesday (June 18).
Trump Media entered the public market by merging with a SPAC (Digital World Acquisition Corp), which made it easier to enter the market without the regulatory hurdles of traditional public offerings. Since then, the company’s shares have experienced inconsistent movements.
Source: https://www.poder360.com.br/internacional/patrimonio-de-trump-cai-com-desvalorizacao-da-trump-media/
