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.


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