Trump’s Net Worth Tumbles As Media Company’s Stock Drops Amid Anemic Earnings Report And Posts On X

AP Photo/Alex Brandon

Former President Donald Trump’s media company, Trump Media, shed another five percent of its market value on Monday, closing at its lowest value since mid-April.

The stock tumble came the day after the company’s quarterly earning report on Friday revealed only $836,900 in revenue for the company valued at over $4.5 billion. The company register a net loss of $16.4 million for the second quarter, which ended on June 30th.

Trump himself also began posting again on X Monday, which is a rival to his Truth Social platform that is the main holding of Trump Media. Trump is set to have a live interview with Elon Musk on X on Monday evening.

Forbes highlighted the “extremely low” revenue of Trump Media in their report on the stock tumble and added:

For comparison, fellow social media company Reddit most recently posted $281 million and has a market cap of $8.6 billion, meaning Trump Media stock is trading at about 180 times as expensive compared to quarterly sales as Reddit stock.

Trump is the majority shareholder in Trump Media and as a result of the stock closing just under $25 a share on Monday, the GOP presidential nominee lost some $170 million of his net worth.

Forbes also reported that the company’s value dropped “from $4.9 billion to $4.7 billion, according to Forbes estimates. The value of Trump’s social media wealth pile fell to $2.7 billion Monday, making up a majority of his net worth, with real estate and his golf clubs accounting for much of the rest of his riches.”

Read the full Forbes report here.