Donald Trump has lost $4 billion in wealth amid bumpy ride for Trump Media & Technology Group
CBSN
Former President Donald Trump's personal stake in Trump Media & Technology Group topped more than $6 billion in March when its shares soared after making their public market debut. Nearly six months later, that fortune has dwindled to less than $2 billion amid losses and shrinking revenue.
A months-long slump has lopped more than 70% from the stock's valuation since its late March peak, with the shares hitting a new low on Wednesday. As the biggest shareholder in Trump Media & Technology, Trump has suffered the largest losses, although the decline is only on paper for now since he's not yet able to sell any of his shares.
Trump owns about 60% of Trump Media & Technology Group, a money-losing social media company that trades under the ticker DJT (the former president's initials). The company has gained a following among Trump's supporters, typically retail investors who have flocked to groups on Truth Social to express concern about the declining share price and blame short sellers for the stock's swoon.
