Donald Trump’s stake in Truth Social parent drops to $3B after shares continue to plummet
NY Post
Shares of Donald Trump’s media and technology firm fell as much as 12% on Monday, extending a selloff that has now reduced the value of his stake in the operator of Truth Social to $2.9 billion.
After its strong debut in late March, investors have soured on Trump Media & Technology Group after the company disclosed millions of dollars in losses earlier this month and said it would struggle to meet its financial liabilities.
The company’s stock closed 8.4% lower at $37.17 on Monday, a far cry from the record high of $79 it had notched during its debut on March 26. It is down about 40% so far in April.
The declines are reducing a potential windfall for Trump who could sell his shares to raise money for his 2024 presidential campaign and legal expenses, although lock-up restrictions for six months could prevent him from selling or borrowing against his shareholding.
Trump – who owns about 78.75 million shares in the company – has seen a sharp slide in the valuation of his stake from around $6 billion last month.
The market value of whole of Trump Media & Technology Group is now below that figure, at about $5.55 billion.
