Trump Media shares have been slipping. So has Donald Trump’s net worth.
Trump is no longer listed on the Bloomberg Billionaires Index, a daily ranking of the world’s 500 richest people, after the stock price for Trump Media – the parent company behind the former president’s social media company Truth Social – took a nosedive.
Shares dipped 12% on Friday, 8% on Monday and were down another 2% late Tuesday morning to trade at $36.35. That’s down more than 50% since its peak of $79.38 in late March.
Tuesday has been the stock’s lowest trading day since Trump Media merged with the public shell company Digital World Acquisition Corp. and started trading under the ticker to DJT on March 26.
The price dip has wiped out billions of dollars from the company’s market value. After being valued at nearly $8 billion after its stock market debut just two weeks ago, the company’s valuation was closer to $5 billion as of Monday…
