Based on stock market performance following a debut in public trading, former President Donald Trump’s media company, which is responsible for his social media site Truth Social, has reportedly lost BILLIONS (with a “b”!) of dollars in value.
“The company, which operates Trump’s Truth Social platform, has lost roughly $4 billion in market value over that stretch,” a MoneyWatch report explained on Friday, referring to the time since stock trading of the Trump company, which recently merged with a firm called Digital World Acquisitions Corp. (DWAC), got moving.
Investing in the company is predictably popular among political supporters of the former president, meaning that’s a category of investor likely to be on the losing end amid potential financial turmoil for the Trump company. Even infamous Rep. Marjorie Taylor Greene (R-Ga.) has previously reported investing in the operation when the only available target for such investments was the (already publicly traded) blank check firm. The merger was finalized only after extensive delays, during which even federal investigations into the relationship between the formerly distinct companies moved forward.
Trump currently holds a majority of the stock shares in the company behind Truth Social, meaning volatility in its valuation on the market also threatens to significantly impact the former president’s own holdings, though widely reported (but time-limited) restrictions likely close off possibilities of Trump cashing out anytime soon anyway.
But the hits appear significant. Across just the prior week of trading, Trump’s company’s stock price fell by over 30 percent. The company is led in part by former Republican Congresswoman Devin Nunes, who is remaining predictably optimistic, though Truth Social still lags behind comparable mainstream sites in usage rates no matter the former president’s own consistent utilization of the platform. Trump posts to Truth Social like he used to use Twitter, now known as X.
