Trump Media Shares Plummet, Erasing Billions from Former President’s Net Worth
In a shocking turn of events, shares of Trump Media dropped by more than 22% on Wednesday, significantly impacting the net worth of former President Donald Trump.
A Sudden Reversal of Fortune
As recently as Tuesday, Trump’s stake in the company was valued at approximately $5.9 billion. However, following the sharp decline in share price, his stake is now worth around $4.5 billion. This sudden loss of $1.4 billion in value may have significant implications for Trump’s financial situation, particularly in the lead-up to the 2024 election.
Trump’s Vow Not to Sell
Despite the substantial decrease in value, Trump has stated that he will not sell his shares. As the Republican presidential nominee, Trump owns nearly 57% of Trump Media, according to recent regulatory filings. His decision to hold onto his shares may be seen as a demonstration of confidence in the company’s future prospects.
Market Volatility
The sudden drop in Trump Media shares serves as a reminder of the inherent volatility of the stock market. Investors and analysts will be closely watching the company’s performance in the coming days to see if it can recover from this significant setback.
Developing Story
This is a developing story, and further updates will be provided as more information becomes available.
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