Former President Donald Trump’s net worth has dropped more than $1 billion Wednesday, as shares in Trump Media & Technology Group plummeted 20%, ending a dayslong rally for the company’s stock as Election Day nears.
Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2024/10/30/donald-trumps-net-worth-tumbles-over-1-billion-as-trump-media-shares-plummet/
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Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2024/10/30/donald-trumps-net-worth-tumbles-over-1-billion-as-trump-media-shares-plummet/
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PeopleTranscript
00:00Former President Donald Trump's net worth has dropped more than $1 billion Wednesday
00:05as shares in Trump Media and Technology Group plummeted 20 percent, ending a days-long rally
00:10for the company's stock as Election Day nears.
00:15Trading in Trump Media's stock has become more turbulent in recent weeks as it has skyrocketed
00:19in tandem with betting odds moving toward Trump and the presidential election.
00:25Nasdaq halted trading for Trump Media five times on Tuesday, citing volatile trading
00:30for the stock after the company surpassed its 30-day average trading volume in less
00:34than an hour, a series that set the stock down more than 2 percent before finishing
00:39the day up nearly 9 percent.
00:43Shares of Trump Media fell to just over $41, following three straight positive trading
00:48sessions for the company.
00:50Trump Media's shares appeared to benefit earlier this week from Trump's rally at
00:54Madison Square Garden, sending the stock back above $50 after previously falling to just
01:00below $12 last month.
01:03The value of Trump's roughly 57 percent stake in Trump Media, totaling 114.75 million
01:10shares, decreased from $5.9 billion Tuesday to $4.7 billion.
01:18Trump's net worth is valued at $6.9 billion after decreasing by $1.2 billion, or 14 percent,
01:25on Wednesday, according to Forbes estimates.
01:29Trump has said he would not sell his stake in the firm despite recently becoming eligible
01:33to do so.
01:36For more on this story, check out Tyler Rauch's article in the link in the description.