Trump's Truth Social Plunge Wipes Out Billions
TL;DR Summary
Shares for Trump Media fell by 26% after reporting a net loss of $58 million, causing Trump's net worth on paper to decrease by over a billion dollars. The stock's performance has been questioned due to the lackluster performance of its core product, Truth Social, which has far fewer users than major social media platforms. This setback comes at a time when Trump is facing significant legal debts, including a $175 million appeal bond in a civil fraud case and $83.3 million in defamation damages to E. Jean Carroll.
- Trump worth a billion dollars less after Truth Social shares fall Business Insider
- Trump Media stock closes 21% lower after company reports $58 million loss for 2023 CNBC
- Investors Are Bailing as Fast as They Can From Trump's Broke Company The New Republic
- Trump's Truth Social loses $4 billion in value in one week, while revealing wider loss CBS News
- Trump Media Stock Slumps as Early Fervor in Truth Social Owner Fades The New York Times
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