Trump's Truth Social Plunge Wipes Out Billions
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.