Truth Social going public net Trump estimated 2 to 4 BILLION

[GMDino]

https://finance.yahoo.com/news/trump-no-longer-bloomberg-billionaires-163305392.html

Quote:Trump no longer on Bloomberg Billionaires Index after Truth Social stock plummets

Bailey Schulz, USA TODAY
Tue, Apr 9, 2024, 12:33 PM EDT2 min read

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Trump Media shares have been slipping. So has Donald Trump’s net worth.

Trump is no longer listed on the Bloomberg Billionaires Index, a daily ranking of the world’s 500 richest people, after the stock price for Trump Media – the parent company behind the former president’s social media company Truth Social – took a nosedive.

Shares dipped 12% on Friday, 8% on Monday and were down another 2% late Tuesday morning to trade at $36.35. That’s down more than 50% since its peak of $79.38 in late March.

Tuesday has been the stock’s lowest trading day since Trump Media merged with the public shell company Digital World Acquisition Corp. and started trading under the ticker to DJT on March 26.

This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app.
The price dip has wiped out billions of dollars from the company’s market value. After being valued at nearly $8 billion after its stock market debut just two weeks ago, the company's valuation was closer to $5 billion as of Monday evening.

How much is Donald Trump worth?
Trump Media’s stock has been volatile since its launch two weeks ago, which means the former president’s net worth has also seen some major swings.

Trump – who owns roughly 60% of Trump Media with 78.75 million shares  – saw his stake worth as much as $6 billion after the company went public, earning him a spot on the Bloomberg Billionaires Index.

DJT stock hits turbulence: More volatility ahead for Trump's high-flying Truth Social

As of Monday afternoon, the value of his stake was hovering closer to $3 billion – at least on paper. Trump cannot offload his shares until September without approval from the Trump Media board.

Forbes listed Trump’s current net worth at $4.7 billion as of late Tuesday morning, making him the 664th richest person in the world. Currently, the lowest net worth included in the Bloomberg Billionaires Index ‒ which measures personal wealth based on changes in the market, the economy and Bloomberg reporting ‒ is $5.82 billion.

How much is Trump Media worth?
While the company’s value has dipped in recent days, $5 billion is still a high price tag for a company that lost more than $58 million with a revenue of $4 million in 2023.

Experts have said the company is overvalued compared with other social media platforms, thanks in part to investments by Trump supporters. Shortly before the company went public, an auditing firm warned that Trump Media’s operating losses “raise substantial doubt about its ability to continue as a going concern.”

Trump defended the company on Truth Social last week, writing that he believes the company is “very solid” and "growing fast."
"If it didn’t work, or properly get the word out, I wouldn’t use it - But it does work, and work really well - And the fun is just getting started!!!" one post reads in part.

This article originally appeared on USA TODAY: Trump no longer on Bloomberg Billionaires Index after Trump Media dip

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