Amid campaigning, elections and court cases, presumptive Republican presidential nominee Donald Trump has seen his wealth drop.
The stock of Trump Media & Technology Group, parent company of Trump’s social media platform Truth Social is a key component of the former president’s net worth since the company debuted on the stock market in March.
Trump owns nearly 60% of the company with 78.75 million shares. When the share price tanked in April, the former president fell off the Bloomberg Billionaire’s Index after joining it for the first time two weeks earlier.
Experts have compared Trump Media to meme stocks like GameStop and AMC, buoyed by popular support on social media rather than their success as a business.
Here is how Trump’s stock is performing as he stands trial in a Manhattan over 34 counts of falsifying business records:
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Trump Media stock price
At open on April 17, Trump Media & Technology Group Corp share price rose to $24.26, up 6.2% from the previous close.
How parent company of Truth Social went public
Trump founded his social media company in 2021 after being booted from other major platforms following the January 6 riots at the U.S. Capitol.
Trump Media went public on the Nasdaq on March 26, 2024 through a merger with shell company Digital World Acquisition Corp., a special purpose acquisition company, or SPAC. The merger was announced in 2021.
