Shares are ever-so-slightly above their all-time low. The stock plunge has erased more than $5 billion in wealth for Trump and his family
Bloomberg
Shares are ever-so-slightly above their all-time low, currently trading at $10.29, and that's having an impact on Trump's personal fortune. The stock plunge has erased more than $5 billion in wealth for Trump and his family. Trump owns roughly 115 million shares of the company.
The decline has been a fairly steady one since the stock's big jump in January prior to the start of his administration's second term. Year to date, Trump Media shares have lost 70% of their value. (The stock was poised to drop once again in pre-market trading Thursday.)
Investors are particularly concerned about the company's crypto holdings. The broader cryptocurrency market has been in meltdown for the better part of the past month-and-a-half. Bitcoin prices are now below where they were when Trump took office and just under 2% lower for the year. After spiking as high as $124,000, the price now stands at less than $92,000.
Trump Media has been investing heavily in Bitcoin, accumulating $2 billion worth in July, which made up roughly two-thirds of its liquid assets at that time.
The crypto problems are likely having a larger impact on Trump's wealth, as he has holds or has invested in additional crypto ventures including the decentralized finance entity World Liberty Financial and the meme coin $TRUMP, which has fallen from a price of $45 to less than $7 since the start of the year.
Trump has been incredibly pro-crypto since taking office, easing regulations for token traders. He has shrugged off concerns about a conflict of interest, noting that his assets are in a trust that's managed by his son Donald Trump, Jr.
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