The billion-dollar sum of money Donald Trump has lost in October on DJT stock
Donald Trump has lost more than $2 billion due to the fall in the shares of Trump Media & Technology Group, the parent company of Truth Social.
Presidential candidate Donald Trump has lost a large part of his fortune due to a fall in the shares of Trump Media & Technology Group. According to estimates, the businessman’s net worth fell by around $2.4 billion.
According to financial portal Investing.com, Trump’s stock price plummeted more than 12% on Friday after falling 11.72% on Thursday and 22.29% on Wednesday.
After the market closed on Tuesday, the stock was worth $51.50, which translates to about $5.9 billion for Trump. On Friday, the value of Trump's stock fell to about $3.5 billion, or a loss of $2.4 billion.
According to Investing.com, as of 3:51 p.m. ET, the stock price is at $30.43.
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Trump Media & Technology Group shares plunge after five straight weeks of gains
According to Investing.com, Trump Media & Technology Group, which trades under the symbol DJT, recorded five consecutive weeks of gains, of 31.68%, 17.01%, 53.21%, 11.26% and 8.86%, before falling this week.
The rise in recent weeks was based on the perceived prospects that Trump may reach the White House once again. However, by Friday, the stocks had lost more than 40% of their value.
According to CBS News, Trump owns about 115 million shares of Trump Media, making him the largest investor in the social media company.
How much money does Donald Trump have? This is his fortune
According to the Forbes billionaires list, consulted on November 1, Donald Trump has a net worth of $5.7 billion, with a loss recorded today of $463 million, equivalent to 7.53%.
Much of his fortune comes from real estate. He also owns golf courses, mansions, a wine cellar and a Boeing 757. But, of course the value of real estate, like the share price of Trump Media, can fluctuate rapidly, depending on the economy and local conditions.
Trump himself admitted under oath in 2007: “My net worth fluctuates, and it goes up and down with markets and with attitudes and with feelings, even my own feelings.”