Trump Media Shares Plunge Over 22%, Significantly Lowering Trump's Paper Net Worth Before Election

On a turbulent Wednesday for Trump Media, the company's shares witnessed a sharp decline of more than 22%, significantly dampening a recent surge that had substantially elevated former President Donald Trump's apparent net worth in the lead-up to the 2024 election. After closing at $51.51 per share on Tuesday, DJT stock plummeted to below $40 around noon ET on Wednesday, causing a notable decrease in value.

Impact on Trump's Holdings

As of midday Wednesday, it was revealed that Trump, the Republican presidential nominee, holds nearly 57% of the company, according to recent regulatory filings. Consequently, his stake, which was valued at approximately $4.5 billion, experienced a decline of nearly $1.4 billion compared to its worth on Tuesday afternoon.

Despite this substantial dip in value, Trump has expressed his intention not to divest his shares. This developing situation continues to unfold, with updates expected to follow. Investors are advised to stay tuned for further developments.