The shares of the former president Trump’s social media company slumped 21.5% on Monday, resulting in a net worth decline of over $1 billion.
Trump Media & Technology Group, which only made $4.1 million in income from Truth Social advertisements, revealed a $58 million net deficit for 2023.
By year’s end, it had likewise lost steam, bringing in just $751,500 in sales for the fourth quarter.
On Monday, Trump’s ownership interest in the business dropped from $4.89 billion to $3.84 billion.
The drop was once even more severe, with shares falling more than 25% before a slight recovery.
A lockup agreement prevents him from selling any shares for a minimum of six months.
