The Damage Report
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Trump PLUMMETS In Sudden Financial Downfall As Truth Social Collapses
Posted
August 3, 2024
Views
315,038
Likes
14,458
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1,189
Engagement
4.97%
August 3, 2024
315,038
14,458
1,189
4.97%
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5:47Now PlayingDonald Trump's net worth plummets in $900 million loss in the days since Vice President Kamala Harris entered the race through Trump's Truth Social stakes as the social media platform tanks. John Iadarola and Brett Erlich break it down on The Damage Report.
Read more here:
Trump’s net worth has plunged $900 million since Harris entered the race for the White House
"Former President Donald Trump’s social media fortune is shrinking.
The value of Trump’s stake in the corporate owner of Truth Social has dropped by $900 million since Vice President Kamala Harris entered the race for the White House on July 21. Trump Media & Technology Group’s share price has tumbled by about 23% since then, including another sharp drop on Thursday amid a broader market selloff.
The value of Trump’s dominant stake in the conservative social media company stood at just over $4 billion as of July 19, the final trading day before President Joe Biden exited the race and endorsed Harris. It has since dropped to about $3.1 billion.
The selloff comes as national and battleground polls indicate a tight matchup between Trump and Harris. The stock has become a vehicle for Wall Street traders to bet on the prospects of Trump returning to the White House, as Truth Social could become the platform for presidential communications if Trump wins."
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