Donald Trump’s Net Worth Falls by $1 Billion as His Social-Media Company’s Stock Plummets

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Donald Trump's net worth fell by $1 billion, making him worth just $6.8 billion. His Trump Media company lost $58 million in 2023.

David and Victoria Beckham Spiced Up Their Family Easter on This 130-Foot Superyachton Monday. That’s thanks to the rough 2023 that his social-media company had, losing more than $58 million last year. Now Trump is worth a mere $6.4 billion, according to the BloombergRyan Reynolds and Rob McElhenney Bought a U.K. Soccer Club in 2021. It Now Owes Them $11 Million.Trump Media & Technology Group saw its shares tumble after the news was announced as well.

While Trump Media lost a good deal of money last year, it did see its revenue rise compared with the year prior. In 2022, the former president’s venture brought in just $1.5 million in revenue, Bloomberg wrote. Last year, that increased to $4.1 million in revenue. When compared with other social-media companies, Trump Media’s struggle becomes even more apparent. Last year, Reddit brought in $804 million in revenue, while Snapchat’s parent company saw $4.6 billion in sales. Those two businesses seem to be much larger than Trump’s Truth Social, however. While the latter revealed in February that it had about 9 million sign-ups, Reddit had 267.

Despite being a billionaire, Trump has been staring down cash-flow problems as he deals with several legal woes. On Monday, he was finallya $175 million bond in a civil-fraud case playing out in New York. The deal will allow him to avoid a $454 million payment while he appeals the case. The Donald’s stake in Trump Media won’t be able to help him here, though: A six-month lockup agreement means he’s not able to sell his shares, Bloomberg said.

With Trump’s first criminal trial scheduled to begin April 15—concerning claims that he faked business records to hide payments to the adult-film star Stormy Daniels—his rocky year seems set to continue.Tori Latham is a digital staff writer at Robb Report. She was previously a copy editor at The Atlantic, and has written for publications including The Cut and The Hollywood Reporter. When not…Ryan Reynolds and Rob McElhenney Bought a U.K. Soccer Club in 2021. It Now Owes Them $11 Million.

 

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