Shares of Trump's company, which is trying to become President again, slipped, net worth decreased by one billion dollars

There is bad news from the market for former President Donald Trump, who is preparing for a new term in the White House after the elections to be held in America later this year. Shares of his media venture, Trump Media & Technology Group, have fallen sharply. This resulted in a loss of USD 1 billion in his net worth. CNN has given this information in one of its reports.

After Trump's company presented disappointing financial figures, its shares fell. According to company data, it has suffered a loss of more than USD 58 million. The company has made minimum revenue generation in 2023. Trump has majority ownership in the company, due to which the company's performance directly impacts the former President's wealth. The recent fall in the company's shares has caused a significant loss to his wealth.

According to CNN, Trump Media's most recent regulatory filing shows a significant disparity between its 2023 financial performance and the prior year. The business made USD 50.5 million in profit in 2022, but it lost a staggering USD 58.2 million in 2023. The revenue statistics were also unsatisfactory. Trump Media's revenue of US$4.1 million was only slightly higher than the US$1.5 million projected for 2022. Furthermore, the company's revenue dropped 39% to just US$7,51,500 in the fourth quarter of 2023. Investors' worries about the company's stability grew as a result.

Trump Media's stock price is still roughly 200% higher than it was at the start of the year, despite a sharp decline on Monday of almost 21%. At Monday's prices, the former president Trump's substantial holding of 78.8 million shares in the company is valued at approximately USD 3.8 billion. However, compared to the peak of roughly US$6.3 billion one week ago, this represents a significant decline.