Trump Media shares plummet, costing former president more than $1 billion in net worth

Published On Oct 31, 2024, 1:16 PM

Shares of Trump Media & Technology Group (DJT) suffered a significant drop, declining over 22% in one day, which resulted in a loss of more than $1 billion of net worth for former President Trump, the company's majority shareholder. Despite a rally earlier in the month that saw the stock increase significantly, the recent decline has raised concerns among investors. Shares were further halted due to volatility after dipping over 13% the following day. Analysts suggest the decline is puzzling given the absence of new major announcements or shifts in political polling.