Donald Trump‘s net worth has tanked by a staggering £1.85 billion this year as his media shares dip to a five-month low. The US president’s net worth has plummeted from £5.4 billion on January 13 to £3.5 billion on Monday, according to Forbes, making him the 753rd richest person in the world. This is partly due to the real eastate market, which the Republican made most of his money from, struggling with high interest rates.
Working from home also continues to be popular in the US, meaning companies are less likely to invest in office spaces, while retailers move from physical shops to online enterprises. Mr Trump’s January wealth was boosted by a £675 million increase in the value of Trump Media & Technology Group (TMTG) stock – of which he owns the majority.
However, since then, TMTG stock tanked from £33.11 per share on January 13 to £14.89 as of Tuesday morning.
TMTG stock has been extremely volatile since going public in March 2024 – peaking at £51.10 on its second day of trading before plunging to a close of £17.63 on April 16.
Seemingly tied to Mr Trump’s political fortunes, TMTG stock rebounded at the start of May last year but fell again after he was found guilty of falsifying business records related to a hush money payment made to adult film star Stormy Daniels.
It then steadily declined amid turmoil in the presidential race, with Vice President Kamala Harris replacing President Joe Biden as the Democratic presidential nominee. The stock hit a record low closing price of £9.38 in mid-September.
In December 2024, Mr Trump shifted an estimated £114.75 million of TMTG shares into the Donald J. Trump Revocable Trust, named after his son who is the sole trustee.
The president’s financial woes come alongside his country’s, as fears of a « Trumpcession » mount. He was grilled on his plan to boost the US economy, but avoided giving a definite answer as what his administration is doing « is very big ».
He told Fox News: « I hate to predict things like that. There is a period of transition, because what we’re doing is very big. There are always periods of … it takes a little time. It takes a little time. But I think it should be great for us. »
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