The net worth of President Donald Trump has taken a significant hit, dropping by $1.1 billion amid the plummeting value of his technology company stock, Trump Media & Technology Group (NASDAQ:DJT), as well as the recent crypto crash.
Forbes Puts Trump at $6.2 Billion
Trump’s net worth has seen a substantial decrease, now standing at $6.2 billion, a stark contrast from the $7.3 billion recorded in September, according to Forbes.
Trump's net worth had climbed by $3 billion over the past year, pushing him to 201st on the Forbes 400—a jump of 118 places from 2024. The surge was driven largely by the Trump family's crypto holdings, including their World Liberty Financial venture, which attracted a $75 million investment from crypto entrepreneur Justin Sun.
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Rising Legal Costs, Crypto Slide Erode Wealth
The decline in Trump’s net worth is closely tied to the performance of his tech company and the cryptocurrency market. TMTG stock slumped 34.79% over the past month and closed at $10.31 on Friday, as per Benzinga Pro.
Earlier this month, Trump Media posted a deeper third-quarter loss and lower revenue as soaring expenses, especially legal costs, continue to strain the company. Revenue fell 3.8% to $972,900, while net loss widened to $54.8 million from $19.2 million a year earlier. The company's outlook remains tightly tied to user engagement on Truth Social, Trump's primary communication platform.Meanwhile, Trump Media lost nearly $364 million on its Bitcoin (CRYPTO: BTC) holdings due to a recent 28% drawdown in cryptocurrency’s value below $90,000. As of September end, Trump Media held 11542 bitcoins worth nearly $1.37 billion, according to the quarterly filings. Today, their value has slumped to just over $1 billion. In addition to its Bitcoin stake, Trump Media reported holding about $146 million in Cronos, another cryptocurrency whose value has nearly fallen by half since September.
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This article Trump is Losing Money originally appeared on Benzinga.com
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