DJT stock crash wipes $2.4 billion from Donald Trump’s fortune

He owns most of its stock, which trades under the symbol DJT, and the stock has been a barometer of the former president’s prospects this election cycle. He skyrocketed as the polls began to tilt throughout most of October.

On Tuesday, the stakes were so high that Trump Media’s market capitalization reached $10.8 billionsurpassing Elon Musk’s social media platform X, which has a estimated value at 9.4 billion dollars.

But the next day DJT shares have started to sell offwith such extreme volatility that trading was halted several times. By the end of the session, the stock was down 22%, marking its biggest one-day decline since Trump Media went public in March.

Shares fell 12% on Thursday and 14% on Friday, capping a 41% decline in just three days. That means the value of Trump’s holdings went from $5.9 billion to $3.5 billion over that period, resulting in a drop in net worth of $2.4 billion. according to CNN.

The The turning point may have been Trump’s Madison Square Garden rally on October 27, when comedian Tony Hinchcliffe called Puerto Rico “a floating island of garbage in the middle of the ocean,” sparking a huge backlash.

The rally, which featured other divisive speakers and remarks, was such a disappointment that it may have reversed Kamala Harris’ political fortunes and handed her the White House, according to Thomas Miller, a data scientist at Northwestern University , who built an electoral model.

Failure to return to the presidency could prove especially costly for Trump and the value of his social media company. If “Trump loses, I think eventually it will go to zero,” Matthew Tuttle, CEO of Tuttle Capital Management, said wealth last month.

But even in the worst-case scenario, Trump will still be a billionaire, albeit a diminished one. Before the sale, his net worth was between $7.5 billion and $10 billion, according to the data appraisal FROM Wall Street Journal.