Key Points
(Bloomberg) -- Donald Trumps net worth tumbled by $1 billion along with the shares of his social media business after it disclosed a more than $58 million loss in 2023, as revenue for the former presidents Truth Social platform trickled in..
Trump Media & Technology Group Corp.s stock fell 21% Monday to $48.66 per share, below the $49.95 level where the blank-check vehicle it merged with was trading a week ago..
Trump owns 57% of the company, according to the filings with the US Securities and Exchange Commission, with his stake now worth $3.76 billion on paper..
Unlike traditional social-media companies that tout metrics like active users or revenue per user, Trump Media believes that adhering to traditional key performance indicators" could divert its focus from strategic evaluation with respect to the progress and growth of its business," according to the prospectus..
Trumps media company debuted last week after the closing of the merger with Digital World Acquisition Corp. brought in more than $275 million of much-needed cash..
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