Donald Trump’s Net Worth Falls By $1B

Shares of former US president, Donald Trump’s social network ‘Truth Social’ have dropped drastically after the company disclosed that it lost more than $5M and generated very little revenue in 2023.

Recall that Trump is the company’s majority shareholder, and his net worth tumbled by more than $1B as a result.

In a regulatory filing on Monday, Trump Media revealed that it lost $58.2M in 2023, compared with a profit of $50.5M in 2022.

The Truth Social owner generated just $4.1M in revenue, although that was up from $1.5M in 2022.

WOW.

Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.

Trump graduated from the University of Pennsylvania with a bachelor’s degree in economics in 1968. He became president of his father’s real-estate business in 1971 and renamed it the Trump Organization. He expanded its operations to building and renovating skyscrapers, hotels, casinos, and golf courses and later started side ventures, mostly by licensing his name. From 2004 to 2015, he co-produced and hosted the reality television series The Apprentice. He and his businesses have been plaintiff or defendant in more than 4,000 state and federal legal actions, including six business bankruptcies.

Donald John Trump was born on June 14, 1946, at Jamaica Hospital in Queens, New York City, the fourth child of Fred Trump, a Bronx-born real-estate developer whose parents were German immigrants, and Mary Anne MacLeod Trump, an immigrant from Scotland. Trump grew up with older siblings Maryanne, Fred Jr., and Elizabeth and younger brother Robert in the Jamaica Estates neighborhood of Queens, and attended the private Kew-Forest School from kindergarten through seventh grade.