Trump Media Suffers Major Financial Losses in 2024

In 2024, President Donald Trump's net worth saw significant fluctuations, according to estimates by Forbes. On November 4, his net worth was estimated at approximately $5.6 billion, which increased to about $6.1 billion by December 23.

Real estate continues to be a substantial part of Trump’s wealth, but a significant contributor in recent years has been Trump Media & Technology Group, the parent company of his social media platform, Truth Social.

The value of Trump Media has changed over time, directly impacting Trump's overall net worth. Reports from CBS News indicate that Trump Media experienced considerable financial difficulties in 2024.

CBS News states that "Trump Media says it lost more than $400 million last year while revenue dropped 12 percent to $3.6 million." The company, which released its earnings report on February 14, attributes its annual loss to significant non-cash expenses, including $107.4 million in stock-based compensation and a $225.9 million accounting loss tied to changes in the fair value of derivative liabilities.

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Interestingly, after winning the 2024 election, Trump transferred all of his shares in Trump Media & Technology Group — valued at around $4 billion on paper — into the Donald J. Trump Revocable Trust.

CBS News reported that Trump’s shares represented more than half of the company's stock. The trust's sole trustee is Donald Trump Jr., the eldest of Trump's five children. He holds exclusive voting and investment power over all securities owned by the trust.

In an effort to diversify, Trump Media & Technology Group has been branching into new areas. According to CBS News, the company has recently launched a streaming service and has applied for trademarks related to a new line of exchange-traded funds (ETFs) and separately managed accounts.

Devin Nunes, the CEO of Trump Media, emphasized the aim to create investment opportunities focused on American energy and manufacturing. He described these offerings as a "competitive alternative to the woke funds and debanking problems that you find throughout the market," CBS News elaborated.

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Read the full CBS News article at this link.

Trump, Media, Finance