President Donald Trump’s estimated net worth fell by millions on Wednesday as Trump Media & Technology Group (NASDAQ:DJT) tumbled following the midterm election results.
The stock plunged 24.54%, closing at $4.49, slightly above the 52-week low mark of $4.46, after Democrats scored sweeping victories in the midterm elections.
Forbes estimates Trump’s net worth at $6.4 billion, down $168 million, with much of his wealth tied to real estate. He ranks 623rd among the world’s richest people.
The decline in net worth largely stems from Trump’s majority stake in Trump Media & Technology Group, held through the Donald J. Trump Revocable Trust, with Donald Trump Jr. serving as trustee and overseeing voting and investment decisions. Trump is the sole beneficiary of a revocable trust holding about 114.75 million DJT shares, equivalent to about 41% of the company’s outstanding stock, as per the latest SEC filing.
Based on his reported holding, Trump’s stake was worth about $683 million at the November 3 closing price of $5.95. Following Wednesday’s 24.5% plunge to $4.49, the value of his holding fell to around $515 million, wiping out nearly $168 million in shareholder value.
Trump Media’s Post-Election Stock Rout
Trump blamed his absence from the ballot for Republican losses in the 2026 midterm elections, claiming the party would have won “IN A LANDSLIDE” if he had been a candidate. He later said he accepted the results and was willing to work with Democrats. Democrats won control of both chambers of Congress, with voter concerns over rising costs and the Iran war emerging as key factors in the Republican setback.
Economist Peter Schiff said Trump Media shares are down 95% from their 2022 peak. He said “Investor[s] are likely afraid Congress will put a stop to Trump’s using this company to sell market-moving insider information so high-frequency traders can front run retail investors.”
Trump Media Faces Mounting Losses and Declining Truth Social Traffic
Trump Media posted a $238.1 million net loss in the second quarter of 2026, on revenue of just $1.7 million. Meanwhile, traffic to its flagship Truth Social platform fell 30% year-over-year in September, according to Similarweb data cited by The Washington Post.
The company has reportedly signed Bloomberg, Susquehanna International Group and Jump Trading to provide faster access to President Donald Trump’s Truth Social posts through its API. The agreements, finalized in October, offer subscribers quicker delivery of posts for fees of up to $100,000 per month.
The development follows Trump Media’s July launch of Truth API, a real-time feed providing faster access to posts from prominent Truth Social accounts, including those of Donald Trump Jr. and Eric Trump.
Price Action: Year-to-date, DJT stock has declined 66.09%, as per Benzinga Pro. The shares recovered in the after-hours gaining 1.33%.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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