What is Trump’s net worth now? Ex-POTUS' fortune nosedives after Kamala Harris announces presidential bid

PALM BEACH, FLORIDA: Former president Donald Trump’s financial stake in Truth Social, his go-to social media platform, has seen a dramatic decrease.

Since Vice President Kamala Harris announced her candidacy for the White House on July 21, the value of Trump’s investment in Truth Social’s parent company, Trump Media & Technology Group, has fallen by $900 million.

The company’s share price has dropped about 23% in this period, exacerbated by a broader market downturn on Thursday, August 1.

Trump Media's valuation decline and stock fluctuations

Before President Joe Biden exited the 2024 race and endorsed Kamala Harris, Donald Trump’s stake in the company was valued at over $4 billion as of July 19. However, this value has since plunged to around $3.1 billion, CNN reported. 

The decline is partly attributed to the competitive nature of the upcoming election, with national and battleground state polls indicating a close race between Trump and Harris. The stock of Trump Media & Technology Group has turned into a speculative asset for traders betting on Trump’s potential return to the presidency, which could elevate Truth Social as a primary communication platform.

In recent months, Trump Media’s stock has experienced volatility. In June, the stock saw a brief surge following President Biden’s poor performance in a debate. Additionally, there was another spike in July after Trump survived an assassination attempt in Pennsylvania.

Truth Social has struggled to gain a solid foothold in the social media landscape. According to media analysis, the platform’s audience numbers have been among the worst since its inception. In June, Truth Social had just over 2.11 million unique visitors, representing a 38% drop from the same period last year.

This marked the third consecutive month of decreasing traffic, with June’s figures being the second-lowest since June 2022, when the platform had 1.8 million visitors. At its peak during its launch in February 2022, Truth Social attracted more than 3.2 million visitors.

Howard Polskin of media monitoring firm TheRighting, who analyzed Comscore data, commented on this trend. “The diminishing audience levels for Truth Social suggest a rejection of the harsh rhetoric expressed by the ex-president and his political allies that is one of the hallmarks of the two-year-old platform," he told The Guardian.

“If this softness persists, it might portend trouble for Mr Trump at the ballot box in November,” Polskin added.

Despite these challenges, Trump Media continues to push for growth. Earlier this month, the company announced its first significant acquisition—technology to enable TV streaming on Truth Social.

One of the companies involved in this deal is JedTech LLC, a Louisiana-based firm controlled by James E Davison, a major Republican donor, ProPublica reported.

Is Trump Media a 'meme stock'?

Since its public debut in late March, Trump Media’s share price has shown extreme volatility. Some experts argue that Trump Media operates more like a “meme stock,” driven by hype and momentum rather than solid business fundamentals.  

What is Donald Trump's net worth now?

Donald Trump, as the central figure of the company, holds 114.75 million shares and serves as the chairman and most popular user on Truth Social. Despite the recent selloff, Trump Media is still valued at $5.1 billion, with Donald Trump’s net worth estimated to be at $5.9 billion by Bloomberg.

Some market analysts have raised concerns about the company’s valuation, suggesting it is significantly overvalued. This is due to its minimal revenue generation compared to other companies.

For instance, Trump Media’s market value is more than double that of JetBlue, despite JetBlue generating 2,300 times more revenue last year compared to Trump Media’s $4.1 million.

Polling data indicates tight race between Donald Trump and Kamala Harris

Recent polling data shows a neck-and-neck race between Vice President Kamala Harris and former president Donald Trump in several critical swing states.

Surveys conducted by Public Opinion Strategies for the Competitiveness Coalition indicated that Harris leads Trump in Pennsylvania (48% to 45%) and Wisconsin (48% to 46%), while the two are tied at 45% in Michigan. Trump, however, holds a slight edge over Harris in Nevada and Arizona by one and three percentage points, respectively.

The poll, conducted between July 23 and 29, involved 400 respondents from each battleground state, with a margin of error of ±2.19%.

Despite 57% of those polled disapproving of President Joe Biden’s performance, a notable number expressed support for Harris. Across the five states, both Trump and Harris received 46% of the vote. Key issues for voters included inflation, border security, threats to American democracy, and abortion.