President Donald Trump has watched his net worth plunge to what analysts are calling an all-time low point in recent months, as his social media company continues to bleed money at a staggering rate. The president slipped further down Forbes’ real-time billionaires list this week, losing nearly $54 million in just seven days. That loss represents 0.87 percent of his total net worth, a number that is hard to ignore.
The trouble is centered almost entirely on Trump Media and Technology Group, the parent company of his social platform Truth Social. The stock hit a record low of $8.66 per share on Thursday, according to Yahoo Finance data. Just a year ago, the same stock was trading at over $20 per share.
The financial picture inside the company is even more concerning. TMTG revealed earlier this month that it lost $712.1 million last year while generating only $3.7 million in revenue. For context, the company lost $409 million in the prior year while bringing in $3.6 million, meaning losses nearly doubled while revenue barely moved.
Trump built his entire political brand on the idea that he was a financial genius. Since entering the 2016 presidential race, he made his wealth a centerpiece of his public identity, presenting himself as a successful businessman who could bring that same skill to running the country. In 2015, he claimed a personal fortune of $9 billion, more than double the $4.1 billion that Forbes estimated at the time.
The irony is that Trump’s overall net worth has actually grown since returning to the White House. Forbes reported earlier this month that his net worth stood at $6.5 billion, up $1.4 billion from a year earlier. He ranked 645th among the world’s 3,428 billionaires, climbing from 700th the previous year.
Much of that growth came from sources far outside traditional business. Trump gained an estimated $550 million from crypto token sales through World Liberty Financial, a decentralized finance platform backed by his family and launched in September 2024. Hosting high-profile guests at Mar-a-Lago and striking deals in the Middle East also added significantly to his fortune.
One of the most notable deals came just four days before his inauguration. Trump and his partners sold a 49 percent stake in a company to Aryam Investment, a firm backed by UAE royal family member and national security adviser Sheikh Tahnoon bin Zayed Al Nahyan. That single deal steered nearly $200 million directly to Trump family entities, as The Washington Post reported in January.
New Yorker writer David Kirkpatrick, speaking on NPR’s Planet Money, said Trump has made almost $4 billion dollars off of the presidency in the past year alone. That figure raises serious questions about the line between public office and personal financial gain.
Still, Forbes points out that Trump’s net worth would be even higher if not for falling crypto prices and the continued poor performance of his social media group. As recently as September, his fortune stood at $7.3 billion. Since then, it has been on a slow but steady decline.
As of Friday, March 20, Trump ranked 648th on Forbes’ real-time billionaires list, having dropped three positions in roughly ten days. The direction of movement is clear, even if the pace remains gradual.
Forbes executive editor Luisa Kroll and deputy editor Giacomo Tognini captured the situation with sharp clarity in a recent piece.
“Even if Trump’s assortment of new ventures goes to zero, the president will be just fine, having cashed out hundreds of millions before his most loyal investors realized the hollowness of what he’s selling.”
TMTG itself appears aware of how deeply its fate is tied to one man’s public image. In a statement reported by the Los Angeles Times, the company warned that the value of its brand may diminish if the popularity of President Donald J. Trump were to suffer.
Looking ahead, TMTG is trying to find a new path forward. In mid-December, the company announced a planned $6 billion merger with TAE Technologies, a nuclear fusion energy company that had recently received funding from the Department of Energy. The announcement immediately raised conflict of interest concerns, given that the Trump administration directly oversees nuclear energy regulation.
Whether the merger will actually be completed remains an open question. What is not in question is that Trump’s social media bet has so far failed to deliver on its original promise, and investors are paying the price while the president himself remains, for now, comfortably in the billionaire tier.
