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By Giulia Carbonaro
Senior Reporter
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President Donald Trump has slipped down Forbes’ list of the world’s real-time billionaires after losing nearly $54 million–or 0.87 percent of his net worth—over the past week, as the stock for his social media company plunged.
Trump Media & Technology Group’s (TMTG) stock price plummeted to a record low of $8.66 a share on Thursday, according to Yahoo Finance data, down from over $20 a year earlier. The company also revealed earlier this month that it lost $712.1 million last year, generating only $3.7 million in revenue.
That is a lot worse than the figures the company reported in 2024, when Trump’s social media group made slightly less ($3.6 million) but lost far less money ($409 million).
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Why It Matters
Since his decision to run in the 2016 presidential election, Trump has centered his political identity on his financial success and his status as a well-known businessman and real estate mogul. In 2015, he boasted about being “really rich,” claiming a fortune of $9 billion, which more than doubled the $4.1 billion estimated by Forbes at the time, and suggesting he would use his financial savviness to make the country rich.
The president’s net worth has reportedly soared since his return to the White House in January 2025, with New Yorker writer David Kirkpatrick stating in an episode of NPR’s Planet Money that Trump has made almost $4 billion dollars “off of the presidency,” in the past year.
What To Know
Earlier this month, Forbes reported that Trump had a net worth of $6.5 billion, up $1.4 billion from a year earlier, and ranked 645th among the world’s 3,428 billionaires. That was up from 700th in 2025, showing that Trump has actually become richer since returning to the White House.
Much of the money the president acquired over the past year came mainly from his crypto dealings, hosting important people at his properties, including Mar-a-Lago, and striking deals in the Middle East.
Trump has gained an estimated $550 million over the past year from sales of crypto tokens issued by World Liberty Financial, a crypto decentralized finance protocol backed by his family and launched in September 2024, Forbes reported.
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Four days before Trump’s inauguration last year, he and his partners in the company sold a 49 percent stake to Aryam Investment, a firm backed by the United Arab Emirates' national security adviser and UAE royal family member Sheikh Tahnoon bin Zayed Al Nahyan, as The Washington Post reported in January. This deal steered nearly $200 million to Trump family entities.
But according to Forbes, Trump’s net worth would be even higher if it were not for a recent decline in crypto prices and the poor performance of his social media group, the parent company of Truth Social. Only in September, the president was worth much more, $7.3 billion.
And his net worth is still shrinking, even if relatively modestly. As of Friday, March 20, Trump ranked 648th in Forbes’ world’s real-time billionaires’ list, having slipped three positions since roughly ten days ago.
What People Are Saying
Forbes executive editor Luisa Kroll and deputy editor Giacomo Tognini wrote in a recent article: “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.”
In a statement reported by the Los Angeles Times, TMTG warned that “the value of TMTG’s brand may diminish if the popularity of President Donald J. Trump were to suffer.”
What Happens Next
It is likely that Trump’s social media group, which has tried to reinvent itself many times over the past year, will continue struggling. In mid-December, TMTG announced a planned $6 billion merger with TAE Technologies, a company developing nuclear fusion that had recently received funding from the Department of Energy.
The deal raised eyebrows as the Trump administration oversees the nuclear industry, and the merger could be seen as a potential conflict of interest for the president, as it would put him in competition, as a major investor, with energy companies regulated by his officials.
It is not yet clear whether the merger will go through.
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