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Donald Trump saw almost £300m of his fortune vanish yesterday when shares in his social media group plummeted following the first presidential debate with Kamala Harris.
Trump Media & Technology Group, which is behind the former Republican president’s Truth Social platform, fell nearly 18% as investors decided Harris won Tuesday night’s contest.
Trump launched Trump Media in 2022 to rival what he called the “liberal media consortium”
His stocks tend to rise and fall as his chances of being elected fluctuate. A victory for Trump, 78, is seen as positive, as it is likely to drive traffic to Truth Social and users to sign up to hear his opinions.
Trump launched Trump Media in 2022 to rival what he called the “liberal media consortium.”
The group went public on Wall Street in March and his 57% stake constitutes a large part of his personal fortune.
Shares hit $79.38 on their debut, valuing the stake at £7 billion, but fell to $15.30 yesterday, a loss of £293 million, leaving it valued at £1.35 billion.
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