With the glow of owning the cult leader’s new stock wearing off and institutional investors nowhere to be found, Donald Trump took a hit of more than $1 billion in “paper value” after the Trump Media and Technology Group stock fell more than 21% in Monday trading.
The owner of 78.5 million shares, the presumptive GOP presidential nominee say his eponymous company drop more than thirteen points on Monday, closing at $48.66, a loss of $1.044 billion. Overall, the NASDAQ Composite closed up 0.11%, at 16,396.83 on Monday. Of course, Trump’s wealth with this stock is vapor: the true value of his shares is what someone is willing to pay Trump for them, and when he has his fire sale to raise cash, the value will plummet.