In the final days before the November 5 election, shares of Trump Media & Technology Group Corp (Nasdaq: DJT) - the company that operates the social network Truth Social founded by Donald Trump - fell sharply, losing a total of nearly 44%. DJT's stock price fell from over $54 on October 29 to $30.56/share at 8:40 p.m. on November 4 (Vietnam time).

DJT's total capitalization also fell sharply, down to $6.1 billion, from $10.8 billion.

Mr. Trump owns 65% of Trump Media shares, so the former US president's personal assets, calculated according to DJT alone, have just evaporated by more than 3 billion USD, from more than 7 billion USD to less than 4 billion USD.

However, Mr. Trump has many other assets, including the Trump Organization, which, according to documents released during the election campaign, is made up of more than 500 different companies.

Mr. Trump's assets were built over nearly half a century, including a series of real estate projects throughout Manhattan - the economic and commercial center of the United States. That is Trump Tower at 721-725 Fifth Avenue, or Trump World Tower, dozens of golf courses, hotels and many apartment buildings...

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Trump Media shares fluctuated wildly. Source: TDV

According to Forbes, as of November 4, Mr. Trump had a total asset of 5.6 billion USD, ranking 591st in the list of the richest people in the world .

Mr. Trump's assets have fluctuated sharply recently, following the capitalization of Trump Media & Technology Group Corp., up to nearly $10 billion based on the high price of DJT shares at the end of last month.

But Mr. Trump's fortune could plummet along with the decline in Trump Media & Technology Group shares if he fails to win the presidency.

Trump Media shares reflect US presidential election expectations

Trump Media is a business owned by Donald Trump. DJT was founded in 2021 and operates the social network Truth Social, which Trump founded earlier. DJT shares were worth nearly $100 in February 2022.

Trump Media shares have been seen as a barometer of Donald Trump’s prospects recently, reflecting investors’ expectations for the outcome of the US presidential election. The stock has been volatile over the past few months.

Before plunging nearly 44% in the past five sessions, DJT had increased more than fourfold, from a price of more than $12 in the last week of September to over $54/share at the end of October.

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Trump Media is a business of Donald Trump's family. DJT was founded in 2021 and operates the social network Truth Social, which Trump founded earlier. Photo: Investopia

Trump Media shares rose sharply after positive signals for Mr. Trump in the context of billionaire Elon Musk focusing on supporting the former White House owner in the 2017-2020 period. The social network Truth Social is said to develop strongly if Mr. Trump wins the election. Because this billionaire once ignored traditional media, instead using social networks Twitter (now X) and Facebook when he was president.

During his "first term", Mr. Trump used Twitter (X) with 88 million followers to post information from foreign policy, announcements, and important government policies.

Truth Social is expected to see explosive growth if Mr. Trump enters the White House for a second time. At its late October price, DJT had a market capitalization even higher than Elon Musk's social network X.

Mr. Trump's business activities and assets have fluctuated according to the billionaire's political path.

During his campaign, his controversial policies and comments negatively affected the Trump brand. Visits to Trump Organization resorts also declined.

In recent years, Trump Tower has been associated with federal investigations targeting Mr. Trump and protests for/against Mr. Trump when the former US president was under criminal investigation. Recently, Mr. Trump's assets have continuously fluctuated according to the development of the race to the White House, from failed assassination attempts to support rates according to surveys...

A few days before the November 5 election, some polls show that US Vice President Kamala Harris has a slightly higher chance of winning than Mr. Trump. Investors are waiting for the final results.

In the second quarter of 2024, DJT announced a loss with low revenue, less than 1 million USD. Facebook and X have hundreds of times more users than Mr. Trump's Truth Social.

Focusing on supporting Donald Trump, what does Elon Musk worry about his $247 billion fortune? Elon Musk suddenly switched to supporting Donald Trump after the former US president was assassinated. Once very worried that Tesla would be at a disadvantage if Mr. Trump won the election, so what does Elon Musk worry about about his fortune that he no longer supports the Democratic Party?