What is Donald Trump’s net worth now after $1bn drop reports? | Personal Finance | Finance
It’s Donald Trump’s birthday, and while details of his celebration haven’t emerged, the former US president might be honoured with a MAGA flotilla during his stay in Detroit this weekend.
But he could very well be throwing a party as extravagant as previous years’, considering his net worth is still in the billions despite his media company suffering a huge tumble last year.
The latest report published by Bloomberg Billionaires Index back in April, estimated that the politician and business tycoon’s net worth dropped by a staggering $1 billion in the past year.
Following Trump Media & Technology Group’s $58 million loses in 2023, Trump’s current net worth is reported to be around $6.4 billion.
While Trump Media faced significant financial losses last year, it did experience an increase in revenue compared to the previous year.
According to Bloomberg, the former president’s company generated $1.5 million in revenue in 2022, which rose to $4.1 million last year.
However, 2021 was a more profitable year for Trump Media, with the company achieving a $50.5 million profit.
But when contrasted with other social media companies, Trump Media’s challenges become more evident.
Last year, Reddit generated $804 million in revenue, and Snapchat’s parent company reported $4.6 billion in sales.
These figures highlight the disparity, as Trump’s TRUTH Social reported around 9 million sign-ups in February, whereas Reddit had 267.5 million weekly active users in the last quarter, and Snap had about 420 million daily active users in the first quarter.
In recent days, Trump has brutally mocked President Joe Biden after the 81-year-old appeared to freeze at a Juneteenth celebration at the White House on Monday.
Biden was filmed standing completely still for around a minute while Vice President Kamala Harris clapped and danced next to him.
Eventually, Philonise Floyd — the brother of George Floyd – put his arm around the President.
Biden then smiled at Floyd and exchanged a fist bump.
Reacting to the bizarre footage, the Trump campaign’s “war room” account posted on X: “Lights are on but no one’s home.”
