In brief

• Trump Media & Technology Group shares fell about 11% in premarket trading after Democrats won the midterm elections.
• The stock hit its lowest level ever, just over $5, far below its all-time high of $101.
• Forbes estimated Trump's net worth fell by $73 million in the morning and $111 million by afternoon, though he remains about $2.7 billion richer than in 2024.

Trump Media shares slide to record low

Shares of Trump Media & Technology Group, which trades on the Nasdaq, dropped about 11% overnight, falling from $5.90 as midterm returns came in. By Wednesday morning the stock was priced at just over $5, its lowest level since it began trading, and far below its all-time high of $101 (Trump’s wealth dented after Democrats trounce Republicans in midterms – The Guardian). Later in the day the decline deepened, with the shares down 21% at one point (Potężny spadek notowań firmy Trumpa. Akcje rekordowo tanie – Money.pl).

Presidential wealth takes a hit

The slide weighed on Donald Trump's personal fortune. Forbes estimated his net worth had fallen by $73 million by Wednesday morning (Trump Loses $73 Million After Democratic Midterm Sweep As Trump Media Stock Plummets – Forbes), and later by $111 million as of the afternoon (Trump Sheds Over $100 Million From Fortune After Democratic Midterm Sweep As Trump Media Stock Plummets – Forbes). Trump has reported owning 114 million shares of the company, and more than 40% of the stock is held through a trust.

Other assets tied to the president also fall

Tradeable assets connected to Trump also lost value after the Republican defeat. A cryptocurrency linked to his family's business, the WLFI coin, declined as well. Despite the losses, Trump remains substantially richer than he was when he won the 2024 election. Forbes estimated in September that his wealth had grown by about $2.7 billion over that period.

Context from the election

The market reaction followed a wave of Democratic victories in the midterm elections, which dealt a defeat to the Republican Party in Congress. The timing linked the fall in Trump-related assets directly to the political results, with investors reacting to the vote before the regular trading session opened (Trump Media Stock Plummets 11% In Premarket Trading After Democratic Midterms Sweep – Forbes).