On Friday, shares of Truth Social owner Trump Media & Technology Group fell 9%, hitting their lowest level since the company went public last week. This selloff has resulted in a loss of nearly $2 billion from former President Donald Trump’s stake in the company this week. Despite criticism from some investors and media outlets, Trump Media continues to prioritize political expression and refuses to suppress viewpoints that contradict certain narratives.
Former President Trump’s personal stake in the company now stands at around $3.3 billion, down from $4.9 billion just last week. Financial disclosures show that Trump Media lost $58 million last year with minimal revenue of $4.1 million, raising concerns over the company’s valuation on Wall Street. Barry Diller, chairman of IAC, labeled Trump Media a “scam” on CNBC and criticized those investing in the stock.
In response to criticism, a Trump Media spokesperson defended the company’s stance on free speech and accused detractors of being “die-hard Trump haters and leftwing flacks.” Despite the negativity surrounding the company, its commitment to preserving free speech and expression may have contributed to its continued popularity among conservative audiences.
