Outside investors in Trump Media & Technology Group, the owner of Truth Social, have lost more than $2.2 billion, according to a Reuters analysis published on November 6, 2026. The company's shares closed at a record low of $4.02 on November 5, having fallen 32% since the midterm elections. The stock trades on Nasdaq under the ticker DJT.
Trump Media losses: key numbers
- Investor losses: more than $2.2 billion, per Reuters' estimate based on shares sold to investors since 2021
- Share price: $4.02 at the close on Thursday, November 5, a record low
- Since the midterms: down 32%
- Trump's stake: 114.75 million shares, worth about $460 million, down from a paper value of more than $6 billion at the peak
- Revenue: roughly $4 million a year for three years
How Reuters Calculated the $2.2 Billion Loss
The Reuters analysis, republished by NBC News, estimated how much money outside investors put into Trump Media shares since 2021, adjusted for buybacks, against what those shares are worth now. Three finance professors who reviewed the method called it the generally accepted way to measure investor gains and losses.
Trump Media disputes the methodology. It says it has a "strong balance sheet" and points to its proposed merger with TAE Technologies, a nuclear fusion company.
Trump's Stake
Donald Trump holds 114.75 million Trump Media shares. He received them in 2024, without paying cash, as part of the company's merger with the blank-check company Digital World Acquisition Corp. At the November 5 close, his stake was worth about $460 million, compared with more than $6 billion on paper at the stock's high. The Trump family invested little or none of its own money in the company, according to securities filings cited by Reuters.
Trump Media's Business
- Revenue: flat at about $4 million a year for three years, according to Reuters.
- Truth Social: generated $630,000 in revenue from August 2024 through June 2026, after more than $200 million in spending, Reuters reported.
- Bitcoin: the company bought bitcoin near the crypto market's peak, before a steep fall in prices.
- Fusion merger: Trump Media has proposed a merger with TAE Technologies, a nuclear fusion company, which it points to as a source of future value.
Retail Investors' Losses
Reuters spoke to individual investors who bought in heavily. An Austin, Texas, investor said he put 20% of his net worth into the stock and is down 88.5%. A California retiree bought shares at prices as high as $53.54. A Colorado nurse who bought at an average of $45.32 faces a loss of about $28,000.
Some retail investors have blamed "naked short selling", a practice where traders sell shares they have not borrowed. Reuters found no evidence of it, and analysts said short interest in the stock is below average for companies of its size.
Why the Stock Fell After the Midterms
Trump Media shares fell 32% after the November 3 midterm elections, in which Democrats won control of both chambers of Congress. The stock's value has often moved with Trump's political fortunes rather than its business results. The decline also came during a broad market sell-off, covered in our report on the Nasdaq's correction.
The Wider Picture
Investors in four Trump-backed crypto projects lost a combined $2.3 billion through April, according to an earlier Reuters report. A Reuters/Ipsos poll found that most Americans believe Trump's business interests have influenced his decisions, including almost half of Republicans and 69% of independents.
FAQs
How much have Trump Media investors lost?
More than $2.2 billion, according to a Reuters analysis. Trump Media disputes the methodology.
What is Trump Media's stock price?
It closed at a record low of $4.02 on November 5, 2026. Prices change daily, so check a live quote for DJT.
How much is Trump's stake worth?
About $460 million at the November 5 close, down from more than $6 billion on paper at the peak.
Checked on November 9, 2026, against Reuters' analysis as published by NBC News. Figures are Reuters estimates, and Trump Media disputes them. This article is for information only and is not investment advice.