Trump's fortune plummets following historic felony conviction

Palm Beach, Florida - Donald Trump reportedly lost millions of dollars in stock following his historic felony conviction, causing his net worth to drop dramatically.

Following his historic felony conviction in the hush money trial, Donald Trump lost millions as the markets closed on Friday.
Following his historic felony conviction in the hush money trial, Donald Trump lost millions as the markets closed on Friday.  © Tolga Akmen / AFP

According to The Guardian, stock for the former president's Trump Media & Technology Group ended Friday down 5.3% on the market, which caused Trump's fortune to also drop from $6 billion to $5.6 billion after the markets closed.

The massive hit came after a jury found Trump guilty of all 34 felony charges on Thursday in his hush money criminal trial in New York.

Trump Media is the parent company of Trump's Truth Social platform, which went public on the market in March under the ticker DJT.

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The stock initially boomed as it quickly became a "meme" stock, or a stock that sees a rapid rise in popularity because of social media.

As Trump owns 57.3% of Trump Media shares, his supporters have flocked to invest in the stock in the belief that it would be used to help Trump pay his mounting legal fees as he fights several court battles while running for re-election.

The stock has been performing unpredictably ever since, at times seeing massive losses.

Despite the DJT stock's iffy performance, the Trump campaign still managed to raise over $35 million in small-dollar donations after the conviction.

Cover photo: Tolga Akmen / AFP

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