Trump Media investors may lose over $2.2 billion, while Trump's stake is still worth $460 million.

BlockBeats news, November 8 - According to Reuters, based on company filings and court records, external investors in Trump Media & Technology Group (DJT) have collectively lost more than $2.2 billion. The estimate compares the issuance and sale prices of various batches of shares with current prices, adjusts for the impact of share buybacks, and uses a mark-to-market approach rather than tallying individual investors' realized trading losses.

Trump Media disputed this calculation method, saying it distorts facts, market dynamics, and the company's public filings, but did not specify the flaws in the calculation method. Company General Counsel Scott Glabe said that millions of shares trade on the public market every day, making it impossible to know whether each seller ultimately made a profit or loss. Reuters said its method was reviewed by three finance professors and is considered a common way to assess investment gains and losses.

Trump holds 114.75 million Trump Media shares, still worth about $460 million. These shares were acquired in 2024 when the company completed its SPAC merger with Digital World Acquisition, without paying cash. When the stock price was near its high, the position's book value once exceeded $6 billion.

Operationally, Trump Media's annual revenue over the past three years has remained basically around $4 million, its social media business has still not visibly scaled up, and the decline in the value of its crypto asset investments has also brought pressure. Regulatory filings show the company invested more than $200 million to build the Truth Social streaming service, but from its launch in August 2024 to the end of June 2026, the service generated only about $630,000 in revenue. In addition, the company bought Bitcoin near a price high and subsequently suffered a significant pullback.

Reuters interviewed more than ten Trump Media shareholders. Among them, an investor who put 20% of personal net worth into the stock provided account information showing an investment loss of 88.5%. Since the midterm elections, the company's stock price has fallen 32% cumulatively. Trump Media emphasized that the company has built a strong balance sheet and is focused on creating shareholder value, including advancing its proposed merger with nuclear fusion company TAE Technologies.