Donald Trump’s net worth has fallen by nearly $2 billion due to his publicly traded media company’s stock market woes over the past two days.

Trump Media & Technology Group, which owns Truth Social and trades under the ticker DJT, fell 11.7% to $35.34 on Thursday.

And that’s on top of the 22 percent drop DJT shares saw on Wednesday.

The stock, which had previously risen more than 24 percent in the days following Trump’s raucous rally Sunday at Madison Square Garden, essentially gave up all of its gains and more.

As The New York Times As the company has reported, declines in this often-volatile stock have hurt its 600,000 shareholders, many of whom are ordinary people who support Trump’s candidacy and use Truth Social.

But it’s Trump himself who regularly experiences the biggest swings in his net worth, as he owns a staggering 115 million shares of Trump Media.

Former President Donald Trump attends a rally he organized Thursday at the Albuquerque International Port in New Mexico.

The stock, which surged more than 24 percent in the days following Trump’s raucous rally Sunday at Madison Square Garden, essentially gave up all of its gains and more.

At the DJT’s intraday high of $54.68 on Tuesday, the former president’s stake was worth nearly $6.3 billion.

After the two-day sales frenzy, that amount fell to just over $4 billion.

It’s unclear what exactly triggered this situation, but DJT has attracted many short sellers, in other words, those who believe the stock will fall.

Part of what spurred the stock’s 200% growth through most of October was the fact that short sellers had to buy more shares to cover their losing bets, according to research group S3 Partners.

S3 Partners also pointed out that DJT’s stock price to some extent reflects the trajectory of Trump’s chances of winning the presidency in the betting markets.

Since Trump owns nearly 60% of the company, if he decided to sell even a small portion of his stake, it would ruin the stock price and, more importantly, the wallets of his most ardent supporters. supporters.

So when a provision barring him from selling his shares expired on September 19, he sought to reassure his fans by vowing that he would not do so.

“A lot of people think the reason (DJT is) down is because a lot of people think I’m going to sell, and if I sell, it’s not going to be the same,” Trump said days before his period ended. confinement. ready to end. “But I have absolutely no intention of selling.”

This chart from S3 Partners shows how DJT’s stock price compares to betting odds on Trump’s chances of winning the election.

Trump Media was created a few weeks after he left the White House in January 2021, but it waited more than three years before going public on the NASDAQ.

The title often closely tracks the positive and negative outcomes of Trump’s business and political efforts.

For example, it fell 9 percent immediately after he was found guilty in his secret trial.

The stock fell 21% in a single trading day in April after financial filings revealed the company lost $58 million in 2023.

Trump only invested a few million dollars when starting the company, meaning that whatever happened, he did extraordinarily well.

Greg Bowden, 66, a Trump supporter and stock owner of Trump Media, told the New York Times that Trump “has no reason to sell.”

Trump’s recent financial setback comes as millions of Americans head to the polls before Election Day, either to return him to the Oval Office or to choose his opponent, Vice President Kamala Harris, for the top job. pupil.

Bowden expressed this opinion in early September, when DJT stock was trading much lower than it is now.

On September 23, four days after Trump was technically allowed to sell DJT, the price reached $12.15.

At this point, Trump’s stake would have been worth nearly $1.4 billion.

Trump’s recent financial setback comes as millions of Americans head to the polls before Election Day, either to return him to the Oval Office or to choose his opponent, Vice President Kamala Harris, for the top job. pupil.

The final DailyMail.com/JL Partners national poll before Election Day showed Trump leading Harris by three percentage points.

The poll of 1,000 likely voters, with a margin of error of plus or minus 3.1 percent, shows Trump trending upward, with 49 percent support to Harris’ 46 percent.