Donald Trump has a reported net worth of over $2 billion. That’s more money than 99 percent of people will make in their life (“but at least we haven’t been indicted,” we say in the mirror to make ourselves feel better). But Trump used to be worth a lot more, until he hitched his wagon to a money-bleeding social media platform that’s mainly used as fodder for late-night hosts.
Forbes reports that the former president’s fortune has dropped from $3.2 billion last year to $2.5 billion today. “The fundamental problem is that barely anyone uses Truth Social. Before it launched, an investor presentation suggested the app would attract 81 million users by 2026,” it reads. “Now, over a year after going live, it has only an estimated 5 million.”
Given that Trump owns roughly 85 percent of the business, [the] former president’s stake probably adds up to about $180 million today. Even that might be too much. Truth Social is adding an estimated 100,000 users per month. If people continue to join at the current pace—and assuming that no one quits or dies—Truth Social will not hit its projected 81 million users until 2086. By that point, Trump would be 140 years old. A more likely outcome: Truth Social will join Trump Steaks, Trump University and GoTrump.com in the graveyard of failed Trump ventures.
“I’m proud of my net worth, I’ve done an amazing job,” Trump once said. “The total is $8,737,540,000.” Is he still proud now?
(Via Forbes)