Trump assets plunge as Democrats win midterms

Donald Trump’s financial position suffered a sharp decline on Wednesday morning. This drop followed the Democratic victory in the midterm elections held on Tuesday.

Shares of Trump Media and Technology Group, listed on Nasdaq, traded at just over $5.00. This price represents the lowest point in the company's history. The stock had reached an all-time high of $101 previously. It fell 11% from the closing price of $5.90 recorded as election returns began to arrive.

The president holds 114 million shares of the company. He controls more than 40% of the stock through a trust structure. Despite the recent losses, his total wealth has increased substantially since taking office. Forbes estimated in September that he is $2.7 billion richer than when he won the White House in 2024.

Digital assets associated with the Trump family also declined. World Liberty Financial tokens dropped to less than 5 cents each. These coins were valued at 31 cents at their peak in 2025. The value had been slipping since late October, a trend accelerated by a hack at Binance and the approaching election date. A steep drop occurred around 7 p.m. ET on Tuesday as polls in several states closed.

Trump sold crypto assets for a profit exceeding $500 million last year, according to his personal financial disclosures. He still owns 15 billion tokens. World Liberty Financial is a joint venture between the Trump family and the family of Steven Witkoff. Witkoff, a real estate developer and personal friend of the president, was appointed to negotiate diplomatic arrangements regarding Gaza, Iran, and Ukraine.

Jim Angel, an associate professor at Georgetown University’s McDonough School of Business, said the value of these assets is tied to public perception of Trump. “People think they’re investing in Trump. They really aren’t. They’re really betting on his popularity. That’s what they’re betting on,” Angel said. “Right now his popularity is at record lows,” he added, “and so we see the price of DJT and World Liberty at record lows.”

Separate novelty coins branded as $Trump have also lost value. They are now priced at about $1.40, down about 10% overnight. These coins generated $636 million in sales for the president in 2025. They launched shortly before his inauguration and briefly traded as high as $45 in January 2025. The administration recently granted World Liberty Financial a banking license to issue stablecoins, which remain pegged to the US dollar.