US midterm elections 2026: Democratic sweep erases $73 million from Trump’s net worth
The midterm sell-off arrives during an already challenging financial stretch for Trump Media. The company reported a net loss of $238.1 million for the second quarter of 2026 against just $1.7 million in revenue, driven heavily by unrealised losses on digital holdings and legal fees.
- Nov 5, 2026,
- Updated Nov 5, 2026 9:37 AM IST
President Donald Trump’s personal fortune suffered an immediate blow following a decisive Democratic sweep in the US midterm elections, sending market shockwaves through public companies and speculative digital assets closely tied to his political identity.
Shares in Trump Media & Technology Group (TMTG), the parent entity behind social network Truth Social, tumbled sharply as markets opened, wiping an estimated $73 million off Trump’s paper net worth in early trading. The sell-off marks a stark reaction from investors adjusting to a rebalanced political landscape, with Democrats reclaiming control of both the House of Representatives and the Senate.
Market volatility hits political assets
Trading on Wall Street underlined how deeply Trump-branded ventures track his political trajectory:
- Trump Media & Technology Group (DJT): Shares plummeted by over 11% to reach a record intraday low of $5.23 per share, erasing previous session gains and extending a volatile year for the stock, which is down over 55% year-to-date.
- Crypto holdings: Digital tokens tied to World Liberty Financial (WLFI) — the crypto venture launched alongside his family — faced downward pressure as broad market interest in election-themed tokens retreated.
- Broader corporate impact: The election results also reverberated across major corporate allies; shares of Tesla and SpaceX — led by prominent Trump donor Elon Musk — declined as Wall Street factored in potential legislative oversight from incoming Democratic committee chairs.
Fundamentals under scrutiny
The midterm sell-off arrives during an already challenging financial stretch for Trump Media. The company reported a net loss of $238.1 million for the second quarter of 2026 against just $1.7 million in revenue, driven heavily by unrealised losses on digital holdings and legal fees. Furthermore, web traffic to Truth Social declined approximately 30% year-over-year as of September.
Despite the single-day market drop, wealth tracking by Forbes places Trump’s total valuation at approximately $6.5 billion. The vast majority of his fortune remains anchored in unlisted commercial real estate assets, golf courses, and resort properties, shielding his overall net worth from broader equity market swings.
Addressing supporters and media following the election calls, Trump attributed the Republican losses primarily to his absence from the voting ticket, declaring on Truth Social: "I wasn't on the Ballot and if I was, we would have won IN A LANDSLIDE!"
However, in subsequent comments, Trump confirmed he accepts the election outcomes and signaled a willingness to work alongside the incoming Democratic leadership to navigate upcoming statutory budget negotiations.
President Donald Trump’s personal fortune suffered an immediate blow following a decisive Democratic sweep in the US midterm elections, sending market shockwaves through public companies and speculative digital assets closely tied to his political identity.
Shares in Trump Media & Technology Group (TMTG), the parent entity behind social network Truth Social, tumbled sharply as markets opened, wiping an estimated $73 million off Trump’s paper net worth in early trading. The sell-off marks a stark reaction from investors adjusting to a rebalanced political landscape, with Democrats reclaiming control of both the House of Representatives and the Senate.
Market volatility hits political assets
Trading on Wall Street underlined how deeply Trump-branded ventures track his political trajectory:
- Trump Media & Technology Group (DJT): Shares plummeted by over 11% to reach a record intraday low of $5.23 per share, erasing previous session gains and extending a volatile year for the stock, which is down over 55% year-to-date.
- Crypto holdings: Digital tokens tied to World Liberty Financial (WLFI) — the crypto venture launched alongside his family — faced downward pressure as broad market interest in election-themed tokens retreated.
- Broader corporate impact: The election results also reverberated across major corporate allies; shares of Tesla and SpaceX — led by prominent Trump donor Elon Musk — declined as Wall Street factored in potential legislative oversight from incoming Democratic committee chairs.
Fundamentals under scrutiny
The midterm sell-off arrives during an already challenging financial stretch for Trump Media. The company reported a net loss of $238.1 million for the second quarter of 2026 against just $1.7 million in revenue, driven heavily by unrealised losses on digital holdings and legal fees. Furthermore, web traffic to Truth Social declined approximately 30% year-over-year as of September.
Despite the single-day market drop, wealth tracking by Forbes places Trump’s total valuation at approximately $6.5 billion. The vast majority of his fortune remains anchored in unlisted commercial real estate assets, golf courses, and resort properties, shielding his overall net worth from broader equity market swings.
Addressing supporters and media following the election calls, Trump attributed the Republican losses primarily to his absence from the voting ticket, declaring on Truth Social: "I wasn't on the Ballot and if I was, we would have won IN A LANDSLIDE!"
However, in subsequent comments, Trump confirmed he accepts the election outcomes and signaled a willingness to work alongside the incoming Democratic leadership to navigate upcoming statutory budget negotiations.