Trump Assets Fall After Midterm Losses

President Donald Trump’s financial portfolio dropped sharply in the days following the midterm elections, reflecting a decline in his political standing.

The most visible loss occurred in Trump Media and Technology Group, a Nasdaq-listed company. Shares fell to just over $5 by Wednesday morning, marking the lowest point in its trading history. This represented a steep decline from the all-time high of $101 and followed an 11% overnight drop after early returns began to emerge. The president holds 114 million shares, accounting for more than 40% of the total stock through a trust.

World Liberty Financial, a digital venture co-founded with the family of Steven Witkoff, also saw a steep drop in value. The company’s governance token, WLFI, fell to less than 5 cents after the election. This was a sharp decrease from its peak of 31 cents in 2025. The decline accelerated around 7 p.m. Eastern Time on Tuesday as polls in several states closed, following a late October slide caused by a Binance hack.

Trump has realized substantial profits from crypto assets, selling over $500 million last year according to personal financial disclosures. He continues to hold 15 billion tokens. Steven Witkoff, a personal friend and real estate developer, was appointed by Trump to negotiate diplomatic arrangements regarding Gaza, Iran, and Ukraine. This appointment further intertwines the venture with the administration’s foreign policy efforts.

Jim Angel, an associate professor at Georgetown University’s McDonough School of Business, noted that the value of these assets is inherently linked to public perception of the president. He explained that while investors believe they are buying into the companies, they are effectively betting on his popularity. Angel observed that with popularity at record lows, the prices of both Trump Media stock and World Liberty tokens have followed suit to their own record lows.

The decline extended to novelty digital coins branded as $Trump. These tokens 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. After losing about 10% of their value overnight as election results solidified, they were priced at approximately $1.40.

A September Forbes analysis estimated that Trump is $2.7 billion wealthier than when he won the White House in 2024. Despite the recent market reaction, World Liberty Financial also issues a stablecoin named USDI1, which is pegged to the US dollar. The Trump administration recently granted the company a banking license, adding a layer of institutional credibility to the venture despite the recent market turbulence.