Trump's Media Empire Suffers Amidst Legal Woes

Former President's Stake Plummets

Shares Drop Significantly After SEC Announcement

Trump Media Technology Group Corp. (TMTG), the media company majority-owned by former President Donald Trump, has experienced a significant decline in its market value following the announcement of a Securities and Exchange Commission (SEC) investigation into the company's financial practices.

Trump's stake in TMTG, which primarily operates the Truth Social social media platform, is now reportedly worth approximately half of its value prior to his legal troubles. The decline in his ownership has been attributed to the ongoing investigation, which is examining potential violations of federal securities laws.

In late April, Trump's stake in TMTG increased significantly after the company announced a merger with a blank-check acquisition firm. However, the announcement of the SEC investigation has sent TMTG's shares plummeting, raising concerns about the company's long-term viability.