Trump takes 300m hit as Truth Social shares tank [Video]

Donald Trump saw almost €350m wiped off his fortune on Wednesday as shares in his social media group tumbled after the first presidential debate with Kamala Harris.

Trump Media & Technology Group, which is behind the former Republican president’s Truth Social platform, fell almost 18% as investors decided Harris won Tuesday night’s head-to-head.

Its shares tend to rise and fall as his chances of being elected fluctuate. A victory for Trump, 78, is seen as good, as it is likely to drive traffic to Truth Social with users signing up to hear his views.

Trump launched Trump Media in 2022 to rival what he called the “liberal media consortium”. The group went public on Wall Street in March and his 57% stake forms a large chunk of his personal fortune.

The stock hit $79.38 on its debut, valuing the stake at €8.3bn, but fell as low as …