Economy

Trump is “impoverished” by $1.1 billion

US President Donald Trump’s net worth has decreased by $1.1 billion since September of this year and amounts to $6.2 billion.

This was reported by Forbes magazine, "Komersant Ukrainian" reports.

According to Forbes, the reduction was due to a decline in the value of Trump Media & Technology Group shares, which were trading at around $17 in September. Currently, one share of the company can be bought for $10.3.

The American leader is ranked 595th in the Forbes billionaire ranking.

Since returning to the White House, U.S. President Donald Trump and his family have been making billions from cryptocurrency companies and benefiting from a market he has actively shaped and that has little regulation.

The Trump family’s crypto profits are secured by two companies. One of them is called World Liberty Financial (WLF), which is a decentralized financial platform where users can participate in the formation of lending rules using $WLFI tokens. The other is American Bitcoin Corp. (ABTC), a bitcoin mining company registered on the Nasdaq electronic stock exchange. WLF has earned millions by selling $WLFI tokens associated with Trump’s name, while ABTC, which is backed by his sons, has significant bitcoin assets.

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