You are currently viewing Donald Trump’s Wealth Now Hinges on Trump Media

Mr. Trump has treated Trump Media, which runs his social network Truth Social, as a low-cost sideshow. Now a big portion of his wealth hinges on its success.

At Mar-a-Lago on a Wednesday evening last month, Donald J. Trump mingled with partygoers, greeting his supporters and making small talk. The country star Lee Greenwood sang “God Bless the U.S.A.,” and the former president’s oldest son, Donald Jr., gave a speech.

The elder Mr. Trump was presiding over a cocktail reception for about 150 guests to celebrate the public debut of Trump Media & Technology Group, the parent company of his social media app, Truth Social. Trump Media’s share price had soared in its first day of trading, adding billions of dollars to Mr. Trump’s wealth.

But the party was far from lavish. Guests munched on cookies emblazoned with the letters DJT, the company’s stock symbol. They were invited via the free Paperless Post

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