The paper fortune that former President Donald Trump amassed by taking a nascent media startup public is shriveling, and a race to the exits that begins as soon as Sept. 19 could shrink it even more.
Trump Media & Technology Group Corp., which owns the X-lookalike social media platform Truth Social, has shed nearly $6 billion in value over the past four months. Meanwhile, its largest shareholders have been unable to sell because of a lockup agreement from when the firm went public through a special-purpose acquisition company merger in March.
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