Donald Trump's wealth has suffered since he was indicted by a grand jury in Manhattan last month. His net worth fell to $2.5 billion today from $3.2 billion last fall, according to Forbes.
Trump faces charges of possibly offering hush money payments before the 2016 presidential election.
According to Forbes, Trump has lost $550 million on the venture since starting Truth Social in late 2021, according to the indictment on his social media platform.
In December 2021 a group of investors promised to give $1 billion in cash to Truth Social, but only if they got a sweetheart deal. Shares on the open market were trading for $45 at the time.
If shares were above $10, new investors would get a profit.
The Department of Justice, the Securities and Exchange Commission and the Financial Regulatory Agency are looking over the business, including trading activity and communications between the SPAC and Trump's business.
According to Forbes, shares of Trump's SPAC are 92% off their highs, trading at $14 apiece, implying Truth Social's worth today is just $1.2 billion.
The social media platform is adding 100,000 users per month, according to Forbes. Truth Social will not hit its projection of 81 million users until 2086, at this pace.