Donald Trump loses $532-million after his guilty verdict causes Trump Media stock to plummet

As soon as the guilty Donald Trump became an official criminal today, Trump Media shares tumbled by "as much as 15%," according to CNBC. Or rather, 18.3%, according to The New York Times, who reported that the crash erased "hundreds of millions of dollars from the company's market value … putting a dent in Mr. Trump's majority stake" of 65%.

The volatile company, which owns his Truth Social app, later managed to catch a few wheezy breaths, but was still down by around 9% as of this evening.

And, since the convicted ex-president owns 65% of Trump Media shares, the sudden drop, according to Forbes, "amounts to a $532 million decline in the value" of Trump's crumbling piece of the pie. From Forbes:

Former President Donald Trump, who was found guilty Thursday on 34 felony counts for falsifying records in his New York empire, also is set become a much less rich man Thursday, as shares of the social media company that constitute a majority of his net worth tanked after the jury delivered its verdict.

Shares of Trump Media, parent company of the Truth Social social media platform traded under the ticker $DJT, fell 9% in after hours trading by 5:45 p.m.

That downward swing came after Trump, who owns 65% of the company, became a convicted felon.

Trump's sentencing is set to take place at the Manhattan criminal court on July 11.