Shares of Trump Media & Technology Group, the social media company that former President Donald Trump recently took public, plunged 12% on Friday, wiping out the gains from its debut. 

Shares of Trump Media Dip to its Lowest Level

According to CNN, this is the lowest level since Trump Media, the parent company of Truth Social, went public last week. This sharp decline has significantly impacted Donald Trump's wealth, as it erased almost $2 billion from the value of his stake in the company this week.

Trump Media's shares have been on a rollercoaster ride since its highly anticipated debut on the Nasdaq under the ticker symbol "DJT" on March 26. 

After soaring to a peak of $79.38 on the day the company started trading, the share price experienced a sharp decline, dropping by 49% to the closing price of $40.49 on Friday.

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Stake of Donald Trump in Trump Media

This week, Trump Media's shares have depreciated by approximately one-third of their initial value. However, despite this week's losses, the shares of Trump Media have seen an overall increase of over 130% since the start of the year.

As a result of these fluctuations, Donald Trump's stake in the company has substantially decreased, now estimated to be around $3.2 billion, compared to $4.9 billion last week. 

READ MORE: Donald Trump's Media Company Sues 2 Co-Founders, Seeking to Void Their Shares in Trump Media