Trump Jr.-backed PublicSquare loses $160 million as shares plunge
The Donald Trump Jr.-supported online marketplace PublicSquare has recorded nearly $160 million in losses since its 2023 NYSE debut and its stock has fallen about 99 percent.
PublicSquare, the online marketplace promoted by Donald Trump Jr. as an "anti-woke" venue for patriotic and religious shoppers, has suffered a near-total collapse of its market value since listing on the New York Stock Exchange in 2023. According to filings, the company accumulated almost $160 million in losses from its IPO through July, with net losses of $57.6 million in 2024 and $36.6 million in 2025. In response, PublicSquare announced a shift away from e-commerce toward fintech, eliminated 41 percent of its workforce and cancelled a planned streaming program.
Payments to Trump Jr. for consulting have topped $42,000 per month, outpacing the former CEO’s compensation, while former Trump administration official Nick Ayers and a firm linked to Omeed Malik also received sizable fees. The financial strain places the firm at risk of delisting from the exchange.
Why it matters
The collapse highlights the challenges of politically branded businesses and raises questions about costly consultancy ties.
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