Three-Time Trump Voter Put His Family's $205K Dream Home Fund Into Trump Media, Now Only $30K is Left

Vadim Fistikan wanted a house in Florida near his family, with a pool and a waterway leading to the sea. The truck driver voted for Donald Trump three times and decided to put his house savings into Trump Media instead.

Trump Media & Technology Group is the parent company of Truth Social, the social media platform it operates. Fistikan's investment grew to $205,000 (about £151,000). But when Forbes published his story in July, his stake was worth only about $30,000 (£22,000).

How the Money Went In

Trump announced the venture in October 2021, when it had almost no business of its own. Supporters could invest early through Digital World Acquisition Corp., a special purpose acquisition company, or SPAC, that later merged with Trump Media and took it public. Shares of the SPAC then jumped 1,650 per cent in two days before falling about 30 per cent by the start of the third day of trading. Fistikan saw the fall as a chance to buy at a lower price, not a warning. He continued putting money into the stock.

The business behind the shares has remained very small. Trump Media lost $238.1 million (£176 million) in the three months to 30 June, while bringing in about $1.7 million (£1.3 million) in revenue. Much of the loss stemmed from unrealised losses on digital assets, pledged digital assets, and equity securities, rather than Truth Social's day-to-day operations. Trump Media reported the figures on 10 August.

Buying shares to support a political cause is not unusual, and researchers have studied the practice. A study co-written by Elena Pikulina found that American investors are increasingly likely to own different shares depending on how they vote. This can reduce their investment returns and leave their money less spread out across different assets. 'Political polarization feeds financial and economic polarization,' said Pikulina, an assistant professor of finance at the University of British Columbia.

Why the Shares Have Not Come Back

Fistikan is not the only investor who has lost money. Forbes estimates that supporters of Trump's businesses are down about $7 billion (£5.2 billion) in total. Based on Forbes' figures, the Trump family is up about $3.1 billion (£2.3 billion).

Trump Media did not respond to Forbes' questions. The company sued Forbes and other media outlets in 2023 over reports about its financial results while it was still private, claims that Trump Media disputed.

The White House responded to questions about Trump's businesses by referring to his policies. Deputy press Secretary Anna Kelly said Trump cares deeply about the Americans who elected him. Kevin McGurn became interim chief executive in April. He is continuing to work on a proposed merger with TAE Technologies, a nuclear-fusion company, which TMTG has targeted for completion in the fourth quarter of 2026 or sooner.

The shares closed at $9.77 (£7.21) on 31 August, after hitting a 52-week low of $6.96 in June. Forbes said the stock had fallen 89 per cent from its peak.

Fistikan posted on Truth Social in autumn 2025 that he believed the investment was a scam. Other Trump supporters responded by accusing him of being a Trump hater.

Fistikan said he had supported the company from the beginning. 'I'm now broke,' said Fistikan, he said, having been saving since he was 17. He invested almost all his savings in that one stock.

Forbes said Trump-linked investments have been driven more by loyalty and hopes of another surge in the share price than by the company's earnings.

What This Means for Anyone Holding One Stock

The main lesson is not about politics. Financial advisers generally warn that putting most or all of your money into one company creates significant concentration risk.

After losing most of his savings, Fistikan settled for an overgrown plot of land that cost $18,000 (£13,000), hoping he could build a home there someday.

Forbes reported that diesel prices of more than $6 a gallon in the Pacific Northwest have also reduced what he earns from hauling loads. When he recently needed cash, he did not sell his Trump Media shares. Instead, he sold his pickup truck.