New challenges are emerging for Donald Trump, the Republican presumptive nominee, despite a significant increase in his net worth since last month when his company Trump Media & Technology Group went public in March.

The former president’s stake in his public company is now valued at $6 billion, even though the company’s revenue is low.

Recent data from intelligence company Similarweb may raise concerns about the company’s future. The data shows that Trump’s social media platform, Truth Social, experienced a 19% drop in its average daily user base in April compared to the previous year.

Trump Media & Technology Group owns Truth Social. In the past month, the user base decreased by 4% month over month.

This decline coincides with Trump’s legal troubles related to hush money paid to adult film star Stormy Daniels in 2016.

Matthew Kennedy, a senior initial public offering strategist at Renaissance Capital, emphasized the importance of user growth for social media startups, stating that attracting users is crucial for monetization.

Failure to attract enough users could negatively impact Trump Media & Technology Group’s business prospects.

However, Trump Media spokesperson Shannon Devine criticized the media, claiming that Truth Social has millions of users and accusing the media of using unreliable estimates to undermine their success.