Trump Insider Trading Scandal Costs Ex-President Over $1 Billion

Two brothers, Michael and Gerald Shvartsman, pleaded guilty to insider trading ahead of Trump Media's public offering
They made $22 million combined through illegal trades based on nonpublic info about the DWAC and Trump Media merger
Michael Shvartsman used $14 million in profits to buy a yacht called "Provocateur"
A third man, Bruce Garelick, was also charged and will go on trial later this month
Trump Media shares tumbled 20% after reporting a $58 million net loss last year, causing Trump's net worth to fall over $1 billion