Trump's Wealth Surges as Truth Social's Stock Rises
- Shares of Trump Media & Technology have nearly tripled in value since late September, following the expiration of a rule that restricted early investors from selling shares.
- The stock surged approximately 10 percent on Tuesday, building on an 18 percent gain from the previous day.
- This increase has significantly boosted Donald Trump's net worth, adding about $2 billion to his stake in the company.
In October 2024, the stock price of Trump Media & Technology, the parent company of Truth Social, experienced a remarkable surge, nearly tripling in value since late September. This increase followed the expiration of a rule that had previously prevented early investors, including Donald Trump, from selling their shares. The lifting of this restriction allowed for a significant increase in trading activity and investor confidence in the company. On October 15, the stock price jumped by 10 percent, building on an impressive 18 percent gain from the previous day. This volatility in stock price has been closely tied to the public perception of Donald Trump's political prospects, particularly as he campaigns for the presidency. As a result of this stock surge, Trump's net worth has seen a substantial increase, with approximately $2 billion added to his wealth. His nearly 60 percent stake in Trump Media is now valued at around $3.8 billion, reflecting the company's fluctuating fortunes since it became public in March 2024. The stock's performance is indicative of the broader market dynamics surrounding Trump's political activities and the ongoing interest in social media platforms. Investors are closely monitoring the situation as it unfolds, given the potential implications for both the company and Trump's political future.