Trump Media & Technology Group, founded by former President Donald Trump, saw a significant increase in its stock value following Trump’s re-election, adding nearly $300 million to his fortune. The stock surged by nearly 8% to just under $37 per share, boosting the value of Trump’s 57% stake in the company to $4.1 billion. This positive trading came after a volatile session the previous day, during which the stock rose by as much as 18.6% before ending the day down by 1%.
Despite the recent increase in stock value, Trump Media reported a loss of $19.2 million in the third quarter, with revenue declining by 5.6% year-over-year. However, in October, Trump Media’s shares increased by 119%, reaching as high as $54.68 per share during the month. This surge in stock value contributed to Trump’s net worth, which is currently estimated at $6.3 billion, although his fortune briefly exceeded $8 billion earlier this year.
Since going public through a reverse merger earlier this year, Trump Media’s stock has fluctuated in response to Trump’s presidential campaign. The stock initially reached a valuation of nearly $10 billion in May but dropped below $11, causing concern for shareholders, including Trump. The stock has seen surges and declines during key moments in Trump’s campaign, such as after debates with President Joe Biden and Vice President Kamala Harris. Trading has also been halted multiple times due to volatility in the market.
The recent increase in Trump Media’s stock value coincided with election betting markets favoring Trump, leading to a surge in trading activity. However, the stock has experienced fluctuations based on market sentiment and external factors. Despite these challenges, Trump’s investment in the company has proven to be lucrative, with his fortune increasing as a result of the recent market shift.
Overall, Trump’s involvement in Trump Media & Technology Group has been closely tied to his political career, with the company’s stock value reflecting developments in his campaign. The recent increase in stock value following his re-election has led to a boost in his net worth, highlighting the complex relationship between Trump’s business ventures and his role in public office. As Trump continues to navigate the post-election landscape, the future of Trump Media and its impact on his financial interests remain unpredictable.
