US Election: Trump Media Stock Climbs 15%—Boosting Trump’s Net Worth By Over $500 Million
As the most talked about election approaches, the world is keen on seeing how things will play out, how the democracy which many draw inspiration from Will fair. It will be a tough one for the two major parties who are locking horns in few weeks time.
Former President, Donald Trump is not slowing down and he’s really looking good in the race which many are already tipping to win. See Forbes captured the progress Trump’s Media & Technology Group is making;
“Shares of Trump Media & Technology Group, which owns former President Donald Trump’s social media platform Truth Social, jumped more than 15% on Monday—adding more than $500 million to Trump’s net worth, though the company is still trading well below earlier this year.
“The share price of Trump Media, which trades with the ticker $DJT, was up 15.98% to almost $30 a share as of 1:48 p.m. EDT Monday—which helped to increase Trump’s net worth by $531 million.
“Trump, who owns 57% of Trump Media shares according to the latest FactSet data, was worth $5.5 billion as of 1:48 p.m. EDT Monday, making him the 603rd wealthiest person in the world according to Forbes’ real-time tracker.
“DJT—which is often regarded as a “meme stock,” meaning its price responds to non-earnings developments like Trump’s likelihood of winning the White House in November—has been rising since it hit new lows in late September, but it is still trading well below its peak of $66 shortly after it went public in March.”
