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Trump’s net worth rises as Trump Media shares rise 11%

Posted on by Nargang
Trump’s net worth rises as Trump Media shares rise 11%

The top line

Former President Donald Trump’s net worth rose by $460 million on Friday as his media company, Trump Media & Technology Group, continued a five-week rally from record lows last month.

Key facts

Trump’s estimate net worth grew by $459 million, a 7.5% increase, bringing his net worth to $6.6 billion.

The boost coincides with a strong day of trading for Trump Media, which closed up more than 11% at $38.95.

It’s not clear what has driven Trump Media shares up more than 30 percent in the past five trading days, although gains in recent weeks have come as the former president has increased betting odds for the 2024 election, surpassing -Vice President Kamala Harris as favorite.

Trump’s net worth has increased by more than $2.5 billion since mid-September, when the former president’s net worth fell along with shares of Trump Media.

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Big number

More than 200%. That’s how much Trump Media shares have risen since September 23, when they hit a record low of $12.15.

Tangent

Odds on betting platform Polymarket favoring Trump to win the 2024 election rose to 66% earlier this week, marking the highest level since President Joe Biden withdrew from the presidential race in July. His chances are up to 65% from friday.

Key background

Trump’s net worth is significantly tied to the performance of his media company’s stock, which has proven volatile since going public in March. The company’s stock price has tripled in the past five weeks, providing a boon for Trump’s net worth, as he owns nearly 115 million shares valued at about $4.4 billion as of Friday. Trump Media has performed well since the former president promised last month that he would not to sell their shares in company despite a lock period which prevented him from doing so until last month.

Further reading

Here’s How Much Trump Made If He Didn’t Sell His Social Truth Stock (Forbes)

Polymarket Trump election odds at 65% – as site investigates big bets (Forbes)