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

Posted on by Gerres
Trump’s net worth grows as Trump Media shares rise 11%

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 surge from a record low reached last month.

Key facts

Trump’s estimates net worth increased by $459 million, an increase of 7.5%, bringing his net worth to $6.6 billion.

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

It is unclear what has fueled the surge in Trump Media shares, which are up more than 30% in the last five days of trading, although the gains over the past few weeks come after the former president’s 2024 betting odds surged ahead of the election Vice President Kamala Harris as the favorite.

Trump’s fortune has increased by more than $2.5 billion since mid-September, when the former president’s fortune fell along with Trump Media’s stock price.

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A large number

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

Tangent

Earlier this week, odds on betting platform Polymarket in Trump’s favor in the 2024 election rose to 66%. highest level since President Joe Biden withdrew from the presidential race in July. His chances are like this up to 65% from Friday.

Key background

Trump’s net worth is largely tied to his media company’s stock price, which has been volatile since going public in March. The company’s stock price has more than tripled in the past five weeks, a boon for Trump’s fortune because as of Friday, he owns nearly 115 million shares worth about $4.4 billion. Trump Media has been doing well since the former president promised last month not sell your shares in the company despite block period which prevented him from doing so until the end of last month.

Further reading

Here’s how much Trump made by not selling his Pravda social shares. (Forbes)

Polymarket’s Trump election odds reach 65% – site explores big bets (Forbes)