US Presidential Elections 2024: Truth Social shares surge 20% – Is the betting market supporting Trump?
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The stock surged nearly 20% during the final trading session before polls closed, significantly enhancing former President Donald Trump’s financial standing.
By mid-morning, shares traded under the ticker symbol $DJT, referencing Trump's initials, rose by 17% to $40. This surge added approximately $610 million to Trump’s net worth, elevating his total fortune to around $6.6 billion, as mentioned in the report by Forbes.
The Impact on Trump’s Net Worth
Trump’s media venture, which includes a significant stake in Truth Social, now constitutes approximately $4.6 billion of his overall net worth. This remarkable increase in wealth places him as the 473rd richest person globally, as estimated by Forbes.
The rise of the Truth Social parent company’s stock is particularly striking, with a remarkable 120% increase over the past month. This upward trajectory reflects a growing confidence in Trump’s political prospects as the election draws near.
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