More than $1 billion has been added to former President Donald Trump’s net worth on Monday, as shares of Trump Media—-the parent of social media platform Truth Social—surged days after an assassination attempt on Trump, who holds a majority stake in the company.
Shares of Trump Media surged Monday following the assassination attempt against former President ... [+]
Shares of Trump Media & Technology Group increased by 32% to under $41 as of about 1:15 p.m., pacing the company’s third-largest gain this year behind a 35% jump on March 25.
The value of Trump’s nearly 65% stake in the company, totaling 114.75 million shares, has increased to $4.6 billion from $3.5 billion since trading closed on Friday.
Trump Media shares previously closed at over $40 on June 12, when Trump’s stake was valued at just under $4.7 billion, before falling below $28 last week.
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Trump has a net worth of $6.6 billion, ranking him among the top 500 of the world’s wealthiest people, according to our latest estimates. His net worth increased to over $8 billion from about $4.1 billion when Trump Media went public on March 26, when the company’s stock peaked at $79.38. We estimate Trump Media to be worth between $40 million and $90 million.
Trump will speak Thursday at the Republican National Convention to accept the party’s presidential nomination for a third time. He is expected to announce his vice president pick on Monday afternoon.
Trump, 78, was targeted in an assassination attempt during a rally Saturday in Butler, Pennsylvania. The shooting resulted in the death of one attendee and two others being seriously injured. Trump Media chief executive Devin Nunes called for a “fast, thorough federal investigation” shortly after the incident, condemning the attack as “cowardly.” The attack has resulted in several calls for increased security for Trump—including from Nunes—at this week’s Republican National Convention. Trump’s campaign reportedly released a memo saying the convention would continue as planned, with new security measures for staff and additional security personnel.