Former President Trump's Wealth Surges to $1.8 Billion With New Media Company

Former President Donald Trump's wealth has seen a significant increase, now totaling a reported $8 billion in net worth. This boost can be attributed to his recently publicized company, Trump Media & Technology Group, along with its main asset, Truth Social, a social media platform.

Trump Media & Technology Group granted Trump an additional 36 million shares as an "earnout" bonus, contingent on the stock maintaining a value of over $17.50 per share for at least 20 trading days within a 30-trading day period. This brought his total shares to 114.75 million, with the stock trading under the ticker DJT, mirroring his initials. The current value of his entire stake is estimated at $5.7 billion based on the latest closing price.

Market Performance

Since its initial public offering in late March, Trump Media has experienced fluctuations in its stock value. After reaching a peak of $79.38 per share, the stock underwent a period of decline, prompting CEO Devin Nunes to accuse certain investors of engaging in illicit short selling activities. However, the stock has recently surged by 43%, regaining lost ground and closing at $49.93 per share on Tuesday.

Despite the surge in stock value, Trump and other executives will be unable to sell their shares for the next five months due to a lockup period. This measure is commonly implemented for newly listed companies to prevent insiders from flooding the market with their shares immediately after an IPO, which could potentially devalue the stock.

With the additional stock grant, Trump now possesses approximately 65% of Trump Media & Technology Group, a company that faced a net loss and generated only $4.1 million in revenue last year. Despite this, the company has garnered support from around 600,000 retail investors, many of whom are loyal to the former president. Some of Truth Social's users expressed optimism about Trump's increased ownership stake, viewing it as a potential deterrent to short-sellers.