Donald Trump’s election victory sent shares in Trump Media & Technology Group soaring on Wednesday, a market shift that added nearly $300 million to Trump’s fortune as he secured his second presidency.
Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2024/11/06/donald-trumps-net-worth-adds-nearly-300-million-after-election-win-as-trump-media-shares-surge/
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Read the full story on Forbes: https://www.forbes.com/sites/tylerroush/2024/11/06/donald-trumps-net-worth-adds-nearly-300-million-after-election-win-as-trump-media-shares-surge/
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NewsTranscript
00:00Donald Trump's election victory sent shares in Trump Media and Technology Group soaring
00:05on Wednesday, a market shift that added nearly $300 million to Trump's fortune as he secured
00:11his second presidency.
00:14Shares of Trump Media increased by nearly 8% to just under $37 as of around 11 a.m.
00:20Eastern Standard Time, following an earlier surge in pre-market trading that sent the
00:25stock above $40.
00:28The value of Trump's roughly 57% stake in Trump Media, totaling 114.75 million shares,
00:36increased by roughly $290 million to $4.1 billion.
00:42Positive trading follows a volatile session Tuesday, during which the stock rose by as
00:47much as 18.6% to $40.74, before turning negative, causing trading in Trump Media to be briefly
00:55halted and ending the day down 1%.
01:00The company reported a loss of $19.2 million during its third quarter, in addition to revenue
01:06declining by 5.6% year-over-year.
01:10Trump's net worth is valued at $6.3 billion, according to our latest estimates.
01:16His fortune has fluctuated in recent months amid volatile trading in Trump Media and briefly
01:21eclipsed $8 billion for the first time since the company went public in March.
01:27For more on this story, check out Tyler Roush's article in the link in the description.