Donald Trump didn’t merely secure the White House; he also saw his wealth increase by over $1 billion on Wednesday.
Trump Media’s stock, traded under the ticker symbol “DJT,” surged 35% in premarket trading, pushing its market value to an impressive $9 billion. Trump holds the majority stake in the right-wing social media firm, which has minimal earnings and is operating at a loss.
The president-elect’s 114.75 million shares are now valued at approximately $5.3 billion based on premarket figures, up from $3.9 billion when trading concluded on Election Day. Naturally, these are just theoretical profits, and in reality, it would be challenging for Trump to liquidate much of these shares without causing the stock price to plummet.
For months, Trump Media has been a barometer for how investors perceive the outcome of the election. As Trump’s chances of winning seemed to diminish, the company’s stock price collapsed to unprecedented lows in September.
However, from September 23 through the end of October, Trump Media saw its worth soar, a dramatic surge fueled by speculation that Trump would claim victory in the White House.
(CNN)
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