Donald Trump has had quite the year with assassination attempts, legal challenges, and whatnot. But the one thing he does best is bounce back. While this broadly applies to his presidential candidacy, it also extends to his net worth. To explain it better, Trump’s net worth rose by $4 billion in days, despite all the drama surrounding him.
That being said, let’s take a look at the billionaire’s net worth journey from the beginning of 2024. The 45th President of the United States started the year with a comfortable $2.5 billion. However, this was a decrease from the $4 billion valuation from when he was in the White House.
Now, Forbes reports that the president-elect has seen a significant jump in his net worth, all thanks to Trump Media & Technology Group (TMTG,) which is the parent company of Truth Social. Read on to know how this happened.
As of December 23, Donald Trump’s assets are worth $6.1 billion. The majority of this was possible due to his stake in TMTG. He owns 60% of them and the fact that it went public played a crucial role in Trump’s growth. Trump’s shares grew exponentially after a merger with Digital World Acquisition Corp, a special purpose acquisition company, and TMTG.
Back in November, the share price of TMTG rose after Donald Trump debunked rumors of him selling the shares on his platform Truth Social, as per Reuters. As the lockup period was coming to its expiration, Trump posted,
“There are fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth. THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!”
The share price of TMTG has seen constant peaks and valleys, mostly because of what Donald Trump has been doing. Between January and March, Trump found himself going in and out of court due to several legal battles. But he bounced back in April 2024. By month’s end, the stock began rising again pushing Trump’s net worth to $7 billion. This happened because he expanded his stake in the company.
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Fast forward to July 14, Donald Trump was at a rally in Butler, Pennsylvania, when there was an assassination attempt. While Trump was injured, another attendee was killed. This development further increased his net worth by $1 billion. With so much happening around him, Trump held on to the shares of TMTG and refused to sell them despite the constant fluctuations of prices.
But as fate would have it, this very decision helped him secure a spot on the 2024 Forbes 400 list, where he ranked 319th with a net worth of $4.3 billion. This could be a moment of relief as he was dropped from the list for the first time in 25 years in 2021. Holding on to TMTG and making the company public helped Donald Trump as it saw him get his net worth back.
