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Trump’s Net Worth Doubles to $8 Billion in Less Than 30 Days
Trump’s Net Worth Doubles to $8 Billion in Less Than 30 Days
Donald Trump’s net worth has risen from just under $4 billion at the beginning of October to a staggering $8 billion, according to Forbes. This dramatic rise is aided by a significant increase in the stock of his media company, Trump Media & Technology Group (TMTG), which has piqued the interest of investors and analysts alike.
As of Tuesday, Trump’s wealth jumped by more than 6%, translating to over $400 million, positioning him as the 357th richest person in the world. The boost in his net worth coincides with a growing perception of his chances in the U.S. presidential race, where he has emerged as the betting favorite. Current odds from Polymarket give Trump a 66% chance of winning, a marked increase from earlier this month.
The TMTG stock has been a pivotal player in this financial ascent, closing at $51.51 after a 9% increase on Tuesday. This represents a staggering 249.2% rise from its starting price of $16.16 in October. Interestingly, reports indicate that this stock price surge is not directly related to TMTG’s core financial performance but is instead closely tied to market perceptions of Trump’s improving electoral prospects.
Trump’s Net Worth Doubles to $8 Billion in Less Than 30 Days
The initial betting odds showed a tight race between Trump and Vice President Kamala Harris. However, recent polling suggests a competitive landscape, particularly in key battleground states. The optimism surrounding Trump’s potential return to office has provided a resilient boost to TMTG’s stock, which had recently faced significant volatility, dropping to a low of $12.15 just five weeks ago.
In response to the earlier stock slump, Trump reaffirmed his commitment to TMTG by retaining his 57% stake in the company, a move seen as a confidence booster for wary investors. Since this announcement, TMTG’s stock has rallied, recovering to levels not seen since the company’s initial Nasdaq debut.
The market’s reaction to Trump’s electoral odds reflects a broader trend where investor sentiment can dramatically influence personal fortunes, especially for individuals like Trump, whose financial success is increasingly tied to political factors. With TMTG’s stock stabilizing at elevated levels, Trump’s net worth now places him solidly within the global billionaire elite.
Additionally, in a move to further capitalize on his brand, Trump recently announced a partnership with BestWatchesOnEarth LLC to launch a series of Swiss-made luxury timepieces, including a limited edition Trump Tourbillon Victory model priced at $100,000. This venture highlights Trump’s ongoing efforts to expand his business portfolio amid a rapidly changing political landscape.
As developments unfold, it will be interesting to see how Trump’s financial trajectory aligns with his political ambitions in the coming weeks. For those looking to stay informed on these evolving dynamics, subscribing to FT’s breaking news alerts is a smart move.
