Former President Donald Trump defeated Vice President Kamala Harris in the 2024 presidential election, winning a return to the White House and helping boost a media stock associated with him along the way.
Here's a look at Trump's growing wealth in recent months.
What Happened: Trump's victory in the 2024 election sent shares of Trump Media & Technology Group (NASDAQ:DJT) soaring late Tuesday and early Wednesday.
The company, which was co-founded by Trump and is the owner of the Truth Social platform, saw volatile trading in its stock in the months before the 2024 election.
The stock often traded higher or lower related to Trump's odds in election polls and prediction markets and has also been highly volatile related to major news events around the former president like court cases and assassination attempts.
Trump owns around 57% of the company and is free to sell his shares, although he has said he doesn't plan on doing so.
With Trump Media & Technology Group shares trading at $36.05 Wednesday, Trump's stake of 114.75 million shares is worth $4.14 billion. Earlier Wednesday morning with shares trading at $45.77, Trump's stake was worth $5.25 billion.
The increase in the share price of Trump Media & Technology Group has provided a bump to Trump's net worth.
Forbes estimates Trump is worth $6.3 billion. Bloomberg estimates Trump is worth $6.49 billion as of Tuesday.
Trump is the wealthiest president of all time and will likely return to the White House as a billionaire.
The United States president is paid an annual salary of $400,000, paid out on a monthly basis. The position also comes with a $50,000 allowance for expenses, $100,000 allowance for travel and $19,000 allowance for entertainment.
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What's Next: Trump Media & Technology Group will be closely watched after the election and could continue to serve as a proxy to Trump's time in office.
The social media company reported quarterly financial results Tuesday ahead of the 2024 election with revenue declining on a year-over-year basis. The company laid out several plans for future growth.
Truth Social's exclusivity with Trump calls for the president-elect to post non-political items on the social media platform first. The exclusivity deal can be terminated by Trump with 30 days prior written notice beginning Feb. 2, 2025.
Trump has been using social media platforms like X and Facebook to share political ads and posts.
Investors will be closely watching to see how Truth Social is used going forward and if it is the home of Trump’s non-political posts and sees increased interest during his time in the White House.
While Trump posting more on X could help his friendship with Elon Musk and reach a wider audience, it could hurt DJT shares and likewise the president’s wealth.
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