top line
Former President Donald Trump’s net worth has doubled this month, rising from less than $4 billion in early October to $8 billion on Tuesday, following weeks of gains for his media company Trump Media & Technology Group. At the same time, former President Trump’s wealth skyrocketed. Betting favorite in the presidential election.
On Tuesday, Trump’s net worth reached $8 billion. (Photo by CHARLY TRIBALLEAU/AFP via Getty Images)
AFP (via Getty Images)
important facts
Trump’s net worth surged 6.3%, or more than $400 million, on Tuesday to the $8 billion level, more than doubling from $3.9 billion at the end of September.
The jump in the former president’s net worth came as Trump Media rose nearly 9% on Tuesday to close at $51.51.
While Trump’s net worth has doubled this month, Trump Media stock has more than tripled (up 249.2%) in the same period since starting at $16.16 in October.
According to the Associated Press, the rise in Trump Media’s stock price appears to have nothing to do with the company’s financial performance, but instead moved in response to Trump’s chances of winning the election, with investors becoming more aware of his chances. He noted that he feels optimistic.
Get Text Alerts for Forbes Breaking News: Start text message alerts to stay informed of the biggest stories shaping the day’s headlines. Send an “Alert” to (201) 335-0739 or sign up here.
tangent
Betting platform Polymarket gives Trump a 66% chance of winning the election. His odds have improved significantly since earlier this month, when he and Vice President Kamala Harris were tied. Most polls show Mr. Trump and Ms. Harris virtually tied in the seven battleground states expected to determine the outcome of the election, and major election forecasts suggest the race will be a close contest. are.
Main background
Trump’s net worth is tied to the volatility of Trump Media stock, which is just five weeks away from its all-time low of $12.15. Trump Media shares have quadrupled since then, surging after President Trump vowed not to sell his roughly 57% stake in the company. The stock has essentially returned to the highs recorded in May and March, after which the month marked Trump Media’s listing on the Nasdaq.
Read more
President Trump’s polymarket election odds are over 65% – Sites investigating big bets (Forbes)
Donald Trump’s net worth increases by $460 million as Trump Media stock soars (Forbes)
