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Donald Trump’s entry into the Nasdaq stock exchange was marked by a remarkable surge in the value of Trump Media & Technology Group. The company’s shares experienced a significant rise, reaching a peak before a late-day selloff somewhat moderated the gains. Despite experiencing a correction, Trump’s social media venture, Truth Social, managed to attain a closing market value of close to $8 billion, positioning it alongside well-established companies such as Lyft and Etsy.
This surge in stock price has substantially bolstered Trump’s wealth, considering his significant ownership stake of approximately 58% in the company. According to Bloomberg, this stake alone is valued at over $4 billion, contributing to Trump’s total net worth, which now stands at around $6.5 billion. Additionally, if the stock price is maintained above $17.50 per share for an extended period, Trump will receive tens of millions of additional shares, according to AP News.
However, it’s essential to note that a substantial portion of the business mogul-turned-politician’s wealth is tied up in his shares of Truth Social, and he currently cannot liquidate these holdings due to a mandatory six-month lock-up period.
