Trump's net worth rises as Trump Media shares soar 11%

Top line

Former President Donald Trump's net worth jumped $460 million Friday as his media company, Trump Media & Technology Group, continued its five-week recovery from record lows hit last month.

Former President Donald Trump, Republican presidential candidate, steps aside to speak at a turning point… [+] Action rally in Duluth, Georgia. (Photo by Jabin Botsford/The Washington Post via Getty Images)

The Washington Post via Getty Images Key Facts

Trump's estimated net worth is up $459 million, an increase of 7.5%, bringing his net worth to $6.6 billion.

The increase coincides with a good trading day for Trump Media, which closed up more than 11% at $38.95.

It's unclear what contributed to the surge in Trump Media shares, which are up more than 30% over the past five trading days, although gains in recent weeks have come as the former President has increased his betting odds for the 2024 election, overtaking Vice President Kamala Harris as the favorite.

Trump's net worth has increased by more than $2.5 billion since mid-September, when the former president's net worth fell alongside Trump Media's shares.

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Large number

More than 200%. That's how far Trump Media shares have climbed since Sept. 23, when they hit a record high of $12.15.

Tangent

Odds on betting platform Polymarket favoring Trump's victory in the 2024 election reached 66% earlier this week, marking their highest level since President Joe Biden withdrew from the presidential race in July. His chances fell to 65% on Friday.

Key context

Trump's net worth is heavily tied to the performance of his media company's shares, which have proven volatile since going public in March. The company's stock price has more than tripled in the past five weeks, providing a boon to Trump's net worth, who owns nearly 115 million shares valued at about $4.4 billion. Friday. Trump Media has performed well since the former president pledged last month not to sell his shares in the company despite a lockup period that prevented him from doing so that ended last month.

Further reading

Here's How Much Trump Made By Not Selling His Social Truth Actions (Forbes)

Trump's polymarket election chances exceed 65% as site investigates big bets (Forbes)

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