Donald Trump’s net worth rises by $200M in a day

By Dat Nguyen November 7, 2024 | 03:17 pm PT

President-elect Donald Trump seen at an event in Florida, U.S., on Nov. 6, 2024. Photo by AP

Donald Trump’s net worth went up $231 million Wednesday as share of his company Trump Media & Technology Group jumped after he won the U.S. Presidential Election.

The share closed the day 6% higher, sending Trump’s net worth up 3.9% to $6.2 billion, according to U.S. magazine Forbes.

Trump owns almost 115 million shares in the company and is the largest shareholder.

Matthew Tuttle, CEO of Tuttle Capital Management, told CNN he was not surprised to see Trump Media surge on Wednesday because the stock was the "only pure play" for traders to wager on a Trump win.

Investors expect that Truth Social, the social media developed by Trump Media, will become more popular with Trump being the president for the next four years.

Analysts continue to caution that Trump Media's current valuation is excessively high given its business fundamentals.

The company remains unprofitable to date, with third-quarter revenue at only $1 million.