Donald Trump’s net worth doubles in October

On By Littum

Upper line

Former President Donald Trump’s net worth has doubled this month, rising from less than $4 billion at the start of October to $8 billion on Tuesday, coinciding with a multi-week rally by his media company, the Trump Media & Technology Group, which he has stepped up to to stay. the betting favorite in the presidential election.

Key facts

Trump’s net worth rose 6.3% — more than $400 million — on Tuesday to reach $8 billion, more than doubling from the end of September, when it stood at $3.9 billion.

The increase in the former president’s net worth came as Trump Media closed up nearly 9% to $51.51 on Tuesday.

While Trump’s net worth has doubled this month, Trump Media’s stock price has more than tripled (up 249.2%) over the same period, after starting October at $16.16.

Trump Media’s stock surge does not appear to be linked to the company’s financial performance and has instead moved with the odds that Trump will win the election, according to Associated Presswho noted that investors are feeling more optimistic about his chances.

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Key

Betting platform Polymarket gives Trump one 66% chance to win the election. His odds have improved significantly since the start of the month, when he and Vice President Kamala Harris were nearly tied. Most polls show Trump and Harris virtually tied across the seven states expected to decide the outcome of the election, and major election projections suggest the race is a toss-up.

Key background

Trump’s net worth has been tied to volatility in Trump Media’s stock, which is just five weeks removed from a record low of $12.15. Since then, Trump Media shares have quadrupled and rallied after Trump pledged not to sell his roughly 57% stake in the company. The stock has effectively returned to the highs it hit in May and March, with the latter month marking Trump Media’s Nasdaq debut.

Further reading

Trump’s Polymarket Election Odds Top 65% – As Site Examines Big Bets (Forbes)

Donald Trump’s Net Worth Rises $460 Million As Trump’s Media Shares Rise (Forbes)