Donald Trump may have joined the ranks of America’s richest people through his real estate holdings, from golf courses to hotels, but it’s his stake in the fledgling Trump Media & Technology Group that has more than doubled his net worth to $5.5 billion this year.
The money-losing social media company, which trades under the ticker symbol DJT, the same as Trump’s initials, has had a volatile year since going public in March. An initial surge in the market value of Trump Media in March made the former president’s 57% stake worth $5.2 billion, but that tumbled to $1.4 billion when the stock hit a low of $11.75 in September.
The wild swings in Trump Media shares has prompted comparisons to meme stocks, or companies that trade on social media buzz rather than revenue or profit growth, investors’ favored yardsticks. Trump Media, whose main asset is the Truth Social platform, has declining revenue and large losses, with University of Florida finance professor Jay Ritter telling CBS MoneyWatch that the “stock is incredibly overvalued.”
Even so, Trump’s wealth dwarfs that of his rival, Vice President Kamala Harris, who with her husband, Douglas Emhoff, is worth about $8 million, according to an estimate by Forbes. Harris’ wealth stems from her decades in public service, book royalties and investments.
Here’s what to know about Trump’s wealth.
Trump’s DJT shares
Despite the roller coast in DJT shares, Trump’s stake in the social network…
