Trump's social media company is now worth more than Musk's X after recent surge in stock price

Donald Trump’s Truth Social is now worthy much than Elon Musk’s X

NEW YORK -- Donald Trump's Truth Social is now worthy much than Elon Musk's X, acknowledgment to a caller run-up successful nan shares of nan genitor institution of nan erstwhile president's societal media platform.

Trump Media & Technology Group is now weighted astatine complete $10 cardinal aft its shares much than quadrupled since precocious September. Meanwhile, X Holdings is weighted astatine astir $9.4 billion, based connected nan astir caller worth nan finance group Fidelity assigned to its liking successful nan institution formerly known arsenic Twitter.

The banal of Trump Media, aliases TMTG, tends to move much pinch Trump’s re-election likelihood than connected its ain profit prospects and investors person seen his chances of retaking nan presidency improving of late. On Tuesday, nan banal roseate much than 12% to $53.30, connected apical of a 21.6% summation Monday. The banal was moving truthful sharply that trading was concisely halted respective times during nan morning. The banal had dropped to astir $12 precocious past month.

Trump created TMTG aft he was banned from Twitter and Facebook pursuing nan Jan. 6, 2021, Capitol riot. He owns astir 57% of nan institution but has nary domiciled successful moving it.

Based successful Sarasota, Florida, TMTG has been losing money and struggling to raise revenue. It lost much than $16 cardinal successful nan 4th ending successful June while generating only $837,000 successful revenue, according to regulatory filings.

When Musk took complete Twitter successful October of 2022, nan institution was weighted astatine astir $44 billion. At that time, Fidelity Investments weighted its liking astatine $19.7 million. In a caller regulatory filing, Fidelity’s Blue Chip Growth money said its liking successful X Holdings was worthy astir $4.2 million.

Other companies TMTG is now bigger than include: Caesars Entertainment, Match Group, Walgreens Boots Alliance and Hasbro, nan shaper of nan Monopoly game.

Musk has go 1 of Trump's astir salient supporters successful his bid to get re-elected. The world’s richest man, Musk has committed much than $70 million to boost Trump and has precocious held a number of municipality halls successful support of nan erstwhile president.