Trump's net worth doubles to $8 billion in less than 30 days

Donald Trump’s net worth has seen a stunning rise in October, from just under $4 billion in early October to $8 billion (Forbes), buoyed by an impressive rally in the shares of his media company, Trump Media & Technology Group (TMTG) . ).

This financial surge coincides with Trump’s emergence as a betting favorite in the US presidential race, which has significantly increased investor sentiment around his media brand.

As of Tuesday, Trump’s wealth has increased by more than 6%, or more than $400 million, making him among the richest individuals in the world.

Trump now ranks as the 357th richest person in the world, according to real-time billionaire tracking data, underscoring the recent momentum in his personal fortunes. The increase in net worth reflects TMTG’s stock price, which closed 9% higher at $51.51 on Tuesday, up 249.2% in October from its starting price of $16.16.

Reports suggest that TMTG’s share price rise has little correlation with the company’s core financial performance. Instead, the increase is closely tied to the market’s perception of Trump’s improving electoral prospects.

What you need to know

According to the Associated Press, TMTG’s valuation gains come as Trump’s election odds have risen on several betting platforms, with Polymarket’s latest figures giving Trump a 66% chance of victory, a significant increase from early October.

Betting initially showed Trump nearly tied with his likely opponent, Vice President Kamala Harris, but recent polls show the race remains tight, especially in crucial battleground states. Still, the positive outlook on Trump’s election potential has given TMTG shares remarkable resilience and growth.
Trump’s financial rise follows a period of significant volatility for TMTG shares, which plummeted to a record low of $12.15 five weeks ago.
In response to the dip, Trump announced he would retain his 57% stake in the company, a move seen as a signal of confidence that likely reassured investors. Since that announcement, TMTG shares have quadrupled, reaching levels last seen in March and May, around the time of the company’s initial Nasdaq debut.
The former president’s wealth is increasingly tied to TMTG’s stock trajectory, reflecting broader investor sentiment about Trump’s potential return to office. TMTG’s valuation has now stabilized at a level that puts Trump’s wealth among the global elite of billionaires, underscoring how investor optimism, coupled with political factors, can boost personal fortunes.

The market’s reaction to Trump’s election chances signals growing confidence in his re-election chances, which could continue to boost TMTG’s stock price in the coming weeks. For continued coverage of these developments and more, readers can subscribe to FT’s breaking news alerts.

A few weeks ago, Trump teamed up with BestWatchesOnEarth LLC to launch a series of limited-edition Swiss-made luxury timepieces Trump Tourbillon Victory model priced at $100,000.