Trump Media & Technology Group Corp (NASDAQ:DJT) stock surged nearly 49% from its lowest level in June, boosting the net worth of President Donald Trump.
According to Forbes, Trump’s net worth jumped by $600 million since DJT shares hit a 52-week low of $6.96 on June 26.
The gain is primarily attributable to his majority ownership stake in Trump Media & Technology Group, which is currently held through his Donald J. Trump Revocable Trust. The President’s eldest son, Donald Trump Jr. serves as trustee of the shares and controls their voting and investment decisions.
Since its 2024 public listing, Trump’s stake in TMTG has fallen from about 57% to 52% due to dilution and corporate actions, but he remains the company’s largest shareholder.
Based on approximately 276.9 million shares of DJT outstanding, Trump’s stake represents about 144 million shares. At DJT’s current closing price of $10.38, the holding is worth roughly $1.49 billion, compared to $1 billion as of June 26 at $6.96, adding nearly $492.5 million in his shareholder value.
Forbes now estimates his wealth at $6.5 billion.
Truth API Opens New Revenue Stream
The recovery followed the July 17 launch of Truth API, a real-time data service giving financial and trading firms access to posts from major Truth Social accounts.
The service, a B2B feed, gives institutional investors real-time access to Trump’s posts, creating a new data-licensing business for Trump Media while raising concerns over potential advantages from early access to market-moving information.
TMTG Interim CEO Kevin McGurn said Truth API will provide financial firms with real-time access to market-moving Truth Social posts, creating a new recurring revenue stream and adding shareholder value. TMTG said Truth API will provide posts within milliseconds and is built for high-frequency and algorithmic trading firms seeking real-time social media data.
Set to be launched for institutional investors on August 1, the service could cost between $60,000 and $100,000 a month, according to The Wall Street Journal.
Critics Slam Truth API Launch
Anthony Scaramucci criticized Truth API, alleging it gives hedge funds a trading advantage by providing faster access to Trump-related Truth Social posts, potentially disadvantaging retail investors.
Economist Peter Schiff criticized Trump Media’s planned Truth API, alleging it lets institutional investors pay for faster access to Trump’s market-moving posts and calling it an exploitation of the presidency for personal financial gain. Meanwhile, Political commentator Ed Krassenstein called the launch “blatant Trump family corruption,” saying hedge funds and algorithmic traders could react before retail traders.
Benzinga Edge Stock Rankings show that DJT had a stronger price trend over the short and medium term but a weaker trend over the long term. Benzinga’s screener allows you to compare DJT’s performance with its peers.
DJT Price Action: DJT stock closed 5.38% higher at $10.38 on Thursday. On a year-to-date basis, the stock declined 24.62%, as per data from Benzinga Pro.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
