Shares of Truth Social’s parent company, Trump Media & Technology Group (TMTG), have experienced a turbulent journey since their Wall Street debut in March. Initially soaring, then crashing, and now making a robust recovery, the stock has dramatically increased the value of former President Donald J. Trump’s majority stake. It is now estimated at about $6 billion.
The stock’s recent rally has bolstered Trump’s financial resources as he ramps up his presidential campaign and confronts substantial legal expenses stemming from multiple ongoing cases.
On Wednesday, TMTG’s share price closed around $53, nearing the $58 mark it hit on its first trading day, March 26.
Trump holds nearly two-thirds of TMTG.
While Trump’s gains are substantial, restrictions prevent major shareholders from selling shares or using them as loan collateral for at least six months. However, due to Trump’s control over the company, the board could potentially waive these restrictions upon his request.
Despite these constraints, the company’s multibillion-dollar market valuation places it among established firms like American Airlines and Hasbro.
