Elon Musk and Donald Trump are making headlines as the upcoming election draws near. Truth Social, Donald Trump’s social media platform, has seen a remarkable increase in value, surpassing Elon Musk’s X (formerly Twitter).
The shares of Trump Media & Technology Group (TMTG) experienced a significant surge of 21.6% to reach $47.36 per share
In contrast, X faced challenges in the second quarter leading to a valuation of around $9.4 billion as reported by Fortune magazine.
Despite its smaller size compared to X, Truth Social witnessed a remarkable uptick in its share prices reaching levels not seen since mid-July after hitting record lows in September. Market analysts attribute this fluctuation to speculations about Trump’s potential victory in the election according to CNN.
The recent boost followed a controversial rally held by Trump at Madison Square Gardens where a comedian made derogatory remarks about Puerto Rico, causing widespread criticism.
With 56.6% ownership of TMTG shares, Trump now holds assets worth approximately $5 billion.
2024-11-29 11:15:01
Original article from www.ibtimes.com
