Former President Donald Trump’s personal net worth experienced a significant rise on Monday, just days after surviving an assassination attempt in Pennsylvania.
Trump’s net worth increased by approximately $1.2 billion, which marks a 21.8% jump, according to Forbes’s real-time tracker. This surge is largely due to investors’ interest in Trump Media & Technology Group (TMTG), the company that owns his social media platform, Truth Social.
Trump Media stock saw a 35% increase in trading on Monday, achieving gains of more than 50% before the market opened. The stock is trading at around $42 per share, giving it a market capitalization of $7.98 billion.
As of June 10, the former president holds nearly 65% of Trump Media’s outstanding common stock, making him the largest shareholder.
Trump, the presumptive Republican presidential nominee, was injured during a shooting at a campaign rally in Butler, Pennsylvania, on Saturday. The incident is being investigated as an assassination attempt.
Footage from the rally showed Trump being quickly surrounded by Secret Service agents as gunshots were heard. He was then escorted offstage with blood flowing from his right ear. Despite the shooting, Trump is safe and plans to announce his vice-presidential pick on Monday at 4:30 p.m. ET during the Republican National Convention in Milwaukee, Wisconsin. He is expected to address delegates on Thursday.
Three other individuals were injured in the shooting. Pennsylvania residents David Dutch and James Copenhaver are in stable condition, according to state police. Corey Comperatore of Sarver, Pennsylvania, was shot and killed during the attempt.
The assailant, identified by authorities as Thomas Matthew Crooks, a 20-year-old from Pennsylvania, was shot dead by the Secret Service. The motives behind Crooks’ actions remain unclear.
Trump Media CEO Devin Nunes has called for a “fast, thorough federal investigation” and additional security measures. “America will overcome this despicable shooting, and together, our nation will endure,” Nunes stated on Saturday.
Trump Media stock, often regarded as a meme stock due to its volatile trading, is highly sensitive to news involving the former president. Late last month, Trump’s performance in the first presidential debate against Biden led to a spike in Trump Media’s stock value, though those gains were relinquished days later. Since its debut on the Nasdaq on March 26, Trump Media’s stock has dropped by more than 40%.