Former President Donald Trump’s personal net worth surged dramatically on Monday, just days after he survived an assassination attempt in Pennsylvania.
Reports indicate Trump added approximately $1.2 billion to his net worth, representing a 21.8% increase, according to Forbes’s real-time tracker. This significant boost is largely attributed to a rush of investors seeking stakes in Trump Media & Technology Group (TMTG), the company behind his social media platform, Truth Social.
Trump Media’s stock experienced a substantial rise, surging over 35% in trading on Monday, reaching a 50% gain before the market opened. The stock is trading at around $42 per share, bringing the company’s market capitalization to $7.98 billion.
As of June 10, Trump is the majority shareholder in Trump Media, holding nearly 65% of the company’s common stock, making him the largest owner of the company’s shares.
The incident in Pennsylvania occurred on Saturday during a campaign rally in Butler, where Trump, the presumptive Republican presidential nominee, was injured in an apparent assassination attempt. Videos showed Secret Service agents rushing Trump offstage as gunshots were heard, with blood visible from his right ear. He is reported to be safe and is scheduled to announce his vice-presidential pick Monday at 4:30 p.m. ET during the Republican National Convention in Milwaukee, Wisconsin. He is also expected to address the delegates on Thursday.
The shooting left at least three others injured. David Dutch and James Copenhaver, both Pennsylvania residents, are in stable condition, according to state police. Tragically, Corey Comperatore of Sarver, Pennsylvania, was killed in the attack.
The shooter, identified by authorities as Thomas Matthew Crooks, a 20-year-old Pennsylvania resident, was fatally shot by the Secret Service. The motives behind the attack are still unknown.
In response to the incident, Trump Media CEO Devin Nunes has called for a “fast, thorough federal investigation,” and requested additional security resources, stating, “America will overcome this despicable shooting and together, our nation will endure.”
Trump Media’s stock, often considered a meme stock due to its volatility irrespective of the company’s actual performance, tends to react significantly to news involving Trump. Last month, the former president’s performance in the first presidential debate against Biden caused a spike in Trump Media’s stock, gains that were later lost. Since its NASDAQ debut on March 26, Trump Media stock has fallen by more than 40%.