Donald Trump’s election victory sent shares in Trump Media & Technology Group soaring on Wednesday, a market shift that added nearly $300 million to Trump’s fortune as he secured his second presidency.
Shares of Trump Media increased by nearly 8% to just under $37 as of around 11 a.m. EST, following an earlier surge in premarket trading that sent the stock above $40.
The value of Trump’s roughly 57% stake in Trump Media—totaling 114.75 million shares—increased by roughly $290 million to $4.1 billion.
Positive trading follows a volatile session Tuesday, during which the stock rose by as much as $18.6% to $40.74 before turning negative—causing trading in Trump Media to be briefly halted—and ending the day down 1%.
The company reported a loss of $19.2 million during its third quarter, in addition to revenue declining by 5.6% year-over-year.
