Trump’s social media corporation is now worth more than Musk’s X after recent surge in ownership worth

recent YORK — Donald Trump’s Truth Social is now worth more than Elon Musk’s X, thanks to a recent run-up in the shares of the parent corporation of the former president’s social media platform.

Trump Media & Technology throng is now valued at over $10 billion after its shares more than quadrupled since late September. Meanwhile, X Holdings is valued at around $9.4 billion, based on the most recent worth the financing apportionment throng Fidelity assigned to its stake in the corporation formerly known as Twitter.

The ownership of Trump Media, or TMTG, tends to shift more with Trump’s re-election odds than on its own boost prospects and investors have seen his chances of retaking the presidency improving of late. On Tuesday, the ownership rose almost 9% to close at $51.51, on top of a 21.6% boost Monday. The ownership was moving so sharply that buying and selling was briefly halted several times during the morning. The ownership had dropped to roughly $12 late last month.

Trump created TMTG after he was banned from Twitter and Facebook following the Jan. 6, 2021, Capitol riot. He owns about 57% of the corporation but has no role in running it.

Based in Sarasota, Florida, TMTG has been losing money and struggling to raise returns. It lost more than $16 million in the quarter ending in June while generating only $837,000 in returns, according to regulatory filings.

When Musk took over Twitter in October of 2022, the corporation was valued at around $44 billion. At that period, Fidelity Investments valued its stake at $19.7 million. In a recent regulatory filing, Fidelity’s high-standard stock Growth pool said its stake in X Holdings was worth about $4.2 million.

Other companies TMTG is now bigger than include: Caesars Entertainment, Match throng, Walgreens Boots Alliance and Hasbro, the maker of the Monopoly game.

Musk has become one of Trump’s most prominent supporters in his bid to get re-elected. The globe’s richest man, Musk has committed more than $70 million to boost Trump and has recently held a number of town halls in back of the former president.