As of: March 27, 2024, 2:08 p.m
By: Christian Stör
Comments
Press
Split
Donald Trump loves his network “Truth Social”.
© IMAGO/Jonathan Raa
Donald Trump's media shares are skyrocketing on the US stock exchange Nasdaq.
But the amount is currently only on paper.
New York City – Suddenly everything is going according to plan for Donald Trump.
His chances of returning to the White House are good, he gets more time to pay a million-dollar fine from a fraud trial in New York - and suddenly he is even one of the 500 richest people in the world.
The week definitely got off to a good start for Trump.
In fact, his media company's share price posted significant gains on the first day of trading on the Nasdaq technology exchange.
On the first day of trading (March 26), Trump Media shares temporarily rose by a good 40 percent to more than 70 US dollars.
Overall, his net worth increased by more than four billion US dollars.
And Trump found himself in the Bloomberg Billionaires Index for the first time.
With an estimated fortune of $7.16 billion, he ranked 377th (as of March 27).
The US magazine
Forbes
currently estimates Trump's fortune at $6.4 billion.
Here, too, the curve rose steeply after Trump Media went public.
Donald Trump's new assets so far only exist on paper
However, this money currently only exists on paper.
According to media reports, Trump holds around 60 percent of the shares.
However, major shareholders like him have to hold their equity for six months before they can sell shares.
Until then, all sums are just a book value.
However, it is impossible to predict how the share price will develop in the coming months.
Trump Media is traded on the stock exchange under the abbreviation DJT, the initials of Donald John Trump.
The 77-year-old founded the Trump Media & Technology Group (TMTG) to set up Truth Social.
“I love Truth Social, I love the truth,” Trump said at the start of the stock market on his own online network.
To go public, TMTG merged with the partner company Digital World Acquisition (DWAC).
The merger and IPO will provide the loss-making network with a much-needed cash injection, US media reported.
The shareholders of the corporate shell approved the merger at the end of last week.
My news
Baby happiness after the end of his career: Olympic ski champion becomes a father for the first time a few days after retirement
Bankruptcy of German industry giant: next traditional company goes bankrupt
“Technical problems” with the Leopard: Denmark points to Germany after bumpy Ukraine donation
Prisoner escapes while being treated at the clinic - and is caught two days later after being tipped off
Sweater, park bench, daffodils: The hidden messages in Princess Kate's video reading
“That’s disrespectful”: Civil servants earn as little as citizens’ benefit recipients – and the traffic lights are watching
Trump company is obviously overvalued on the stock market
Experts expect the price of Trump shares to fall in the medium term.
According to a business report, Truth Social only took in just over $3.3 million in the first nine months of last year and made $49 million in lousy money.
Nevertheless, the company is now worth billions on the stock market.
This is hard to explain, even with the hope of rapid growth.
But as long as enough people buy the shares, the price is likely to develop positively.
The foreseeable volatility of the stock is also likely to attract speculators.
Donald Trump has to bear high legal costs
However, Donald Trump is currently making a lot of headlines with numerous lawsuits.
A total of four cases are currently underway against the Republican, who is expected to run against incumbent Joe Biden in the US election in November:
State-level indictment in New York: hush money affair
Federal indictment in Florida: Secret documents affair
State level indictment in Georgia: Attempted election manipulation
Federal indictment in Washington, DC: conspiracy against the United States
Most recently, Trump was found guilty in a civil trial in New York of having artificially inflated the assets of his empire over the years in order to obtain favorable conditions from banks and insurance companies.
The 77-year-old was therefore sentenced in February to a fine of around $355 million plus interest.
However, an appeals court significantly reduced the bail he had to provide from around $454 million to $175 million.
Immediately after the verdict, Trump said he would raise the sum within the set deadline of ten days.
In any case, he is rich enough.
(cs/dpa/afp)