Trump Media & Technology Group (TMTG), the parent company of Truth Social, has surged to a valuation exceeding $10 billion following a recent stock increase. This places it ahead of Elon Musk’s X Holdings, which is currently valued around $9.4 billion based on Fidelity’s latest assessment. TMTG shares have climbed sharply, influenced by Trump’s improving re-election odds, jumping nearly 32% over two days and briefly halting trading due to high volatility.
Created after Trump’s social media bans in 2021, TMTG has faced financial challenges, losing over $16 million in the recent quarter with limited revenue generation. Trump owns 57% of TMTG but does not participate in its operations.
In comparison, Musk’s X Holdings, acquired in 2022 for $44 billion, has since dropped significantly in valuation. Musk has actively supported Trump’s re-election bid, including significant financial contributions and hosting recent town halls.
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