A billion dollars here. A billion dollars there. Soon you are talking about real money.
Shares of Donald Trump’s social media company, Trump Media & Technology Group, surged higher on Tuesday as the company began public trading under the DJT ticker symbol.
The initial appetite for the shares was so strong that it pushed the price up by more than 50 percent, triggering a halt on the Nasdaq. Shares began trading around 9:40 a.m.
By around noon on Tuesday, shares were trading at around $66.65, a 33.3 percent gain on the day. Year-to-date, the shares of the company (formerly trading under the DWAC ticker) are up 281 percent.
Trump’s stake in the company is worth around $5.5 billion, a gain of around $2.5 billion in just a few days.
Bloomberg said that Trump’s Truth Social windfall has made him one of the 500 wealthiest people on the planet.