Trump's Truth Social now worth more than social media company X

Trump Media & Technology Group is now valued at over $10 billion, according to the Associated Press, which is more than quadruple what it was worth last month. X is worth an estimated $9.4 billion

By Misty Severi

Published: October 29, 2024 7:49pm

Former President Donald Trump's social media company Truth Social is now worth more than ally Elon Musk's X, after its parent company, Trump Media, experienced a surge in trading.

Trump Media & Technology Group is now valued at over $10 billion, according to the Associated Press, which is more than quadruple what it was worth last month. X is worth an estimated $9.4 billion.

The stock rose by nearly 9% on Tuesday, and was worth $51.51 at its close at 4 p.m. The increase is on top of a 21.6% surge on Monday. The changes prompted trading to pause several times on Tuesday, beginning at 9:36 a.m., 9:42 a.m., 9:50 a.m., 10:21 a.m. and 10:31 a.m.

Trump has no role in running the social media company, or the Trump Media & Technology Group, but he founded Truth Social after he was banned on Twitter (now X) and Facebook after the January 6 riot in 2021. He still owns approximately 57% of the company.

Misty Severi is an evening news reporter for Just The News. You can follow her on X for more coverage.