President Donald Trump saw a significant increase in his net worth, with shares of Trump Media & Technology (NASDAQ:DJT) surging on Thursday after the company announced a merger with TAE Technologies valued at $6 billion.
Media Deal Could Benefit From Political Support
According to Forbes, Trump’s net worth rose by $504 million in a single day due to his majority ownership of Trump Media and Technology Group, which is currently managed by his Donald J. Trump Revocable Trust.
Forbes now estimates his wealth at $6.8 billion.
Trump Media’s stock closed 41.93% higher at $14.86 on Thursday. Under the all-stock deal, Trump Media will become the holding company for TAE and its subsidiaries, including Truth Social, the Truth+ streaming service, and the planned financial services platform Truth.Fi. On a year-to-date basis, the stock declined 56.32%, as per data from Benzinga Pro.
Wedbush analyst Dan Ives said the deal positions the combined company as a potential first publicly traded fusion player, highlighting TAE’s decades-long fusion expertise, technological breakthroughs, and leading position in global fusion development.
The analyst stated that strong U.S. political support could also benefit the company by speeding up domestic fusion development.
Crypto And Media’s Impact On Trump’s Net Worth
Trump Media’s stock had previously plummeted, causing a significant drop in the U.S. leader’s net worth. Last month, Trump’s net worth fell by over $1 billion.
Trump’s net worth had risen by $3 billion over the past year, largely driven by the Trump family’s crypto holdings, including their World Liberty Financial venture, which attracted a $75 million investment from crypto entrepreneur Justin Sun.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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