Trump Media Surpasses Elon Musk's X Holdings’ Value, Fueled By Presidential Campaign

Benzinga 2024-10-30

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Trump Media & Technology Group surpassed Elon Musk's X Holdings in estimated value, now worth over $10 billion. TMTG shares have quadrupled since late September, with Trump’s 57% stake climbing to almost $4 billion. While TMTG's Truth Social lags in user traffic, its market value continues to rise as Election Day nears. Speculators see TMTG as a bet on Trump’s potential win. Musk, endorsing Trump over the summer, has actively supported the campaign, rallying in Pennsylvania and contributing over $70 million.

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