Trump’s Social Media Company is Now Worth More Than Musk’s X After Recent Surge in Stock Price

CHARLOTTE, NORTH CAROLINA – JULY 24: U.S. Republican Presidential nominee former President Donald Trump speaks to attendees during his campaign rally at the Bojangles Coliseum on July 24, 2024 in Charlotte, North Carolina. The rally is the former president’s first since President Joe Biden announced he would be ending his reelection bid. (Photo by Brandon Bell/Getty Images)

NEW YORK (AP) — Donald Trump’s Truth Social is now worth more than Elon Musk’s X. That’s thanks to a recent run-up in the shares of the parent company of the former president’s social media platform. Trump Media & Technology Group is now valued at over $10 billion after its shares more than quadrupled since late September. Meanwhile, X Holdings is valued at around $9.4 billion, based on the most recent value the investment group Fidelity assigned to its stake in the company formerly known as Twitter. Musk has become one of Trump’s biggest supporters in his bid for re-election.