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Trump Media Is Now Worth Almost as Much as Elon Musk’s X With Stock Rallying to New Highs
Trump Media & Technology Group, which trades under the 'DJT' stock symbol, is currently worth almost as much as Elon Musk's X.
A disclosure last month by Fidelity, which owns a minority stake in X, implied that the company is valued at $9.4 billion, as reported by Forbes. Industry analysts believe the jump in TMTG’s stock price reflects growing enthusiasm among its investors that Trump will win the 2024 presidential election over VP Kamala Harris. TMTG calls Truth Social a “safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations.” Trump formed TMTG in 2021 after the former president had been kicked off Twitter (now called X), Facebook, Instagram, YouTube and other internet platforms, which said he had violated prohibitions against inciting violence in connection with the Jan. 6, 2021, attack on the U.S. Capitol.
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