Trump’s Media Empire Sees Dramatic Surge Ahead of Inauguration

Market Surge: Trump Media Stock Soars Ahead of Inauguration

As the countdown begins to President-elect Donald Trump’s inauguration, shares of Trump Media have experienced a significant surge, jumping over 14% in midday trading on Monday. This marks the company’s best performance since November 18, when news broke about its advanced talks to acquire cryptocurrency trading firm Bakkt, causing shares to skyrocket by 16.65%.

Tech Giants Back Trump’s Inaugural Fund

Major tech companies and executives have shown their support for Trump’s inauguration, with donations pouring in from industry giants like Google, OpenAI CEO Sam Altman, and Meta, each contributing $1 million. Apple CEO Tim Cook and others have also reportedly made significant contributions to the inaugural fund.

Trump’s Ties to Trump Media

Although Trump no longer holds an executive position in Trump Media, he remains the largest individual shareholder through a revocable trust. The trust, of which Trump is the sole beneficiary, was established when he transferred his entire stake in the company late last year. His son, Donald Trump Jr., serves as the trust’s sole trustee, wielding sole voting and investment power over the shares.

Truth Social Platform Sees Market Capitalization Soar

As of Monday, Trump Media’s market capitalization exceeded $8.7 billion, with its stock price increasing by a staggering 218% since September 23. This remarkable growth follows the end of a “lockup” period that previously restricted company insiders from selling their stakes.

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