It is uncertain whether the electoral god will smile on Donald Trump on November 5 in the upcoming US presidential polls, but the god of fortune is already smiling on him. According to the Bloomberg Billionaires Index, Trump, who is famously reluctant to disclose his tax returns, and income, has returned to the elite list, where he figured on the 481 position in richest 50, for the first time since August 6 this year.
According to reports, the value of the former president and Republican presidential candidate Donald Trump at the end of the third week of October stood at its highest level since July 22 – a date politically significant for Trump since incumbent US president Joe Biden announced that he was ceding the Democrat candidature to vice-president Kamala Harris.
Donald trump’s net worth on October 22
On Tuesday, October 22, 2024, Donald Trump’s wealth was stated to be $6.5 billion. Trump’s position in the list was secured by the rise in stock prices of his firms, which seemed to mirror his political fortunes in the betting markets. The stock mainly being referred to here is those of Trump Media & Technology Group, which owns Truth Social.
Forbes magazine, which famously keeps track of the wealth of the wealthiest, has estimates that the net worth of Donald Trump was around $6.7 billion in June 2024.
Meteoric rise in stock price
In less than a month the stock price of Trump Media & Technology Group appreciated three-fold. The stock prices of this company have been keenly followed not only in the US but around the world, since many believe that it could serve somewhat as a proxy of the political fortunes of Trump in the elections of November 5. The Trump Media and Technology Group which runs social media platform Truth Social is also a big source of wealth for Trump.
Inherited father’s real estate business
Some reports have stated that Trump’s wealth jumped from $4.6 billion in 2023 to $7.7 billion in June 2024. Donald Trump has cemented his position as a real estate tycoon, expanding the business he inherited from his father Fred Trump (1905-1999). Donald took over the reins in 1976. The Trump Organisation is a private company and is not legally obliged to disclose its financial position as a listed firm.
