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Donald Trump has $4.6bn stake in social media group after market debut

Shares of company behind former president’s Truth Social platform rise 16% in first day of trading

Shares in Donald Trump’s social media business jumped in their New York market debut on Tuesday, making the former US president’s stake worth $4.6bn.

Trump Media & Technology Group, the company behind his Truth Social platform, rose as high as $79.38 a share from the previous day’s price of $49.95, before closing up 16 per cent at $57.99. Trading was so volatile that it was halted for several minutes.

TMTG is now listed on the Nasdaq stock exchange under the ticker symbol DJT — Trump’s initials — after completing its merger with blank-cheque company Digital World Acquisition Corp on Monday.

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