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Fortune

Paolo Confino

Trump Media soars to $10 billion market cap, overtaking the value of X, which has hundreds of millions more users

Donald Trump TMTG X Elon Musk United States Truth Social

X owner Elon Musk and former President Donald Trump (Credit: Justin Merriman/Bloomberg via Getty Images)

Donald Trump’s fledgling social media company Truth Social is now worth more than X, formerly known as Twitter.

Thanks to a stock price that’s soaring in the final days before the election, the market cap of the Trump Media and Technology Group (TMTG) now exceeds that of X, which owner Elon Musk took private in October 2022. In late September, TMTG’s stock sat at an all-time low of $12.15. Since then, the stock’s price rose 345% as Trump’s political chances improved.

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