Donald Trump’s net worth has been a rollercoaster in 2024, reflecting a year of historic highs and dramatic dips. Despite facing legal hurdles and even an assassination attempt, the former president-turned-media mogul managed to emerge wealthier than ever.
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What helped him? A memorable election win and the public debut of Trump Media & Technology Group (TMTG) proved crucial in reshaping his financial landscape. Currently, the 78-year-old is back on the 2024 Forbes 400 list, where he ranks 319th.
Trump’s net worth: The significant increase it has seen in 2024
As the year began, Trump’s net worth was estimated at $2.5 billion and as of December 2024, Trump's net worth is estimated to be around $6.1 billion. By December 16, it was $6.51 billion, but it slightly changed when Trump put his stakes from TMTG into a private trust.
Throughout 2024, Trump's financial portfolio has significant highs and lows.
Trump saw a decline in his net worth post his first term and was dropped from the Forbes 400 list in 2021—for the first time in 25 years. This was mostly due to his legal battles and subdued business valuations. However, a game-changing event in March 2024 reshaped his finances: TMTG went public, driving his net worth to $6.4 billion almost overnight.
After the incredible high, Trump’s fortune swung wildly. By April, it plummeted to $3.67 billion after TMTG’s stock briefly hit bottom. However, by May, Trump’s net worth skyrocketed to an all-time high of $8.1 billion. This came after TMTG shares reached a new popularity. The infamous Stormy Daniels casedecreased $300 million in his wealth and brought him down to $7.5 billion by the end of May.
October witnessed another peak and Trump’s net worth reached $8 billion, thanks to his rising popularity in the election. As of December 2024, Trump closed the year with a stable $6.1 billion net worth, reports The Independent. He is now the 530th richest person in the world.
Key factors that influence Trump’s net worth through the year 2024
From significant gains to notable declines, a few key events of Trump’s life in 2024 have been instrumental in helping him increase his net worth from $2.5 billion to $6.1 billion (as of December 23). Here’s what they are:
TMTG’s public debut
The public listing of TMTG in March was the cornerstone of Trump’s financial comeback. Shares initially surged 56%, pushing his net worth from $2.3 billion to $6.4 billion. Despite its critics calling the valuation unsustainable, as per CNN, the stock’s performance gained immense popularity amongst investors.
Legal battles
Trump faced numerous legal challenges this year, including convictions in the hush money trial and the E. Jean Carroll case. In May, when Trump’s net worth reached an all-time high ($8.1 billion), a jury also found him guilty of abusing Elle magazine writer E. Jean Carroll. He reportedly gave her $5 million in damages. Despite these setbacks, his net worth stayed above $5 billion the entire month.
Assassination attempt
Possibly the most dramatic point of Trump’s life this year was in July. The assassination attempt during a Pennsylvania rally paradoxically sparked a surge in TMTG’s share value. The unexpected market reaction added more than $1 billion to his net worth.
Election victory
Lastly, Trump’s presidential win in November immediately impacted his net worth. TMTG shares hiked up right after he won and took his net worth to $6.2 billion by the next day. The entire month of November saw his net worth consistently around $5.1 billion and higher.
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Sources used:
Forbes: Trump's Net Worth Rose $3.6 Billion This Year—Despite Wild Fluctuations In His Wealth
The Independent: Trump’s net worth rose by billions this year despite legal challenges and a wild stock market. Here’s what it is now.
CNN: Trump’s Truth Social is now a public company. Experts warn its multibillion-dollar valuation defies logic
