Donald Trump’s media company is now worth more than The New York Times following a recent stock market surge. Trump Media & Technology Group, the parent company of the Republican presidential nominee’s Truth Social platform, is valued at $10.65 billion after its share price increased 12.4% by midday Tuesday.
For comparison, The NYT has a market cap of $9.25 billion; The Times’ shares are up 1.5% during trading on Tuesday.
Trump Media’s stock was halted multiple times on Tuesday, as betting markets favor Trump to beat Democratic nominee Kamala Harris on Election Day next week.
Tuesday’s jump for Trump Media — which trades on the Nasdaq under the DJT ticker symbol — comes after the stock has already been on a red-hot run of late. Over the last month, Trump Media shares have more than tripled, increasing 231% during that time. By midday Tuesday, the stock was trading at $53.34 per share.
The Times, meanwhile, has had a nice year of its own — its stock is up 17% in 2024.
From a macro standpoint, Trump Media’s surge comes at a time when the public trust in mainstream media has cratered. A Gallup survey from earlier this month found only 31% of respondents expressed a “great deal” or “fair amount” of trust in the media to accurately report the news — a new all-time low. In 1976, 72% of Americans felt that way. At the same time, nearly one-third (32%) of Americans regularly get their news from YouTube, up from 23% in 2020, a recent Pew survey noted.
You can read more about how political pundits like David Pakman and Megyn Kelly are racking up big views on YouTube by clicking here.
