# How Donald Trump doubled his wealth in the last one year: Truth Social, crypto

Over the past year, former U.S. President Donald Trump has witnessed a remarkable surge in his net worth, attributed primarily to strategic ventures in social media and cryptocurrency. This financial upswing is largely due to the public listing of his media company, Trump Media & Technology Group (TMTG), and his family's foray into the cryptocurrency sector.

Public Listing of Trump Media & Technology Group

In March 2024, TMTG, the parent company of the social media platform Truth Social, completed a merger with Digital World Acquisition Corp., a special purpose acquisition company (SPAC). This merger enabled TMTG to go public, trading under the ticker symbol "DJT" on the Nasdaq Stock Market. The public debut significantly boosted Trump's net worth, with Bloomberg estimating an increase of $4 billion on the day of the merger's completion, bringing his total fortune to approximately $6.5 billion.

Despite its modest financial performance—generating just $3.4 million in revenue and posting a net loss of $49 million over the first nine months of the previous year—TMTG's stock experienced substantial volatility. Shares surged over 20% on the day of the merger's announcement and continued to climb, reflecting investor enthusiasm. However, experts cautioned that the market might be overvaluing TMTG given its financial fundamentals.

Expansion into Cryptocurrency

Parallel to his media ventures, Trump's family expanded into the cryptocurrency domain. Eric Trump and Donald Trump Jr. invested in a bitcoin-mining company through their firm, American Data Centers. This entity merged with American Bitcoin, aiming to become the world's largest bitcoin miner in partnership with Hut 8, a major crypto infrastructure company. The Trump family's involvement in this sector aligns with President Trump's ambition to establish the U.S. as the "crypto capital of the world."

Additionally, the Trump-affiliated company, World Liberty Financial, launched a new digital currency called USD1, a stablecoin pegged to the U.S. dollar. Unlike decentralized cryptocurrencies like Bitcoin, USD1 is centrally managed by World Liberty Financial, granting the company authority to freeze accounts and blacklist transactions. This move has raised concerns among cryptocurrency enthusiasts about potential surveillance and limitations on financial autonomy.

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