Former President Donald Trump's social media company got off to a quick start in its stock market debut Tuesday. Shares of Trump Media & Technology Group, the parent company of Truth Social, shot up more than 50% in its first few minutes of trading. The quick move triggered a trading halt of five minutes, which exchanges use to put a check on volatile stock moves. Shareholders in shell company Digital World Acquisition Corp.
The former president's net worth, at least on paper, is now at over $6 billion, according to Bloomberg. Trump has 10 days to post a $175 million bond for the judgment in his New York civil fraud trial — a sum that was reduced Monday from $464 million. Trump said Friday he has at least $500 million in cash. Any windfall for Trump from DJT stock will take some time.