Topline

Former President Donald Trump’s net worth doubled this month, from less than $4 billion in early October to $8 billion Tuesday, coinciding with a multi-week rally by his media company, Trump Media & Technology Group, as he has grown one the betting favorite in the presidential elections.

Key facts

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Tangent

Betting platform Polymarket gives Trump a 66% chance of winning the election. His chances have improved significantly since the beginning of the month, when he and Vice President Kamala Harris were nearly tied. Most polls show Trump and Harris nearly evenly split among the seven battleground states expected to determine the outcome of the election, and major election forecasts suggest the race is a toss-up.

Important background

Trump’s net worth is tied to the volatility of Trump Media stock, which is just five weeks removed from a low of $12.15. Since then, Trump Media’s shares have quadrupled and soared after Trump vowed not to sell his roughly 57% stake in the company. The stock has essentially returned to the highs of May and March, the last month in which Trump Media debuted on the Nasdaq.

Read more

Trump’s polymarket election odds are 65% higher – as site explores big bets (Forbes)

Donald Trump’s Net Worth Rises by $460 Million as Trump’s Media Stocks Rise (Forbes)