Truth Social, Trump's social media company, is worth more than Musk's X erstwhile Twitter after stock surge

Elon Musk has been steering the ship of his social media platform, X, quite well over the past year, but that does not stop Donald Trump's Truth Social platform to cross its current worth. The former US President's platform is currently one of the most popular social media platforms on the Internet, with a wide following in the United States. Trump Media & Technology Group that is backing Truth Social at this point, is currently valued at over a whopping 10 billion dollars and its shares have increased in value by over four times until late September this year, says an AP report.

Is Truth Social suddenly taking on Elon Musk's X?

This could be majorly because of the ongoing US election race where the Republican Presidential candidate is also the owner of the Truth Social platform, something that could be a contributing factor in this exponential rise in valuation.

Also Read: This election strategist says Trump will win U.S elections if he wins either in Georgia, Pennsylvania or Michigan


With Trump's prospects in the US elections increasing over time, Trump Media, or TMTG's future is looking even brighter and there are strong profit prospects by the end of the year. Reports claim that the stock was moving upwards so shortly the trading had to be briefly halted several times in the morning, which is a major improvement from the time this very stock had dropped to a major dip last month.

Elon Musk's X has tried to maintain its pace with Trump's Truth Social in this election scenario, and even included a few Trump interviews on its Spaces, but has reportedly not been able to achieve any major results, as Truth Social kept extending its lead in terms of valuation.

Also Read: Donald Trump reacted unexpectedly after US president called his supporters ‘garbage’

FAQs:

Is Elon Musk the owner of X?
Elon Musk is presently the head and owner of X, which was previously known as Twitter. Mush had acquired X in the previous years, and is now giving his own fine tuning to it.

Is Donald Trump's following strong on Truth Social?
Being his own platform, Truth Social is currently giving Donald Trump the due and necessary hike in recent times, especially amid the ongoing US election race.