Trump's Truth Social Post Triggers Stock Jump, Increases His Wealth by $500 Million

President-elect Donald Trump’s social media stock saw a significant rebound after a post on Truth Social, reportedly boosting his net worth by $500 million.

After a 42% decline since Wednesday’s peak, shares of Trump Media and Technology Group jumped nearly 15% following Trump’s announcement that he had no intention of selling his stake in the company, refuting rumors of a possible exit. According to CNN, his post helped stabilize the stock’s recent volatility.

“There are fake, untrue, and likely illegal rumors—and possibly statements from market manipulators or short sellers—that I am considering selling shares of Truth. THESE RUMORS AND STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!” Trump wrote.