DJT Stock Went Nuclear. Here’s How Much the Trump Family Made.

Trump Media stock surged 42% on Thursday, driving up the value of the Trump family’s stake in the social-media company by about $500 million. (Allison Robbert/Getty Images)

Key Points

• Trump Media & Technology’s stock surged 42% to $14.86 on Thursday, boosting the Trump family’s wealth by over $500 million.
• Trump Media will merge with TAE Technologies in an all-stock transaction valued at more than $6 billion.
• The combined company plans to build fusion power plants, with a 50-megawatt plant next year and larger plants supplying 350 to 500 megawatts.

Trump Media & Technology is about to pivot to nuclear fusion—and the Truth Social parent’s unusual merger with TAE Technologies has already boosted the first family’s wealth, by about half a billion dollars.

Shares in Trump Media, which trade under the ticker DJT in a reference to President Donald Trump’s initials, surged 42% to $14.86 on Thursday. The stock climbed another 2.8% to $15.28 early Friday.

The Trump family indirectly owns nearly 115 million DJT shares, held in a revocable trust in the name of the president’s eldest son, Donald Trump Jr. The position was worth $1.71 billion as of Thursday’s close, up from $1.20 billion on Wednesday, which means its value rose by more than $500 million in a day.

Created with Highcharts 9.0.1Trump Media & Technology GroupSource: FactSetAs of Dec. 22, 4 p.m. ET

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The stake used to be worth a lot more, though: At its peak in May 2024, it was valued at $6.5 billion. For much of 2024, DJT shares traded as a proxy for Trump’s chances in the November 2024 election. This year, they are down 56%—even after Thursday’s jump—because Trump Media’s $2 billion bet on Bitcoin has gone sour.

The deal announced on Thursday will see Trump Media and TAE merge in an all-stock transaction valued at more than $6 billion.

If the deal is approved by regulators, the combined company would start building fusion power plants to supply the electricity needed to power the U.S. push into artificial intelligence. The companies are planning to start work on a 50-megawatt utility-scale fusion power plant next year, and additional fusion power plants supplying 350 to 500 megawatts.

Under the terms of the merger, TAE and Trump Media shareholders will each own about 50% of the combined company. As of Aug. 22, the revocable trust owned about 41% of Trump Media, according to FactSet data.

Write to George Glover at george.glover@dowjones.com