Trump Media shares rally nearly 50%, boosting President Trump's net worth by $600M

Shares of Trump Media & Technology Group, owner of Truth Social, rose 5.5% to $10.39, continuing a 48% rally since June's low below $7. The surge follows the announcement of Truth API, a new service offering real-time posts from top Truth Social accounts to financial firms, potentially priced at $100,000 per month. This could diversify the company's limited revenue, which mainly comes from advertising. The launch is set for August 1, and the rally increased Trump's net worth by $600 million to an estimated $6.5 billion.