The bonanza was the result of a merger approved Friday between Trump's social media company, Trump Media & Technology Group, and a shell company, Digital World Acquisition Corp., known as DWAC .
Trump owns nearly 80 million shares, or roughly 58%, of Trump Media, which operates his social media site Truth Social.
At DWAC's closing price Monday of $49.95 a share , Trump's stock was worth $4 billion on paper.
The newly merged social media company said it will begin trading Tuesday under the ticker symbol DJT.
MSNBC's Stephanie Ruhle on Friday described Trump's media company as a meme stock largely dependent on one man: Trump.
Persons:
Donald Trump, Trump, MSNBC's Stephanie Ruhle
Organizations:
Trump Media & Technology Group, Bloomberg, Trump, Trump Media
Locations:
New York City, York