Rubbish Check
Forbes Business · July 30, 2026 source

“Trump Media’s Nearly 50% Rally Adds $600 Million To President’s Net Worth”

R4/ 10
Selective
Rubbish Rating — 1 = base fact, 10 = pure rubbish
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In short
Rubbish Talk rates Forbes' claim that a "nearly 50% rally" added $600 million to Trump's net worth a 4/10 because the headline omits, though the article body discloses, that Trump Media shares remain down 21.9% year-to-date and roughly 85% below their 2024 Nasdaq debut price.
The Verdict
Selective. The individual numbers check out and Forbes even publishes the offsetting context itself, but only in the body, not the headline. Leading with a rebound off an all-time low without flagging that the stock is still deeply underwater year-to-date and versus its debut price is the flattering-angle cherry-pick that defines this band.

What actually happened

Trump Media shares closed up 5.5% to $10.39 on Thursday, extending a rally of roughly 48% off the all-time low the stock hit in June, when it briefly dipped below $7. Forbes attributes some of the momentum to the company's newly announced Truth API, a paid real-time data feed of Trump's Truth Social posts for trading firms, and estimates the rally added $600 million to its own valuation of Trump's net worth.

Key facts

  • Shares closed at $10.39, up 5.5% on the day the article was published.
  • The stock is up roughly 48% since its all-time low in June (below $7).
  • Forbes' own figures, in the same article, show shares are still down 21.9% since January 2026, when the stock traded around $13.77.
  • Trump Media debuted on Nasdaq at $70.90 per share in 2024; Thursday's close is about 85% below that.
  • Trump Media lost $712 million in full-year 2025, with advertising revenue of just $3.7 million.
  • Other coverage of the same week: Trump Media saw a week-on-week stock price increase of 13.1%, as investors loaded up on shares amid optimistic revenue prospects, and separately its stock fell about 0.4% following the [Truth API] announcement, reflecting cautious market sentiment, particularly as the stock has already declined approximately 30% this year, showing the rally narrative isn't the only read on the same data.

What to watch for

  • Truth API launches August 1; actual signed-customer revenue (not just the $100,000/month sticker price floated) will determine if the rally has fundamentals behind it or is pure speculation on Trump's posting habits.
  • Watch whether follow-up coverage keeps citing the rally in isolation or catches up to the YTD and since-IPO context Forbes buried below the headline.
About this scoreThe R-Score is Rubbish Talk's editorial opinion on how far a headline's framing sits from what the underlying facts support. It is a judgement about presentation and emphasis, not an allegation that any outlet has acted dishonestly. Every figure we rely on is linked under Receipts so you can check it yourself.
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