Trump Sees a Surge in Wealth, 2024 Chances

In a few short days, the assassination attempt on former President Trump has boosted his wealth and his chance of securing the presidency for a second time. The Economist's prediction model now has Trump with a 75% chance of winning the November election, CBS News reports. "[T]he events of the past few weeks—Joe Biden's shockingly poor debate performance, followed by Saturday's attempted assassination of Donald Trump—all but guarantee a strong Republican performance," Louis Vincent Gave, CEO of investment research firm Gavekal, says in a report.

This outlook comes in part from comparisons between Saturday's attempt on Trump's life and the 1981 shooting of President Ronald Reagan. After Reagan was shot, his "popularity catapulted amidst a double-dip recession," Ben Emons, chief investment officer at FedWatch Advisors, tells CNBC. Amid "the current strong economy, former President Trump's favorability will likely skyrocket and impact markets positively."

That conviction was reflected Monday in a huge boost for Trump's own company, Trump Media & Technology Group, owner of Truth Social. Its stock soared 50% in premarket trading Monday and was up 32% shortly after markets opened, reversing "a six-week slump," CBS News reports. That added $1.9 billion to the company's market value and $1.2 billion to Trump's own wealth. Cryptocurrency stocks saw a bump, too, given that Trump is a "crypto-friendly candidate," per CNBC. Bitcoin climbed 5% Monday to $62,781.48, a two-week high, bitcoin mining facility Riot Platforms jumped 5.25%, and cryptocurrency exchange platform Coinbase Global rose 4.5%. (More Trump rally shooting stories.)