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Ammon News - US President-elect Donald Trump increased his wealth by $500 million with a single post on the social media site Truth Social.

The shares of Trump Media and Technology Group had been sharply declining after a short spike following his election win last week, but Trump's post on his social media site helped raise the stock once more.

At the start of trading on Friday, the market was following the mantra “buy the rumors and sell the good news,” as Trump Media and Technology Group’s stock fell 42 percent from its recent high on Wednesday. Investors frequently purchase a stock expecting a favorable occurrence for a company, and when it materializes, they sell to reap the rewards of their successful wager.

The shares increased by almost 15 percent afterward.

Trump is the biggest individual shareholder in the company, and his 114.75 million shares are currently valued at roughly $3.7 billion, an increase from $3.2 billion when the market opened on Friday.

Friday's surge allowed the stock to move into the positive for the week, with Trump Media and Technology Group's shares rising by only 4.4 percent in the last five days.