Trump Media & Technology Group, which operates the social media network Truth Social, now trumps the estimated value of Elon Musk's X as Election Day looms.

Trump Media & Technology Group (TMTG) is now valued at over $10 billion after its shares more than quadrupled since late September. 

Meanwhile, X Holdings, which was taken private two years ago, is valued at around $9.4 billion, based on the most recent value the investment group Fidelity assigned to its stake in the company.

Truth Social's worth has soared in recent weeks as Nov. 5 nears. On Tuesday, the stock rose almost 9% to $34.17.