President Trump’s net worth balloons to $6.4 billion, joining list of 500 richest people in the world

politics

by Victor Nava

Former President Donald Trump’s net worth jumped to $6.4 billion on Monday after the merger of Digital World Acquisition Corporation and Trump Media & Technology Group Corporation was officially completed, according to a report.

According to the newspaper, 77-year-old President Trump will be included in the Bloomberg Billionaire Index, a list of the world’s 500 wealthiest people, for the first time in history..

The real estate mogul’s previous highest net worth was $3.1 billion.

The successful merger of Trump Media Group and blank check acquisition company Digital World has boosted Trump’s net worth by $4 billion.

Trump Media will begin trading on the Nasdaq exchange under the ticker “DJT,” a nod to the president’s initials and the alleged Republican nominee, the company said in a statement.

Mr. Trump personally owns 58% of the stock in publicly traded companies.

Trump Media’s biggest asset is Truth Social. Truth Social is the social media platform used by the former president (@realDonaldTrump) and has amassed a following of over 6.7 million users.

President Trump launched Truth Social after being suspended from both Twitter and Facebook in 2021 in the wake of the Jan. 6, 2021, riot at the U.S. Capitol.

The significant increase in his assets came at the last minute after the New York Court of Appeals ruled that he could post a significantly reduced bail of $175 million to counter a huge judgment in a civil fraud case. It happened on the same day we won a legal victory.

Trump’s lawyers previously said in court that the former president had approached more than 30 underwriters but was unable to secure an initial deposit of $464 million.

The appeals court gave Trump an additional 10 days to post bail before the state, led by Attorney General Letitia James, begins seizing Trump’s assets.

“I have a lot of cash,” President Trump said at a press conference Monday.

“We’re going to issue cash, bonds, securities, cash, bonds, whatever it is, right away,” he added. “We intend to file a lawsuit immediately and win.”