Politics
Former President Donald Trump’s net-worth jumped to $6.4 billion on Monday after the merger between Digital World Acquisition Corp. and Trump Media & Technology Group Corp. was officially finalized, according to a report.
For the first time ever, Trump, 77, will be listed on the Bloomberg Billionaires Index of the world’s wealthiest 500 people, according to the outlet.
The real estate mogul’s previous peak net-worth was $3.1 billion.
Trump’s net-worth ballooned by $4 billion after the successful merger between his Trump Media group and blank-check acquisition company Digital World.
Trump Media will begin trading on the Nasdaq exchange under the ticker “DJT,” a nod to the presumptive Republican nominee for president’s initials, the company said in a statement.
Trump has a 58% personal stake in the publicly traded entity.
Trump Media’s largest asset is Truth Social, the social media platform where the former president – going by @realDonaldTrump – has amassed a following of more than 6.7 million users.
Trump launched Truth Social after being suspended from both Twitter and Facebook in 2021 in the aftermath of the Jan. 6, 2021, riot at the US Capitol Building.
His vast increase in wealth comes on the same day he snagged a last-minute legal victory when a New York appeals court ruled he could post a drastically reduced bond of $175 million to fight the massive judgment in his civil fraud case.
Trump’s lawyers previously told the court that the former president failed to secure the initial $464 million bond amount despite approaching more than 30 underwriting firms.
Follow along with The Post’s coverage of former President Donald Trump’s search to find a loan for his $175 million bond payment
The appellate court has given Trump another 10 days to post the bond before the state, led by Attorney General Letitia James, can begin to seize his assets.
“I have a lot of cash,” Trump said during a press conference Monday.
“We’ll put up cash or bond very quickly, securities, cash, or bond, whatever it is,” he added. “We’ll put it up very quickly and we’ll win the case.”
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Barbara Terrio is a seasoned business journalist, delving into the world of finance, startups, and entrepreneurship. With a knack for demystifying complex economic trends, she helps readers navigate the business landscape. Outside of her reporting, Barbara is an advocate for financial literacy and enjoys mentoring aspiring entrepreneurs.
