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.
Trump, 77, will be named to the Bloomberg Billionaires Index, a survey of the world’s 500 wealthiest people, for the first time. According to the outlet.
The real estate mogul’s previous highest net worth was $3.1 billion.
Trump’s net worth has increased by $4 billion after the successful merger of 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 president’s initials and the company associated with the Republican nominee. stated 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 a social media platform where the former president (also known as @realDonaldTrump) 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.
His massive increase in wealth has come at the last minute, with the New York Court of Appeals ruling 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.
Follow the Post’s report that former President Donald Trump is seeking a loan to pay off $175 million in bonds.
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.”
