Former President Donald Trump became the world’s richest man with a net worth of more than $6 billion on Monday after his social media company Trump Media & Technology Group (TMTG) completed a more than two-year merger process. It is said that he became one of the characters.
TMTG completed the merger on Monday. Breitbart News’ John Carney reported that the newly formed company’s shares will trade on the Nasdaq on Tuesday under the new ticker symbol DJT.
The deal is a windfall for Trump, who owns more than 60% of TMTG stock. He is expected to own about 58% of the combined company, which could be worth about $3 billion at recent market prices.
Trump’s shares are subject to a six-month lockup that prevents him from selling them or pledging them as collateral for a loan, a standard provision in many initial public offerings and SPAC transactions. is. But the board could lift the lockup to allow him to pledge his stock to support an appeals bond in a fraud judgment against him in New York.
The successful merger and rising stock price have earned the former president a spot on Bloomberg’s list of the world’s 500 richest people, Bloomberg reported on Monday.media organization Estimation Trump’s net worth is $6.4 billion.
Trump’s increase in wealth comes at a pivotal moment. Two judges previously fined President Trump just under $500 million in two separate cases.
Additionally, the New York Court of Appeals ruled Monday that President Trump must post $175 million bail within 10 days to appeal a civil fraud judgment worth $464 million. was lowered. President Trump told reporters his bond will be backed by cash.
“I am honored to be able to post [the bond],” He said.
.@RealDonaldTrump: “I highly respect the Appellate Division’s decision and intend to promptly post $175 million in cash or surety bond, if necessary, within 10 days.” https://t.co/8zB02YeFuc
— Breitbart News (@BreitbartNews) March 25, 2024
President Trump: “I highly respect the Appellate Division’s decision and will promptly post $175 million in cash or surety bond, if necessary, within 10 days.” Added“While we appreciate the Appellate Division’s swift action, Judge Engoron is an embarrassment to this country and this should not be tolerated.”
“This is all about election interference. This is all run by Biden…I mean Biden and his thugs, because I don’t know if he knows he’s alive,” Trump said. Told. “We can’t win an election because of border issues, energy prices, inflation, and Afghanistan,” Biden said. “So what they’re doing is interfering with the election.”
Wendell Husebo is a political reporter for Breitbart News and a former Republican war room analyst.he is the author of politics of slave morality.Follow Wendell “X” @WendellHusebø or society of truth @WendellHusebo.
