Former U.S. President Trump arrives at 40 Wall Street after a court hearing to set the date for his trial for allegedly covering up hush money payments related to an extramarital affair in New York City on March 25, 2024.
Charlie Triballo | AFP | Getty Images
Donald Trump faces hundreds of millions of dollars in legal penalties, his presidential campaign faces a cash crunch and his businesses report poor performance loss for many years.
But on Monday afternoon, Trump was richer than ever.
According to data, Trump’s net worth has surged by more than $4 billion in recent days, reaching about $6.5 billion. Bloombergwhich repertoire The 500 richest people in the world.
The huge sum comes as Trump’s social media company, Trump Media & Technology Group, and a shell company, Digital World Acquisition Corp., approved a merger on Friday. Devak.
Trump owns nearly 80 million shares, or about 58%, of Trump Media, which operates his social media website Truth Social.Calculated based on DWAC Monday’s closing price $49.95 per shareTrump’s stock is worth $4 billion on paper.
The newly merged social media company said it would begin trading on Tuesday under the ticker symbol DJT.
Shares of DWAC soared 35% in Monday trading after a New York appeals court slashed the amount of cash Trump needs to obtain a bond, sparing him from paying an immediate $454 million civil fraud fine.
Earlier on Monday, Trump appeared unable to come up with more than $550 million in bonds to prevent the government from seizing his real estate assets.
Just after 10 a.m., the appeals court ruled that Trump only had to pay bail of $175 million. The court also suspended the sentence for 10 days.
Trump said he has enough cash to pay for the bond.
Trump, 77, was included in the Bloomberg Billionaires Index for the first time on Monday due to media consolidation and adjusted bonds, according to news outlets.
However, it’s unclear whether Trump’s wealth will remain this high. Trump is not allowed to sell his DWAC stock for six months, and the stock’s stock price has a history of volatility.
Trump Media’s revenue in the first nine months of 2023 was less than $3.5 million, while it had a net loss of $49 million during the same period.
MSNBC’s Stephanie Rule Friday describe Trump’s media company relies heavily on one person as a meme stock: Trump.
Bloomberg said its estimate of Trump’s net worth was based on ethics revelations required of presidential candidates, public filings related to key real estate holdings and staff reports.
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