Net Worth Surges to Over $6.5 Billion
Inclusion in Bloomberg Billionaires Index for the First Time
Substantial Reduction in Court Deposit Related to Real Estate Loans
Former U.S. President Donald Trump has made his debut among the world’s top 500 wealthiest individuals, owing to the listing of his social media platform, Truth Social.
As reported by Bloomberg on the 25th (local time), Trump Media and Technology Group (TMTG), the parent company of Truth Social, is set to commence trading on the New York Stock Exchange on the 26th, facilitated by a merger with Digital World Acquisition (DWAC), a Special Purpose Acquisition Company (SPAC). TMTG has officially notified the U.S. Securities and Exchange Commission (SEC) of the completion of all legal procedures for the SPAC merger.
With an approximate 60% ownership of TMTG shares, former President Trump is anticipated to see his net worth rise to $6.5 billion (approximately 8.71 trillion won) following the listing. This represents an increase of over $4 billion from his previous valuation, effectively securing his position among the world’s top 500 wealthiest individuals according to the esteemed Bloomberg Billionaires Index. Notably, Trump’s previous peak net worth was $3.1 billion, making this valuation more than double that amount.
In addition to this development, the New York Court of Appeals has notably reduced Trump’s bail obligation in a civil trial related to allegations of ‘real estate inflation fraud loans.’ The bail amount has been reduced from $454 million to $175 million, offering considerable relief amidst ongoing legal proceedings. Should Trump fulfill the bail payment within 10 days, he will be exempt from the $454 million fine imposed during the initial trial, and any potential asset seizures will be deferred.
The New York Times (NYT) has commented, “This decision is expected to provide substantial assistance to Trump in averting financial turmoil,” emphasizing, “The court’s intervention has effectively provided him with a lifeline.”
Most Commented