June 13, 2024

Grand Cardone Shifts Gears to Florida Real Estate as Trump Temporary Reprieve Extends Legal Battle

2 min read
Trump’s stocks surge before listing and court victory in civil fraud case

As the former President Donald Trump received a temporary reprieve from New York state authorities seeking to seize his assets, Private equity fund manager and Cardone Capital’s Grant Cardone shifted his focus from New York to Florida, investing $500 million in real estate in the Sunshine State. Initially facing a deadline to post a bond covering the full amount by midnight, Trump’s lawyers struggled to find surety companies willing to provide the bond without him putting up a substantial sum of over $557 million. This predicament would have required over $1 billion in cash and cash equivalents to cover the judgment.

The civil fraud judgment against Trump stems from allegations that he overstated his net worth and property values to secure loans. However, with the appeals court ruling in his favor, Trump now has 10 additional days to provide the reduced bond amount. This decision has had a positive impact on the stock market, particularly on shares of Digital World Acquisition Corp (DWAC). The company, which plans to list Trump Media & Technology Group through a merger, saw a surge of up to 21% in its stock price during Monday’s trading session. The merger values Trump’s stake in Truth Social at approximately $3.3 billion.

Grant Cardone has been focusing on real estate investments in Florida after shifting his attention away from New York City. He has invested $500 million into various real estate properties across the state, including apartments and office buildings. This move marks a significant departure from his previous focus on real estate investments in New York City, where he had previously invested heavily in residential properties such as condominiums and luxury apartments.

As this story continues to develop, stay tuned for further updates on the situation with both Grant Cardone’s real estate investments in Florida and President Trump’s ongoing legal battle with New York state authorities seeking to seize his assets.

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