June 16, 2024

Trump’s Net Worth Surges to $6.5 Billion as Truth Social Merges with Publicly Traded Company

1 min read
Trump’s Truth Social Agreement Elevates Him to One of the World’s 500 Wealthiest Individuals

After recently gaining a significant boost in his net worth, former President Donald Trump has been making headlines. This positive development came after the merger of his social media platform, Truth Social, with a publicly traded company. As a result, he is now ranked among the 500 richest people in the world with a net worth of $6.5 billion.

Despite facing legal challenges such as a civil fraud case in New York, this recent decision by the New York appeals court to reduce his bond from $454 million to $175 million has given him some relief. His lawyers had previously indicated that he could not secure the larger bond amount.

Trump has heavily invested in Truth Social, owning billions of dollars worth of shares in its parent company, Trump Media & Technology Group. The merger of a shell company created to acquire Trump Media & Technology Group has provided him with much-needed financial support as he navigates legal hurdles.

The debut of Trump Media & Technology Group on the New York Stock Exchange under the ticker symbol “DJT” saw an impressive surge in share prices, with a 36% increase in early afternoon trading. Shares were valued at around $68, up from an initial jump of 56% to $78. This success is attributed to Truth Social’s growing user base of approximately 5 million users and an estimated valuation of over $5 billion.

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