On Monday, Donald Trump’s net worth soared to $6.4 billion following the completion of the merger between Digital World Acquisition Corp. and Trump Media & Technology Group Corp., reports indicate. This financial leap marks Trump’s inaugural entry into the Bloomberg Billionaires Index, positioning him among the globe’s 500 richest individuals.
Trump Media’s stock, symbolized as “DJT” in homage to the former president’s initials, is set to make its debut on the Nasdaq exchange on Tuesday, as announced by the company. This significant milestone reflects a remarkable increase from Trump’s previous highest net worth of $3.1 billion.
The merger between Trump’s media conglomerate and the special purpose acquisition company, Digital World, has resulted in a $4 billion boost to Trump’s net worth. Trump Media, which is about to be publicly traded, sees Trump holding a 58% personal stake.
At the heart of Trump Media lies Truth Social, a social media platform led by Trump, who boasts over 6.7 million followers under the handle @realDonaldTrump. The platform was launched by Trump following his suspension from Twitter and Facebook in the wake of the January 6, 2021, Capitol riot.
On the same day as this financial windfall, Trump also secured a legal triumph. A New York appeals court allowed him to post a significantly reduced bond of $175 million to contest a substantial civil fraud judgment. This decision came after Trump’s legal team disclosed their unsuccessful attempts to secure the original $464 million bond amount, despite reaching out to over 30 underwriting firms.
The appellate court has granted Trump an additional 10 days to post the bond, during which time the state, under Attorney General Letitia James, is barred from seizing his assets.
Trump expressed confidence in his financial standing during a press conference, stating, “I have a lot of cash.” He assured that the necessary funds, whether in cash, securities, or bond, would be promptly arranged to contest the case, which he is optimistic about winning.