Despite facing significant legal challenges and financial setbacks, former President Donald Trump’s net worth has surged to a record $6.5 billion.
This increase comes on the heels of a successful merger between Trump’s social media company, Trump Media & Technology Group, and Digital World Acquisition Corp. (DWAC).
The merger, which was approved on Friday, catapulted Trump’s net worth by more than $4 billion in just a few days, according to Bloomberg.
Trump owns nearly 80 million shares, approximately 58% of Trump Media, the company behind the Truth Social platform.
With DWAC’s closing price reaching $49.95 per share on Monday, Trump’s stake in the newly merged entity was valued at $4 billion.
This surge in wealth marks Trump’s inclusion in the Bloomberg Billionaires Index for the first time in his life, underscoring a dramatic turn of fortune amid ongoing legal woes.
A New York appeals court recently reduced the amount required for Trump to secure a bond against a civil fraud penalty from $550 million to $175 million, providing temporary relief from immediate financial strain.
Despite Trump’s newfound billionaire status, uncertainties linger about the sustainability of his wealth. Trump is restricted from selling his DWAC shares for six months, and the stock’s volatile history adds to the uncertainty.
Also, Trump Media’s financial performance has been modest, reporting less than $3.5 million in revenue and a $49 million net loss in the first nine months of 2023.
Nonetheless, Trump’s resurgence in wealth amid legal challenges underscores the unpredictable nature of his financial fortunes and his enduring influence in the business world.
