Trump's net worth surges to $6.4 BILLION to make him one of the world's 500 richest people for the first time after he completed his social media company's.
- e value of his stake in Digital World Acquisition has jumped
- 'I have a lot of cash,' Trump told reporters Monday
The former president's net worth has climbed to $6.4 billion following last week's announcement that Digital World Acquisition shareholders voted the special purpose acquisition company to merge with the Trump firm that owns his Truth Social platform.
After a jump in its stock price, Trump's net worth jumped by an astonishing $4 billion – which comes on top of his golf, real estate, and branding empire.
The timing couldn't be better for Trump, says he has almost $500 million in cash and has 10 days to come up with $175 million after a New York appeals court slashed a $454 court judgment against him.
Trump already has an empire that includes golf properties in Florida and Scotland, plus buildings including Trump Tower and 40 Wall Street, where Trump on Monday held a wild press conference where he said he would use cash, securities, or a bond to pay the $175 million amount.
Even with that outlay, Bloomberg added Trump to its list of the world's 500 richest people.
The main driver was the stock price of the merged company, which will be publicly traded on the NASDAQ starting Tuesday.
Shares in DWAC were trading at nearly $50 a share Monday, a jump of 190 per cent since the year began, which put Trump's 58 per cent stake at about $3.9 billion.
Unless he gets a waiver from a board stacked with Trump loyalists, Trump would be prohibited from selling his shares until the end of a six-month period, so he can't rely on the funds to pay his court judgment.
Trump has long vied to get on and stay on the Forbes 400 list, and his New York fraud trial featured testimony that he inflated valuations to get preferable treatment.
Forbes on Monday put Trump's net worth of $2.6 billion, relying on a September 2023 estimate of his social media and branding business at $160 million.
'I have a lot of cash,' Trump told reporters Monday. 'You know I do because you have looked at my statement.'
Trump's net worth surges to $6.4 BILLION after media merger
The former president is worth $6.4 billion based on a new Bloomberg estimate after a merger involving his media company thanks to a jump in the stock price of Digital World Acquisition.
