The Press Stories
Former President Donald Trump’s net worth has soared by over $4 billion following his company’s merger with Digital World Acquisition Corp. This increase in wealth has propelled Trump onto the prestigious list of the world’s wealthiest 500 people on the Bloomberg Billionaires Index for the first time in his career. Trump’s estimated fortune now stands at a whopping $6.5 billion, a significant jump from his previous high of $3.1 billion.
The surge in Trump’s net worth comes on the heels of a reduction in the bond that he must post in a New York civil fraud lawsuit. Additionally, Trump’s struggling social media platform, Truth Social, is poised to begin trading on the Nasdaq stock exchange, with Trump’s stake valued at about $3 billion on paper. Trump Media & Technology Group will take the place of Digital World Acquisition Corp. following the merger.
The announcement of the merger sent shares of Digital World Acquisition Corp. soaring by 35% in regular trading, effectively wiping out losses from the previous day. Despite the high valuation of Truth Social’s parent company, the platform has generated only $3.3 million in revenue during the first nine months of 2023.
As Trump’s financial fortunes continue to rise, his foray into the tech world with Truth Social is closely watched by investors and analysts alike. With his newly acquired wealth, Trump is cementing his status as one of the world’s richest individuals and making headlines with his business ventures once again.
