Trump’s net worth rises beyond $6 billion, making him a new addition to Bloomberg’s 500 richest list
Due to financial difficulties with his presidential campaign, Donald Trump has suddenly found himself in the midst of legal fines and operating losses in his enterprises.
But despite these difficulties, Trump’s fortune increased on Monday afternoon, according to CNBC, rather than declining.
According to Bloomberg, a worldwide list of the 500 richest individuals in the world, Trump’s net worth increased by almost $4 billion to over $6.5 billion when he attended the decision of his New York civil fraud case on Monday.
The recent merger of Trump Media and Technology Group, his social media business, and Digital World Acquisition Corp., also known as DWAC, a shell corporation, was the reason for this rise.
At DWAC’s closing price of $49.95 per share on Monday, the 77-year-old Republican presidential candidate’s stock was worth $4 billion on paper. Trump networking, which runs his social networking site Truth Social, is over 58% owned by him.
A New York appeals court lowered the bail amount required, sparing the former president from having to pay a $454 million civil fraud penalty. As a result, DWAC share price increased by 35% on Monday.
Trump battled to get a $550 million bond earlier on Monday to keep the state from taking his real estate holdings.
But an appeals court decided that Trump only required a $175 million bail, delaying the judgment’s due date by ten days.
The media combination and the amended bond allowed Trump to be listed for the first time in his life in the Bloomberg Billionaire’s Index.
Bloomberg claims that staff reports, public filings, and ethical disclosures are the foundation for estimating Trump’s net worth.
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