Trump’s Wealth Skyrockets

(StraightShooterNews.com) – Fighting Democratic-led attempts to target his pockets and seize his properties, former President Donald Trump’s financial status just went through the roof and landed him among the ranks of the world’s wealthiest individuals.

The feat was possible as his social media venture, Trump Media & Technology Group (TMTG), successfully settled a merger, boosting the former president’s net worth beyond $6 billion.

As reported by Breitbart News, the merger, which had been in the makings for over two years, was finalized and set the stage for TMTG to make its debut on the Nasdaq stock exchange under the name DJT, Trump’s initials.

This strategic merger significantly benefits Trump, who holds a 58% majority stake in TMTG. His ownership could now be valued at around $3 billion based on current market prices.

However, Trump’s ability to capitalize on this value immediately is limited by a six-month lock-up period typical of such deals, which restricts the sale or use of his shares as loan collateral, although exceptions could be made by the board for critical needs, such as securing an appeal bond in his ongoing legal battles in New York.

Trump’s remarkable wealth surge puts him on Bloomberg’s list of the world’s 500 richest people with a net worth of $6.4 billion. This financial milestone arrives during Trump’s substantial fines in various legal proceedings, including over $355 million in a New York civil fraud case and $83.3 million in a defamation lawsuit brought by E. Jean Carroll.

Furthermore, a New York appeals court allowed Trump to secure a $175 million bond within ten days to appeal against a civil fraud judgment amounting to $464 million. Trump has committed to backing this bond with cash and expressed his respect for the appellate division’s ruling while criticizing Judge Engoron’s handling of his case.

“This is all about election interference. This is all Biden-run … meaning Biden and his thugs because I don’t know if he knows he’s alive,” Trump stated.

He added that Biden “can’t win an election because of the borders, because of energy prices, because of inflation, because of Afghanistan. So what they do is they do election interference.”

Copyright 2024, StraightShooterNews.com