• Sun. May 26th, 2024

Trump’s Wealth Skyrockets to Over $4 Billion after IPO of Truth Social Network

BySamantha Jones

Mar 27, 2024
Donald Trump’s Truth Social makes him richer, surpasses George Soros on Bloomberg’s wealth list

The former president Donald Trump’s net worth skyrocketed to over $4 billion, landing him at 377th place on the Bloomberg list of billionaires. This increase in wealth was attributed to the IPO of his social network, Truth Social, which surpassed tycoon George Soros who is now one rank below him at 378th place.

Trump’s wealth soared thanks to his majority stake in Trump Media & Technology Group, the company that owns Truth Social. The company went public under the symbol DJT after merging with Digital World Acquisition Corp. Trump Media & Technology Group’s shares surged 54% within half an hour of going public on Tuesday, with a 14% rise on Wednesday on Wall Street.

The potential value of Trump’s position could reach about $5.3 billion, increasing his total wealth to approximately $7.9 billion. Despite this, he will be restricted from selling shares in the merged company for at least six months. Trump has stated that he will be able to pay a cash bail of $175 million to appeal a sentence requiring him to pay $454 million and expressed his desire to use some of his money for a potential presidential campaign in November.

Trump’s lawyers had previously indicated that he could not afford bail, but now it seems he has the resources to do so. He has been trying to avoid paying the money owed and is preparing for a potential political comeback while keeping an eye on links at the bottom of the original content which seem unrelated to the topic of Trump’s wealth and should be reviewed or removed.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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