Donald Trump’s Net Worth Hits $6.5 Billion, Enters 500 Richest People List

Contact Your Elected Officials
The Epoch Times Header

The former president has properties valued at $4.3 billion.

Former President Donald Trump has entered Bloomberg’s list of top 500 global billionaires after his stake in Truth Social was valued at nearly $4 billion.

Truth Social parent company Trump Media & Technology Group (TMTG) went public following its merger with Digital World Acquisition Corp (DWAC). It will trade under the ticker symbol DJT on NASDAQ starting Tuesday. President Trump holds 78.75 million shares in the entity. DWAC closed Monday at $49.95, which makes the former president’s stake in the merged company worth $3.9 billion. According to Bloomberg, the deal pushes President Trump’s net worth to $6.5 billion, enabling him to join the list of wealthiest 500 people in the world on the Bloomberg Billionaires Index.

President Trump’s assets are spread across a wide variety of liquid and illiquid instruments. In a March 22 Truth Social post, the former president said he currently has almost $500 million in cash.

A Reuters analysis of court filings and federal financial disclosures showed that President Trump reported at least $537 million in revenues in 2022 from hotels and golf courses; $61.1 million from his stake in buildings; $30.4 million in royalties and licensing fees; and $26.5 million in managing fees. His Washington hotel netted him $268.7 million that year, including a profit made through selling a property.

President Trump’s properties were valued at $4.3 billion, the outlet said citing a June 2021 financial statement. Total loans and liabilities from the properties came in at $439.2 million.

President Trump’s net worth increase comes as he has to fulfill a multi-million bond requirement in the New York civil case that accuses him of inflating the value of his assets. He was initially required to pay $464 million.

However, a court later ruled he could avoid paying $464 million if he puts up $175 million in 10 days, which he said he’ll do “very quickly.” Once he makes the payment, New York state will not be able to seize his assets as the former president appeals the judgment.

Even though President Trump gains billions from the TMTG merger, he won’t be able to cash in on the stock immediately. Under the deal’s terms, he is subject to a lock-up period of six months, during which time he is prohibited from selling his stake.

The only way out of the lockup period is if DWAC gives a waiver. The lockup period exists to prevent major shareholders from cashing out immediately after merging, which will crash stock prices. Shareholders are also prohibited from offering shares as collateral to raise loans during the lockup period.

By Naveen Athrappully

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

How The Big Beautiful Bill Will Keep Louisiana’s Energy Industry Strong

Renewable or not, our federal govt should not be rigging the deck against any energy sources, especially nuclear power that is both clean and consistent.

On Declaring War, Congress De Facto Amended the Constitution

Congress has de facto amended the Constitution by 55 years of refusing to debate matters of war and peace.

AOC – Acting On Cue

It is easy to dislike Alexandria Ocasio-Cortez (AOC), also known as Sandy Cortez, because she is fraudulent and not to smart.

LGBTQ™ Propaganda Roundup: Tampon Tim Walz Fails the Test

LGBTQ™ Propaganda Roundup: Nip/tucking the latest social engineering fisted...

AI is Now an Existential Threat

We now see evidence that artificial intelligence is an existential threat to our future. It is coming to take American jobs!

These Energy Tax Credits Are on Chopping Block in GOP Megabill

A revised Senate Republican megabill to implement Trump’s agenda hastens terminations of tax credits for renewable energy development, but offers new tax inducement for coal production.

DOJ Sues LA Over Sanctuary City Policies: 4 Things to Know

DOJ filed a lawsuit against Los Angeles over what it said are “sanctuary city” policies that shield illegal immigrants from deportation efforts.

Rep. Dusty Johnson Will Run for Governor of South Dakota

U.S. Rep. Dustin Michael “Dusty” Johnson has announced that he will run for governor of South Dakota during the general election to that office in 2026.

Moderna to Ask for Clearance for Combination COVID-Influenza Vaccine

Moderna is going to ask regulators to approve its combination vaccine against COVID-19 and influenza, the company said on June 30.

Federal Reserve ‘Should Be Ashamed’ for Not Lowering Interest Rates, Trump Says

President Donald Trump said Federal Reserve Chair Jerome Powell and his colleagues “should be ashamed” for not lowering interest rates.

Trump Signs Executive Order to Lift Sanctions on Syria

President Trump signed an EO on June 30 to lift most sanctions on Syria, giving the Middle-Eastern country an opportunity to develop economically.

Canada-US Trade Talks Will End Until ‘Certain Taxes’ Are Dropped, Trump Stresses

Trade discussions between Canada and the United States will end “until such time as they drop certain taxes,” U.S. President Trump said in an interview.

Trump Says US to Send Tariff Letters to Trade Partners Before July 9 Deadline

President Donald Trump said Sunday he will soon send letters to trading partners detailing the tariffs to be imposed on their exports to the United States.
spot_img

Related Articles