Report: Trump Wealth Hits $6.4B After Truth Social Deal, Making Him One of the World’s 500 Richest P

[mystery-ak]

Report: Trump Wealth Hits $6.4B After Truth Social Deal, Making Him One of the World’s 500 Richest People

Wendell Husebø 26 Mar 2024

Former President Donald Trump reportedly became one of the richest people in the world with his net worth topping $6 billion on Monday after his social media company, Trump Media & Technology Group (TMTG), finalized a more than two-year merger process.

TMTG completed the merger Monday. The shares of the newly formed company will trade on the Nasdaq Tuesday under the new ticker symbol DJT, Breitbart News’s John Carney reported:

    The transaction would provide a windfall to Trump, who owns more than 60 percent of TMTG. His share of the merged company, expected to be around a 58 percent stake, could be worth around $3 billion at recent market prices.

    Trump’s shares are subject to a six-month lock-up that would prevent him from selling shares or pledging them as collateral for loans, a standard provision in many initial public offerings and SPAC deals. The board, however, could waive the lock-up to allow him to pledge his shares to support an appeal bond in the fraud judgment against him in New York.

The successful merger and stock price landed the former president on Bloomberg’s list of the 500 richest people in the world, Bloomberg reported Monday. The media organization estimated Trump’s worth to be $6.4 billion.

more
https://www.breitbart.com/politics/2024/03/26/report-trump-wealth-hits-6-4b-after-truth-social-deal-making-him-one-of-the-worlds-500-richest-people/

[christian]

How rich is the most innocent virginal demented saint Joe?

[bigheadfred]

Current valuation on the stock puts him at $9 billion.

[libertybele]

Current valuation on the stock puts him at $9 billion.

Gee .... and yet the RNC is putting $$ into his pockets to help with his legal fees.

[bigheadfred]

Gee .... and yet the RNC is putting $$ into his pockets to help with his legal fees.

Well, this huge increase in "wealth" only started yesterday and is subject to the vagaries of the market. We'll have to see how it plays out.

[libertybele]

Well, this huge increase in "wealth" only started yesterday and is subject to the vagaries of the market. We'll have to see how it plays out.

I get the market fluctuations, etc., but the RNC bailing his legal woes out doesn't set well with me  His daughter-in law is the one that made the statement that $$ would flow into his pockets for legal fees.

[DefiantMassRINO]

I'd wait for Trump's checks to clear before making such declarations.