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Home News Trump Becomes of the World’s 500 Richest People

Trump Becomes of the World’s 500 Richest People

Trump Becomes of the World’s 500 Richest People

(—Following the completion of a more than two-year merger procedure, former President Donald Trump’s social media company, Trump Media & Technology Group (TMTG), has reportedly increased its net worth to over $6 billion, making it one of the wealthiest people in the world.

On Monday, TMTG concluded the transaction. According to John Carney of Breitbart News, the shares of the recently established business will trade on the Nasdaq on Tuesday under the new ticker symbol DJT.

“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.”

According to Bloomberg, the former president is now among the 500 richest persons in the world due to the merger’s success and rising stock price. The study was released on Monday. According to the media outlet, Trump is worth $6.4 billion.

Trump’s rising wealth coincides with a critical juncture. Trump was previously penalized well under half a billion dollars by two judges in two different lawsuits.

Over $355 million is at stake in a civil fraud action in New York.
E. The defamation lawsuit of Jean Carroll: $83.3 million

Additionally, a New York appeals court ruled on Monday that Trump cannot appeal a $464 million civil fraud verdict unless he posts a $175 million bond within ten days.

Trump informed the media that cash would support the bond.

“It will be my honor to post [the bond],” he said.

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