Donald Trump had a good day yesterday, seeing his bond in the bogus New York civil fraud suit, which was brought by an AG who campaigned on politically targeting Trump and presided over by a leftist judge, reduced from $454 to $175 million.
AG Letitia James was set to start seizing Trump’s properties on Monday if he didn’t make bond, and this put a halt to that for now.
On the same day, investors approved a deal to bring Trump’s “Truth Social” platform public by merging it with a special purpose acquisition company (SPAC) called "Digital World Acqusition Corporation." That SPAC had the ticker DWAC at the time of the merger, and it's changed to DJT as of Tuesday to reflect the new listing.
While it’s “on paper” for now, Trump’s net worth officially doubled yesterday, making him one of the wealthiest 500 people on the planet.
According to the New York Post:
Former President Donald Trump’s net-worth jumped to $6.4 billion on Monday after the merger between Digital World Acquisition Corp. and Trump Media & Technology Group Corp. was officially finalized, according to a report.
For the first time ever, Trump, 77, will be listed on the Bloomberg Billionaires Index of the world’s wealthiest 500 people
The real estate mogul’s previous peak net-worth was $3.1 billion. Trump’s net-worth ballooned by $4 billion after the successful merger between his Trump Media group and blank-check acquisition company Digital World. Trump has a 58% personal stake in the publicly traded entity.
Trump’s shares are in “lock-up” for 6-months, meaning he (and other company insiders) can’t sell their shares until six months. Any insider selling risks hurting the stock price, but Trump can also borrow against shares instead of selling them.
Matt Palumbo is the author of Fact-Checking the Fact-Checkers: How the Left Hijacked and Weaponized the Fact-Checking Industry and The Man Behind the Curtain: Inside the Secret Network of George Soros
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