May 24, 2024 1:25 am
Donald Trump’s Truth Social makes him richer, surpasses George Soros on Bloomberg’s wealth list

The former president Donald Trump has seen his net worth rise to over $4 billion, placing him at 377th on the Bloomberg list of billionaires. This increase in wealth was due to the successful initial public offering (IPO) of his social network, Truth Social, which surpassed tycoon George Soros who is now ranked below him at 378th place.

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

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

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. Meanwhile, the list of links at the bottom of the original content seems to be unrelated to the topic of Trump’s wealth and should be reviewed or removed.

In conclusion, Donald Trump’s net worth rose above $4 billion after an IPO surge in his social network Truth Social’s shares, passing George Soros by one rank on Bloomberg’s list of billionaires. His lawyers had previously indicated that he could not afford bail but now it seems he has the resources to do so as he tries

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