Trump’s net worth doubles as Truth Social owner finalizes deal to go public
Trump’s Net Worth Doubles with Trump Media & Technology Group Merger
Donald Trump’s net worth sees a dramatic increase as his company, Trump Media & Technology Group, completes its merger to go public, doubling his estimated wealth. With the announcement of its stock market debut, Trump joins the ranks of the world’s 500 wealthiest individuals on the Bloomberg Billionaires Index. Bloomberg’s estimates suggest a $4 billion surge in Trump’s net worth just on Monday, bringing it to $6.5 billion.
The merger between Trump Media and Digital World Acquisition Corp. marks a significant financial gain for Trump, who holds the position of chairman and dominant shareholder in the new entity. The completion of the merger boosted shares of Digital World by 21%, translating into a substantial valuation of around $4 billion for Trump’s stake. However, there are lock-up restrictions in place that may limit Trump’s ability to sell or leverage the value of his shares in the near future.
DJT Trading to Begin
Trading under the ticker symbol “DJT” on the Nasdaq Stock Market is scheduled to commence on Tuesday. Devin Nunes, the CEO of the combined company, expressed intentions to challenge Big Tech censorship and provide a platform for free expression. Despite the surge in Digital World’s shares, some experts caution against overvaluation of Trump Media, citing its modest revenue of $3.4 million and a net loss of $49 million in the previous year. Additionally, Truth Social’s user base has seen a decline, raising concerns about the company’s performance. Despite these warnings, enthusiasm surrounding the merger has led to significant trading activity and community engagement among shareholders.
