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Donald Trump has Become one of world’s Richest People with $6.5 Billion

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Donald Trump has Become one of world's Richest People with $6.5 Billion

(CTN News) – On Monday, Donald Trump’s commercial empire was expected to be in risk like never before. Instead, it became the former president’s wealthiest single day on record.

Faced with a deadline to post a bond of more than $500 million in a New York fraud lawsuit, a state appeals court threw him a lifeline, reducing the amount he’d have to pay to $175 million, which he believes he’ll cover.

Donald Trump Joins World’s Wealthiest with $6.5 Billion Fortune

Around the same time, his social media company, Trump Media & Technology Group, completed a 29-month merger process, indicating that Trump now owns shares worth billions of dollars on paper.

Overall, his net worth rose by more than $4 billion. With a fortune of $6.5 billion, Donald Trump has reached the ranks of the world’s wealthiest 500 persons on the Bloomberg Billionaires Index for the first time in history.

“We have a great company and are incredibly honored,” Eric Trump, executive vice president of the Trump Organization, said in a statement.

Trump, 77, has been wealthy his entire life. However, his fortune, which once peaked at $3.1 billion, has mostly comprised of real estate investments, posing a potential financial problem ahead of Monday’s deadline to pay his $454 million award or post a bond for 120% of the judgment.

Letitia James, the New York Attorney General, indicated that she was prepared to take assets if Donald Trump did not comply.

Trump promised to promptly post cash or a bond to cover the reduced sum. However, he is unable to cash in on his windfall from Trump Media’s merger with Digital World Acquisition Corp. as of now because his shares have been locked up for around six months.

DWAC shares finished Monday at $49.95, up almost 185% from the start of the year. That makes Trump’s 58% ownership in the company worth $3.9 billion. (It is slated to begin trading under the ticker DJT on Tuesday.)

The merger has been completed, overcoming challenges such as an inquiry and settlement with the US Securities and Exchange Commission and last-minute lawsuits from executives and investors.

The shares are now included in Bloomberg’s assessment of Donald Trump’s net worth. According to his most recent financial disclosure form, his stock was valued at $22.5 million.

According to the Bloomberg Wealth Index, Donald Trump’s revised fortune places him on par with Joe Ricketts, Gordon Getty, and Tony James regarding net worth.

Arsi Mughal is a staff writer at CTN News, delivering insightful and engaging content on a wide range of topics. With a knack for clear and concise writing, he crafts articles that resonate with readers. Arsi's pieces are well-researched, informative, and presented in a straightforward manner, making complex subjects accessible to a broad audience. His writing style strikes the perfect balance between professionalism and casual approachability, ensuring an enjoyable reading experience.

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