{"id":6481,"date":"2024-03-28T14:00:00","date_gmt":"2024-03-28T18:00:00","guid":{"rendered":"https:\/\/greatamericanewsdesk.com\/?p=6481"},"modified":"2024-03-28T14:00:02","modified_gmt":"2024-03-28T18:00:02","slug":"report-trump-set-to-become-one-of-worlds-most-wealthy-people","status":"publish","type":"post","link":"https:\/\/greatamericanewsdesk.com\/business\/report-trump-set-to-become-one-of-worlds-most-wealthy-people\/njackson\/2024\/03\/","title":{"rendered":"Report: Trump Set To Become One Of World’s Most Wealthy People"},"content":{"rendered":"\n

Former President Donald Trump will become one of the 500 richest people in the world after his media company begins public trading on Tuesday, according to a report by Bloomberg News.<\/p>\n\n\n\n

The Daily Caller <\/a>has more:<\/p>\n\n\n\n

\n

Trump, the presumptive Republican presidential nominee,\u00a0established<\/a>\u00a0the Trump Media & Technology Group (TMTG) in February of 2021 to develop an alternative social media website, following his\u00a0removal<\/a>\u00a0from Twitter after the events of Jan. 6, 2021, with the new website \u201cTruth Social\u201d being\u00a0unveiled<\/a>\u00a0in 2022. On Monday, TMTG completed a\u00a0merging process<\/a>\u00a0with DWAC, a special-purpose acquisition corporation, that would allow the company to be publicly traded on the National Association of Securities Dealers Automated Quotations stock exchange, also known as the \u201cNasdaq\u201d exchange, with Trump\u2019s 58% stake in the company being valued at $3.9 billion,\u00a0according<\/a>\u00a0to Bloomberg News.\u00a0<\/p>\n\n\n\n

The share price of DWAC increased by 35.22% to close at $49.95 on Monday when the closing of the deal was announced, with the new company retaining the TMTG name and changing its stock ticker to Trump\u2019s initials, \u201cDJT.\u201d The process will increase Trump\u2019s net worth to $6.4 billion, according to Bloomberg.<\/p>\n\n\n\n

Trump\u2019s net worth, which until recently has primarily comprised real property of The Trump Organization, has been subject to varying estimates. The Australian Financial Review estimated<\/a> his net worth to be $9.8 billion following the TMTG acquisition process, while Forbes maintains his net worth at $2.6 billion<\/a> as of Monday \u2014 making him the 1,265th richest person in the world \u2014 with its highest-ever estimate for his net worth being $4.5 billion in 2016.<\/p>\n\n\n\n

Truth Social has reported many losses since its creation, with Trump being the primary user of the platform with the\u00a0largest number<\/a>\u00a0of followers. He often\u00a0announces<\/a>\u00a0major legal and campaign decisions on the platform, similar to his use of Twitter during his presidency.<\/p>\n<\/blockquote>\n\n\n\n

Trump will not be able to sell his stake in TMTG for at least six months following the commencement of trading<\/p>\n","protected":false},"excerpt":{"rendered":"

Former President Donald Trump will become one of the 500 richest people in the world after his media company begins public trading on Tuesday, according to a report by Bloomberg News. The Daily Caller has more: Trump, the presumptive Republican presidential nominee,\u00a0established\u00a0the Trump Media & Technology Group (TMTG) in February of 2021 to develop an […]<\/p>\n","protected":false},"author":2,"featured_media":3145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[30],"tags":[8,1093,853],"class_list":["post-6481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-donald-trump","tag-trump-media-technology-group","tag-truth-social"],"yoast_head":"\nReport: Trump Set To Become One Of World's Most Wealthy People - Great America News Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/greatamericanewsdesk.com\/business\/report-trump-set-to-become-one-of-worlds-most-wealthy-people\/njackson\/2024\/03\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Report: Trump Set To Become One Of World's Most Wealthy People - Great America News Desk\" \/>\n<meta property=\"og:description\" content=\"Former President Donald Trump will become one of the 500 richest people in the world after his media company begins public trading on Tuesday, according to a report by Bloomberg News. 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