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.
Trump, the presumptive Republican presidential nominee, established the Trump Media & Technology Group (TMTG) in February of 2021 to develop an alternative social media website, following his removal from Twitter after the events of Jan. 6, 2021, with the new website “Truth Social” being unveiled in 2022. On Monday, TMTG completed a merging process with 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 “Nasdaq” exchange, with Trump’s 58% stake in the company being valued at $3.9 billion, according to Bloomberg News.
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’s initials, “DJT.” The process will increase Trump’s net worth to $6.4 billion, according to Bloomberg.
Trump’s 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 his net worth to be $9.8 billion following the TMTG acquisition process, while Forbes maintains his net worth at $2.6 billion as of Monday — making him the 1,265th richest person in the world — with its highest-ever estimate for his net worth being $4.5 billion in 2016.
Truth Social has reported many losses since its creation, with Trump being the primary user of the platform with the largest number of followers. He often announces major legal and campaign decisions on the platform, similar to his use of Twitter during his presidency.
Trump will not be able to sell his stake in TMTG for at least six months following the commencement of trading
Former President of the United States Donald Trump speaking with attendees at the 2022 Student Action Summit at the Tampa Convention Center in Tampa, Florida. [Photo Credit: Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons]
On a bustling Thursday night in San Francisco, former President Donald Trump marked another impressive milestone in his 2024 presidential campaign. The presumptive Republican nominee and front-runner, according to the polls, celebrated a monumental $12 million fundraising haul. The fundraising event, hosted by prominent Silicon Valley figures, David Sacks and Chamath Palihapitiya, highlighted the undeniable shift in the tech industry, an arena traditionally dominated by liberal ideologies.
“These are brilliant guys – AI guys – these are the guys that are doing all the things you read about,” Trump gushed to Fox News Digital. These are just a brilliant group of people. And they can’t relate to Biden because he is a stupid person – and I have a high IQ.”
Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons
“They don’t like dealing with an IQ that’s like, you know, 1/3 of theirs, because it is a difficult thing when someone has an IQ of 180, it is difficult to deal with a man with an IQ of 70 – or maybe lower,” Trump added, attempting to goad the current president.
Sacks endorsed Trump hours before the high-dollar fundraiser at his multimillion-dollar home, located near the residence of Nancy and Paul Pelosi, symbolizing the growing willingness of certain tech industry leaders to publicly support Trump, a stance that previously rendered individuals persona non grata in Silicon Valley. (RELATED: San Francisco Sued Over Gender Scheme Targeting Minority Men)
Known for his business acumen and successful investments, including his status as an angel investor for Facebook, Uber, SpaceX, and Airbnb, Sachs’ support signals a broader acceptance of Trump’s candidacy within a traditionally GOP skeptical community.
Trump told Fox News Digital that Sacks’ “strong” endorsement “is a great testament to what I’ve accomplished.”
“David Sacks — the king of that world — David Sacks and the group that we were with are the most respected people in San Francisco from both a business and high tech standpoint,” Trump told Fox News Digital. “They love our country and they understand what’s happening into the future with technology better than any group, anywhere in the world.”
“One of the primary reasons for the endorsement was the four years that we had in office, which was the best four years ever for high tech, which will play an increasingly important role in the future of our country, especially as it relates to AI and all of the other new and brilliant technologies coming right at this moment,” Trump said. “It is a very exciting time and it is a great honor to have the most brilliant minds supporting, by far, the most brilliant leader.”
Why I’m Backing President Trump
As many press accounts have reported, I’m hosting a fundraising event for President Donald J. Trump at my home in San Francisco this evening.
Over the last couple of years, I have hosted events for presidential candidates Ron DeSantis, Vivek…
“My reasons rest on four main issues that I think are vital to American prosperity, security and stability — issues where the Biden administration has veered badly off course and where I believe President Trump can lead us back,” Sacks said Thursday.
Other guests at Sacks’ Pacific Heights fundraiser included the Winklevoss twins, who successfully sued Facebook CEO Mark Zuckerberg for allegedly stealing their idea, which later became Facebook.
JD Lasica from Pleasanton, CA, US, CC BY 2.0 , via Wikimedia Commons
“He wasn’t the guy I see on TV,” one source told the New York Post. “He was very thoughtful and self-deprecating.” More than 100 guest attended the San Francisco soirée, paying as much as $300,000 a head.
Historically, Silicon Valley has been a bastion of liberal politics, with many tech leaders supporting Democratic candidates and policies. This alignment was driven by shared values around social issues and environmental sustainability. (RELATED: Google Shuts Down Its AI Chatbot ‘Gemini’ For Being Woke And Racist)
However, the dynamics may be changing. The industry’s rapid growth has brought increased scrutiny and regulatory pressures from Democratic lawmakers. Concerns over antitrust actions, data privacy regulations and labor practices have strained relationships between tech giants and the Democratic Party.
In contrast, Trump’s deregulatory stance, pro-business policies and tax reforms align with the interests of a growing number of Silicon Valley insiders.
“Judge Judy” Sheindlin called Manhattan District Attorney Alvin Bragg’s (D) hush money case against former President Trump “nonsense” in a recent interview.
“You gotta twist yourself into a pretzel to figure out what the crime was. [Bragg] doesn’t like him — New York City didn’t like him for a while,” Sheindlin said of Trump in a “Who’s Talking to Chris Wallace?” interview streaming Friday on Max.
“I would be happier, as someone who owns property in Manhattan, if the district attorney of New York County would take care of criminals who were making it impossible for citizens to walk in the streets and use the subway, to use his efforts to keep those people off the street, than to spend $5 million or $10 million of taxpayers’ money trying Donald Trump on this nonsense,” the longtime TV judge told Wallace.
Watch:
Judge Judy: “As a person who owns property in Manhattan I would be happier if Alvin Bragg took care of criminals who make it impossible to ride the subway or walk the streets, than spending $10 million of taxpayer money trying Donald Trump on nonsense.” pic.twitter.com/YBD2uBEub8
“I, as a taxpayer in this country, resent using the system for your own personal self-aggrandizement,” the “Judy Justice” personality said of Bragg.
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Asked by the CNN anchor what she thought of Trump, the 81-year-old former Manhattan Family Court judge replied, “I think he was a good businessman, a real estate guy. And he was certainly terrific on ‘The Apprentice.’”
They argue that Trump’s public statements have increased tensions and led to threats against Bragg and his team before Trump’s July 11 sentencing.
The Manhattan District Attorney’s Office charged Trump with 34 counts of falsifying business records as part of a hush-money scheme to prevent porn star Stormy Daniels from speaking out about her alleged extramarital affair before the 2016 presidential election.
Before Trump, no sitting or former president ever faced criminal charges. This is the lowest level felony in New York, any potential sentence will more than likely be served after the 2024 election.
The order, issued before Mr. Trump’s Manhattan criminal trial began in mid-April, bars him from attacking witnesses, jurors, court staff and relatives of the judge who presided over the trial, Juan M. Merchan.
Mr. Trump’s lawyers have sought to have the order lifted since Mr. Trump’s conviction in late May. But in a 19-page filing on Friday, prosecutors argued that while Justice Merchan no longer needed to enforce the portion of the gag order relating to trial witnesses, he should keep in place the provisions protecting jurors, prosecutors, court staff and their families.
Article Published With The Permission of American Liberty News
Billionaire Elon Musk has no plan to back away from politics anytime soon.
SpaceX owner Elon Musk vowed to keep up his political activities in a social media post on Tuesday, saying he would take an active role in the GOP primaries ahead of the 2026 midterms.
“Normally, PACs go somewhat dormant after a big election,” Musk wrote on X, adding:
@America PAC is going to do the opposite and keep grinding, increasing Republican registrations in key districts around the country, in preparation for special elections and the midterms.
“And, of course, play a significant role in primaries,” Musk added.
Normally, PACs go somewhat dormant after a big election.@America PAC is going to do the opposite and keep grinding, increasing Republican registrations in key districts around the country, in preparation for special elections and the midterms.
Musk’s PAC reportedly spent some $200 million to help get Trump reelected in recent months. Musk himself, the world’s richest man, donated some $120 million to aid in Trump’s reelection bid – making him Trump’s second biggest backer after billionaire Timothy Mellon.
Musk’s pledge to stay active in GOP politics is the first sign his interest in the party extends far beyond Trump as activism.
A reclusive billionaire from a storied American family with a legacy dating back to the Gilded Age has made one of the largest political contributions in the history of American politics.
Mr. Mellon is now the first donor to give $100 million in disclosed federal contributions in this year’s election. He was already the single largest contributor to super PACs supporting both Mr. Trump and Robert F. Kennedy Jr., who is running as an independent. Mr. Mellon has previously given $25 million to both.
Gage Skidmore from Peoria, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons
Democrats have sought to portray Mr. Kennedy as a spoiler supported by Republicans, in part by emphasizing Mr. Mellon’s dual contributions and seemingly split loyalties. The pro-Kennedy super PAC has distributed quotations from the hard-to-reach Mr. Mellon, and for a blurb that appears on the cover of Mr. Mellon’s upcoming book, Mr. Kennedy called the billionaire a “maverick entrepreneur.”
It is not clear what Mr. Mellon’s mega-donation means for his support of Mr. Kennedy going forward. He has so far toggled between giving to support both candidates. His most recent donation to Mr. Kennedy’s super PAC was a $5 million contribution in April.
But Mr. Mellon’s $50 million gift will significantly help pro-Trump forces narrow the financial advantage that President Biden and his allies have enjoyed so far. Miriam Adelson, the casino billionaire and widow of Sheldon G. Adelson, who died in 2021, has also made plans to fund a pro-Trump super PAC with at least as much money as the $90 million that her family gave in the 2020 campaign, although much of the cash has yet to arrive.
Critics argue that the case is politically motivated and based on an overly broad interpretation of campaign finance laws. They add that such payments are common among public figures seeking to avoid public scrutiny.
The Mellon family‘s wealth started when an Irish immigrant named Thomas Mellon founded T. Mellon & Sons’ Bank in Pittsburgh in 1869. His sons, Andrew W. Mellon and Richard B. Mellon, later grew the bank into a strong financial institution. This bank eventually became Mellon Financial Corporation, one of the largest banking institutions in the United States.
During the late 19th and early 20th centuries, Andrew Mellon played a crucial role in financing and supporting key industries such as aluminum, oil, and steel, contributing to the growth of major corporations, such as Gulf Oil, and Union Steel. As secretary of the Treasury from 1921 to 1932, his influence shaped the economic policies of the 1920s, known as the Mellon Plan, which contributed to the economic boom of the decade.
National Photo Company Collection, Public domain, via Wikimedia Commons
In 2007, Mellon Financial Corporation merged with The Bank of New York to form BNY Mellon, one of the world’s largest asset management and securities services companies, preserving their 150-year legacy in banking and finance.
Article Published With The Permission of American Liberty News
On Thursday night, RNC chair Lara Trump released her second single and teased the release of several more songs coming soon.
According to Mediaite, Trump—who made headlines with her 2023 cover of Tom Petty’s “I Won’t Back Down”—spontaneously dropped yet another single, “Anything is Possible,” at midnight on Thursday evening.
“A little something I had fun with over the winter,” wrote Trump in a social media post announcing the song. “And a few more too that I’ll save for a future date, special for my YUGE fans in the liberal media [winky face emoji].”
A little something I had fun with over the winter ☺️🎹🎶 (and a few more too that I’ll save for a future date, special for my YUGE fans in the liberal media 😜) pre-save link below. Officially available at midnight tonight! 🙌🏽https://t.co/ll09EN3X9lpic.twitter.com/ltREDIybqW
In the uplifting single about faith, which is currently available to stream on Spotify and Apple Music, Trump sings, “I’ve had my ups and downs, cried when no one’s around. Still I gotta put my game face on, even when I’m not feeling strong. No matter how it seems, I wouldn’t trade a thing, ’cause all of it makes me who I am.”
She continues in the chorus, “Don’t think, just jump, you can’t give up. Know that anything is possible. Have faith, believe, just trust, you’ll see, anything is possible.”
It is unclear whether Trump currently has an album in the works or whether she has just produced a collection of singles.
Earlier this month, Trump was elected to serve as co-chair of the Republican National Committee following Ronna McDaniel’s exit.
Former president of PayPal David Marcus announced he has switched political parties and endorsed Donald Trump via X.
I am crossing the Rubicon and backing the Republican Party and President Trump.
Many — including a former version of myself — get trapped in a mental framework that becomes their identity and prevents them from radically evolving their thinking with new facts and information. I…
“I am crossing the Rubicon and backing the Republican Party and President Trump. Many — including a former version of myself — get trapped in a mental framework that becomes their identity and prevents them from radically evolving their thinking with new facts and information. I finally broke free from it.”
“My journey has been a gradual political 180 from where I stood in every previous election. It has been an eye-opening process of disenchantment, zero-basing lifelong beliefs, and rebuilding from there,” wrote Marcus.
Marcus cited an anecdote where, in 2017, he was enlisted to raise $100M from Silicon Valley for the Democratic National Convention in order to “prevent a repeat of Hillary Clinton’s inadequate, outdated 2016 campaign.”
David Marcus is aligned with Trump on technology innovations like crypto and AI as well as foreign policy–especially the Middle East. Marcus opined, “on Iran, this administration is continuing a misguided Obama-era plan to bring Iran closer to the West by unfreezing Trump-era sanctions, thus giving the Mollahs’ regime the ability to fund terrorism and pursue its anti-America, anti-Israel, and anti-Jewish agenda.”
“I believe we need a President who is unequivocally pro: America, the Constitution, business, Bitcoin/crypto, innovation, Israel, small government, legal immigration, free speech, meritocracy, and common sense — and anti: regulatory proliferation, illegal immigration, unjust wars, Iran’s current regime, and domestic groups that oppose American values.”
Marcus completed his post by referencing the attempt on former President Trump’s life at a rally in Butler, PA on July 13.
“It’s impossible to close this post without mentioning President Trump’s recent assassination attempt. The courage and resolve he displayed seconds after being hit by a bullet was awe-inspiring for his followers and detractors alike. This was a man, however imperfect, who, at that moment, incarnated the American spirit in the most vivid way, starting to bring a split nation together,” wrote Marcus.
“In this pivotal moment, confronted with the choices we have, I am endorsing and supporting a return to a Republican administration in 2025,” the post concluded.
Trump has seen a number of prominent pro-business donors flock to his campaign this season as Republicans seek to a return to the White House.
The Minneapolis warehouse is approximately 125,000 square feet and has been leased to Lindell since December 2015. The lease agreement between Lindell and the landlord, First Industrial LP, has been amended twice. It lasts 10 years, seven months and 20 days, and the monthly rent was $57,794.12, according to the eviction complaint.
According to the complaint, dated March 7, Lindell did not make rent payments for February and March 2024. Since it is not the first time MyPillow failed to pay its rent on more than two occasions in the previous 12-month period, per the lease agreement, the landlord is entitled to retake possession of the premises.
As of Wednesday, Lindell did not answer the eviction complaint or appear at the scheduled hearing, forcing the judge to order the eviction. He confirmed to the AP that MyPillow owes around $217,000 to the Delaware-based company for the rent.
Lindell said the company no longer needed the space and removed its property from the warehouse last June before subleasing it to another company through December. The company backed out in January and “left us all stranded.” MyPillow offered to find another tenant, but the landlord wanted to take the warehouse back, he told the newswire.
MyPillow CEO Mike Lindell faces multiple defamation lawsuits from two voting machine companies, after he spread lies that the 2020 presidential election was fraudulent and stolen from former President Trump. In February, a federal judge ruled he must pay $5 million in an election data dispute case.
Former Watergate prosecutor Nick Ackerman said former President Trump is “toast” in his New York civil fraud case.
New York Attorney General Letitia James’ case accuses Trump, his two adult sons, the Trump Organization, and top executives of falsely inflating the values of Trump’s real estate properties and other assets in order to get tax benefits and better loan terms.
James seeks around $250 million in damages, and she wants to bar Trump and his co-defendants from running another business in New York.
According to The Hill, Ackerman argued people are not only focused on the former president’s testimony but also his deposition with James’s lawyers last summer, where he invoked the Fifth Amendment more than 400 times.
“Now what does it mean to take the Fifth Amendment? It means that you are refusing to answer a question, because a truthful answer would tend to be incriminating,” Ackerman said. “Then what did Donald Trump do last week? He went into court and said, ‘Oh, I didn’t do anything fraudulent, I wasn’t involved in a fraud.’ Which is just the opposite what in effect he was saying when he took the Fifth Amendment in his deposition.”
“So you’ve got contradictory testimony,” Ackerman continued. “You can use his assertion of the Fifth Amendment against him to basically find that he’s lying, that he’s manipulating the system when he goes in, refuses to answer questions, answers the questions in a half-baked manner.”
Earlier this week when Trump took the stand he fiercely defended his business practices and condemned those involved in the case as politically motivated “Trump haters.”
“I just don’t see how this judge at the end of the day is not going to find that, with respect to Donald Trump … ‘Liar, liar, pants on fire,’” Ackerman said.
Ackerman said that in his more than 40 years of civil law experience, he has never seen anyone “do such a stupid move as to suddenly start testifying” after they’ve taken the Fifth Amendment.
Ark Invest CEO Cathie Wood said she would vote for former President Trump over President Biden in the November presidential election.
Wood took part in an interview with ‘Meet Kevin’ financial analyst and YouTuber Kevin Paffrath, during which she was asked the popular question, “Trump or Biden?”
Wood told the host she has three children with whom she has discussed the upcoming election and its consequences.
“As I’ve said to them, ‘Look, I am going to vote for the person who’s going to do the best job for our economy,’” Wood told Paffrath. “I am a voter when it comes to economics, and on that basis, Trump.”
She further explained that Laffer Associates founder and chairman Art Laffer “describes the first three years of the Trump presidency as the best in U.S. economic history, not the last one because of COVID, and I would agree.”
Watch:
🔥🔥Cathie Wood Ark investor and one of the most influential people in the business world just publicly announced that she'll be voting for Trump and that he had the best economy in history.
Dont vote based off personal feelings. Vote based off personal experience.
Mr. Mellon is now the first donor to give $100 million in disclosed federal contributions in this year’s election. He was already the single largest contributor to super PACs supporting both Mr. Trump and Robert F. Kennedy Jr., who is running as an independent. Mr. Mellon has previously given $25 million to both.
Billionaire Stephen Schwarzman, the CEO and co-founder of Blackstone, announced last month he will back Trump in the 2024 race after he previously called for the Republican Party to turn to a “new generation of leaders.”
