Report: Trump Set To Become One Of World’s Most Wealthy People
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, 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















Judge Judy Labels Trump Hush Money Case ‘Nonsense’
A waste of time and taxpayer dollars…
“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.
Watch:
“I, as a taxpayer in this country, resent using the system for your own personal self-aggrandizement,” the “Judy Justice” personality said of Bragg.
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.’”
The celebrity judge’s comments come as the Manhattan DA seeks an extension of the restraining order against former President Donald Trump. (RELATED: Manhattan DA Seeks Extended Gag Order Against Trump Amid Death Threats To Bragg)
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.
As The New York Times reports:
Article Published With The Permission of American Liberty News