The former president has properties valued at $4.3 billion.
Former President Donald Trump has entered Bloomberg’s list of top 500 global billionaires after his stake in Truth Social was valued at nearly $4 billion.
Truth Social parent company Trump Media & Technology Group (TMTG) went public following its merger with Digital World Acquisition Corp (DWAC). It will trade under the ticker symbol DJT on NASDAQ starting Tuesday. President Trump holds 78.75 million shares in the entity. DWAC closed Monday at $49.95, which makes the former president’s stake in the merged company worth $3.9 billion. According to Bloomberg, the deal pushes President Trump’s net worth to $6.5 billion, enabling him to join the list of wealthiest 500 people in the world on the Bloomberg Billionaires Index.
President Trump’s assets are spread across a wide variety of liquid and illiquid instruments. In a March 22 Truth Social post, the former president said he currently has almost $500 million in cash.
A Reuters analysis of court filings and federal financial disclosures showed that President Trump reported at least $537 million in revenues in 2022 from hotels and golf courses; $61.1 million from his stake in buildings; $30.4 million in royalties and licensing fees; and $26.5 million in managing fees. His Washington hotel netted him $268.7 million that year, including a profit made through selling a property.
President Trump’s properties were valued at $4.3 billion, the outlet said citing a June 2021 financial statement. Total loans and liabilities from the properties came in at $439.2 million.
President Trump’s net worth increase comes as he has to fulfill a multi-million bond requirement in the New York civil case that accuses him of inflating the value of his assets. He was initially required to pay $464 million.
However, a court later ruled he could avoid paying $464 million if he puts up $175 million in 10 days, which he said he’ll do “very quickly.” Once he makes the payment, New York state will not be able to seize his assets as the former president appeals the judgment.
Even though President Trump gains billions from the TMTG merger, he won’t be able to cash in on the stock immediately. Under the deal’s terms, he is subject to a lock-up period of six months, during which time he is prohibited from selling his stake.
The only way out of the lockup period is if DWAC gives a waiver. The lockup period exists to prevent major shareholders from cashing out immediately after merging, which will crash stock prices. Shareholders are also prohibited from offering shares as collateral to raise loans during the lockup period.
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