Trump's Net Worth Explodes As He Joins The Top 500 Richest People In The World Following Truth Social Merger

On Monday, presumptive GOP nominee and 45th President Donald Trump's net worth exploded after the merger between Digital World Acquisition Corp. and the Trump Media & Technology Group was approved by shareholders on Friday and after a New York appeals court agreed to lower the $454 million fine Trump was ordered to pay in the civil fraud case brought by New York Attorney General Letitia James (D-NY). Truth Social's success has led the billionaire real estate developer to see his wealth explode by nearly $4 billion, with the stock seeing a major increase in value on Monday.

Trump currently owns about 58 percent of the Trump Media & Technology Group, or about 79 million shares, meaning that DWAC, which is currently trading at $49.95 a share, will contribute over $3.9 billion to Trump's net worth. That increase in his wealth has propelled Trump to become one of the 500 richest people on the planet, with Trump's wealth has grown to $6.5 billion. Beginning on Tuesday, the stock will begin trading under 'DJT,' the initials of Donald John Trump.

While Trump's net worth will benefit greatly from the shareholder vote, he will likely be unable to pull money out of the stock due to a "lock up" provision that would not allow him to sell his shares until six months after the merger. Nevertheless, the increase in Trump's net worth has led him to join a prestigious list with Trump having a similar net worth to Joe Ricketts, Gordon Getty, and Tony James, according to Bloomberg.

The good news for Trump on Monday didn't end with his net worth increasing by nearly $4 billion either. The presumptive GOP nominee saw the $454 million fine levied against him by Judge Arthur Engoron significantly reduced to only $175 million by an appeals court. The five-judge panel ruled that Trump has an additional ten days to come up with the cash to pay a $175 million bond. During a press conference following the decision, Trump explained that he would be using cash as collateral to obtain a bond from a surety company. 

Trump took to Truth Social to slam Judge Engoron following the higher court's ruling, writing, "Judge Engoron has refused to obey the decision of the Appellate Division relative to the Statute of Limitations. This is a confrontation between a Judge and those that rule above him - A very bad situation in which to place New York State and the Rule of Law! Engoron has disrespected the Appellate Division and its very clear and precise ruling. He should be made to do so, and at the same time, release the GAG ORDER. This is the 5th time in this case that he has been overturned, a record. His credibility, and that of Letitia James, has been shattered. We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash. This also shows how ridiculous and outrageous Engoron's original decision was at $450 Million. I DID NOTHING WRONG, AND NEW YORK SHOULD NEVER BE PUT IN A POSITION LIKE THIS AGAIN. BUSINESSES ARE FLEEING, VIOLENT CRIME IS FLOURISHING, AND IT IS VERY IMPORTANT THAT THIS BE RESOLVED IN ITS TOTALITY AS SOON AS POSSIBLE. THANK YOU!"

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