Donald Trump becomes one of the world’s richest people after merger deal
The merger between Trump Media and Technology Group had been in the works for almost 29 months
Only until a few days ago, Donald Trump’s election campaign was in grave trouble at a very crucial stage where his only opponent now is the incumbent President, Joe Biden. However, now Trump seems to have received a boost after his net worth more than doubled up after the Truth Social owner Trump Media and Technology Group finalised its deal to go public. This turned out to be the best day for Donald Trump’s campaign and his wealth.
The merger between Trump Media and Technology Group had been in the works for almost 29 months and now with the successful completion of the deal, Donald Trump has become one of the world’s wealthiest people.
The former US President was after the deal, included in the list of the world’s 500 richest people on the Bloomberg Billionaires Index for the first time. This comes after his net worth spiked by $4 billion to reach a total net worth of $6.5 billion after the announcement that the company would debut on the stock market from Tuesday.
This development comes at a crucial time at the background of Trump having to face a deadline to post a bond of $500 million in relation to a New York fraud case. Much to Trump’s liking, a state appeals court provided him with some relief, cutting down the amount he was to post to $175 million.
The completion of the deal between Trump Media and Digital World Acquisition Corp. makes it a multi-billion dollar windfall for Trump, who is the chairman and major shareholder of the new firm.
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