• Wed. Jun 19th, 2024

Donald Trump’s Truth Social boosts his wealth, surpasses George Soros on Bloomberg list

Byeditor

Mar 27, 2024

Former President Donald Trump’s net worth has surpassed $4 billion, landing him at 377th place on the Bloomberg list of billionaires. This increase in wealth is primarily attributed to the IPO of his social network, Truth Social. Trump’s wealth now exceeds that of tycoon George Soros, who is ranked just below him at 378th place. Trump’s real estate holdings and his 58% stake in Trump Media & Technology Group, the company that owns Truth Social, have significantly contributed to his rise in wealth.

Following the IPO of Trump Media & Technology Group, the company’s shares saw a significant increase, signaling a positive outlook for Trump’s financial position. Despite the rise in wealth, Trump will be restricted from selling shares in the merged company for at least six months. However, there is a possibility that the board of directors may allow him to offer shares before then. Trump has expressed his intention to use part of his wealth for future political ambitions, suggesting a potential run in the next presidential elections in November.

Meanwhile, Trump faces legal troubles and financial obligations, including a significant bail amount to appeal a court sentence. Despite these challenges, Trump remains confident in his financial resources and has stated his willingness to pay the required bail. As Trump navigates legal battles and considers political aspirations, his wealth and business interests continue to be a topic of public interest and scrutiny.

By editor

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