Donald Trump’s Truth Social makes him richer, surpasses George Soros on Bloomberg’s wealth list

The former president Donald Trump saw his net worth rise to over $4 billion, landing him at 377th place on the Bloomberg list of billionaires. This increase in wealth was attributed to the IPO of his social network, Truth Social, surpassing tycoon George Soros who is now one rank below him at 378th place.

Trump’s wealth skyrocketed thanks to his majority stake in Trump Media & Technology Group, the company that owns Truth Social. The company went public under the symbol DJT after merging with Digital World Acquisition Corp. Trump Media & Technology Group’s shares surged 54% within half an hour of going public on Tuesday, with a 14% rise on Wednesday on Wall Street.

The potential value of Trump’s position could reach about $5.3 billion, increasing his total wealth to approximately $7.9 billion. Despite this, he will be restricted from selling shares in the merged company for at least six months. Trump has stated that he will be able to pay a cash bail of $175 million to appeal a sentence requiring him to pay $454 million, and expressed his desire to use some of his money for a potential presidential campaign in November.

Trump’s lawyers had previously indicated that he could not afford bail, but now it seems he has the resources to do so. He has been trying to avoid paying the money owed and is preparing for a potential political comeback. Meanwhile, it is unclear if there is any connection between the list of links at the bottom of this article and Trump’s wealth or political aspirations.

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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