Trump’s Wealth Soars to Estimated $6.4 Billion ahead of Social-Media Company’s Wall Street Debut

Former president Donald Trump’s wealth is soaring to new heights ahead of the Wall Street debut of his social-media venture.

Trump’s net worth spiked to an estimated $6.4 billion the day before Trump Media & Technology Group is set to debut on the Nasdaq stock exchange under the “DJT” stock ticker, according to Bloomberg. An SEC filing disclosed on Monday indicates TMTG will replace Digital World Acquisition Corp. on the Nasdaq after the two entities completed a $300 million merger. Digital World is an SPAC corporation, a public company designed to acquire or merge with another company.

Trump owns a significant amount of equity in the venture, and his shares are officially in his possession now that the merger is finalized. His estimated 60 percent stake is valued at roughly $3 billion, and TMTG is valued at around $5 billion, according to the Wall Street Journal. Truth Social, Trump’s social-media platform, is operated by the company. Shares of Digital World jumped by 35 percent on Monday from its previous closing price.

Former Representative Devin Nunes (R., Calif.) will continue to be the CEO of TMTG when it goes public, the company said in a press release.

“As a public company, we will passionately pursue our vision to build a movement to reclaim the Internet from Big Tech censors,” Nunes said. “We will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressors. As we mark this milestone, I want to particularly thank Eric Swider for his unflagging dedication to our deal and our cause.”

The influx of wealth for Trump will likely allow him to post the $175 million bond for his New York civil-fraud case handed down on Monday by an appeals court. The $175 million figure is a sharp reduction of the original $464 million bond needed to cover the entirety of the fraud judgment against him.

Trump said on Monday that he would be able to post the bond before the conclusion of the 10-day extension he was given.

“Greatly respect the decision of the appellate division,” Trump stated. “We’ll put up a cash or bond very quickly,” Trump added. When a reporter asked Trump about the bond, he said cash would be the collateral on the bond as he walked out of the courtroom in New York.

Before the appeals court ruling, it was unclear if Trump would be able to post his bond on time, potentially jeopardizing his business empire. New York Attorney General Letitia James (D) was prepared to begin seizing Trump’s assets if he was unable to post the full $464 million total prior to the bond amount being reduced.

Trump’s business will be run by his sons, Don Jr. and Eric, and it will be permitted to take out loans from New York banks. The civil fraud judgment by Judge Arthur Engoron previously banned Trump’s organization from doing so for three years.