Not-So ‘Broke’ Don: Trump Net Worth Tops $6.4 Billion On SPAC Deal

March 25, 2024   |   Tags:
Not-So 'Broke' Don: Trump Net Worth Tops $6.4 Billion On SPAC Deal

Former President Donald Trump's net worth topped $6.4 billion on Monday following the completion of a 29-month-long SPAC deal involving his social media company, Trump Media & Technology Group, as well as the reduction of the bond due in his NY civil fraud trial in order to appeal a $454 million verdict.

And while Trump's gains on the SPAC deal with Digital World Acquisition Corp may just be on paper (and any meaningful sales when his six-month lockup expires would likely tank the price), the $4 billion boost was enough to include Trump in the Bloomberg Billionaires Index, which tracks the top 500 wealthiest people in the world.

Earlier on Monday, Trump was granted a vastly reduced bond requirement of $175 million in order to appeal his NY civil trial over his real estate. In response, Trump quickly said he would post it.

The completion of the SPAC merger came despite last-minute lawsuits from investors and executives, as well as a settlement with the SEC.

The timing couldn't be worse for Democrats - as the 2024 Biden campaign picked this moment in time to copy Trump's name-calling strategy, dubbing the former president "Broke Don." While that was based on a recent campaign finance report showing that Biden out-raised Trump in February, it seems that Biden's campaign staff - which even former President Barack Obama essentially admitted are total morons, need to go back to the drawing board.

Or not... as long as curbside voting and uncreased 2am ballot drops that nobody is supposed to discuss are a thing.

Tyler Durden Mon, 03/25/2024 - 21:45


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