Donald Trump’s net worth increased by $600 million after he left the Oval Office last year.
According to The Washington Examiner:
Trump’s fortune has grown from $2.4 billion to $3 billion, according to a report released Tuesday. The most notable contributor to that wealth appears to be Trump Media and Technology Group, the technology-focused company that helped launch Twitter alternative Truth Social.
TMTG’s plans to merge with special purpose acquisition company Digital World Acquisition have increased Trump’s net worth by $430 million, according to the analysis fromForbes. The remaining $170 million is unaccounted for inthe estimate.
While TMTG’s merger is subject to investigations from the Securities and Exchange Commission and the Financial Industry Regulatory Authority, investors have still purchased a large number of shares in the company. These investors brought the company’s stock value up from $10 a share to $56 as of this month, according to the S&P Global Market Intelligence.
At least 50% of Digital World Acquisition’s shares are owned by Trump, who would receive $10 apiece for them if he were to sell them at the discounted rate offered to a “handful of smart-money investors,” according to the report. However, Trump will not be able to sell those shares yet because TMTG has not finalized its merger as of Tuesday.
The spike in Trump’s net worth comes after he saw his personal fortune experience a major drop throughout his term.