Trump’s financial assets reach $6.4 billion, positioning him among the top 500 wealthiest individuals worldwide.

Trump’s financial assets reach .4 billion, positioning him among the top 500 wealthiest individuals worldwide.

(Bloomberg) — Donald Trump’s business empire was expected to be in peril like never before on Monday. Instead, it is the biggest day on record for the former president’s wealth.

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Facing a deadline to post bail of more than $500 million in a New York fraud trial, a state appeals court threw him a lifeline, reducing the amount he he is expected to file at $175 million — an amount he says he will cover. Around the same time, his social media company Trump Media & Technology Group completed a 29-month merger process, meaning shares worth billions of dollars on paper now officially belong to Trump.

In total, his net worth will increase by more than $4 billion. This means that for the first time ever, Trump is poised to join the ranks of the world’s 500 richest people according to the Bloomberg Billionaires Index, with a fortune of $6.4 billion.

A representative for Trump did not respond to a request for comment.

Trump, 77, has been rich his entire life. But his fortune, which previously peaked at $3.1 billion, was largely made up of real estate, creating a potential financial crisis ahead of Monday’s deadline to either pay his $454 million verdict or post bail. for 120% of the judgment. New York Attorney General Letitia James has indicated she is prepared to seize assets if Trump does not comply.

Read More: Trump Bond Cut 68% to $175M as He Appeals New York Fine

Trump pledged to quickly post cash or bail to cover the reduced amount. As things stand, he can’t take advantage of the windfall from Trump Media’s merger with Digital World Acquisition Corp. because its shares are blocked for approximately six months.

DWAC shares were trading at $49.65 as of 2:44 p.m. Monday, up about 190% year to date. That values ​​Trump’s 58% stake in the company at $3.9 billion. (It is expected to begin trading under the symbol DJT on Tuesday.)

The completion of the merger, which overcame hurdles including an investigation and settlement with the U.S. Securities and Exchange Commission and last-minute lawsuits from executives and investors, means the shares are now included in the Bloomberg’s calculation of Trump’s net worth. Previously, his stake was valued at just $22.5 million, based on his latest financial disclosure form.

His revised fortune gives Trump, who is campaigning to return to the White House, the same value on paper as Joe Ricketts, Gordon Getty and Tony James, according to the Bloomberg Wealth Index.

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