Former President Donald Trump was already a wealthy man, but now he’s even richer, thanks to soaring Truth Social stock following the merger of Trump Media & Technology Group and Digital World Acquisition Corp.
Trump’s overall wealth, also boosted by a huge reduction his civil fraud penalty from $454 million to $175 million by a New York Appellate Court on Monday, has climbed to north of $6.5 billion, making him one of the world’s 500 richest persons, USA Today reported, citing the Bloomberg Billionaires Index.
Trump’s previous net worth high of $3.1 billion was based mostly on his real estate holdings, the outlet reported.
“Trump and his company were accused of grossly inflating the value of those holdings to get better loan and insurance terms in the civil fraud suit,” USA Today noted, without adding that the judge, Arthur Engoron, and New York Attorney General Letitia James, charged and convicted Trump of ‘crime’ in which there were no victims and that James campaigned in 2018 on “getting” Trump.
