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Sep 27, 2022 · He’s $76.8 billion poorer than a year ago, the biggest loss of anyone on the 2022 list. Elon Musk tops The Forbes 400 for the first time. Despite all the turmoil in both his professional and ...
- Chase Peterson-Withorn
- Overview
- Trump SPAC
Former President Donald Trump can again lay claim to membership in an elite club: The Forbes 400 list of the richest Americans.
Trump reclaimed a place in the business magazine's annual list after tumbling from the rankings last year, which marked the first time in 25 years Trump hadn't been included. The real estate investor lands at No. 343 on this year's list, tied with other billionaires including casino magnate Steve Wynn, Campbell Soup heir Bennett Dorrance and Yahoo! co-founder David Filo. Trump's net worth has jumped from $2.5 billion in 2021 to $3.2 billion this year, Forbes estimated.
The biggest boost in Trump's wealth this year has come from his stake in Trump Media & Technology Group, which Forbes describes as his "single most valuable asset." The former president owns about 80% of the venture, according to the Forbes analysis. Their valuation is based on the prospect of Trump Media & Technology Group going public via a so-called special purpose acquisition company, or SPAC.
That SPAC, Digital World Acquisition Corp., is publicly traded, with Forbes estimating that Trump's 73 million shares would be worth $730 million, assuming a $10 per share stock price for Digital World. Digital World is currently trading at a significant premium, with its shares trading at $16.60 as of Tuesday afternoon.
Forbes said it gave Trump's stake a lower per share valuation to reflect "the discounted rate that a handful of big-money investors agreed to pay for a piece of the action."
To be sure, Digital World and Trump Media & Technology Group's future hinges upon the closure of a merger to complete the SPAC deal, which has been stymied by a number of factors. Those include investigations by both the Securities and Exchange Commission and the Department of Justice.
Digital World earlier this month asked its shareholders for more time to complete the merger because of delays caused by the probes. And without a sign off from the SEC, the merger can't close.
There's a lot of money on the line for Trump and his business, which runs the Truth Social app. After the merger, Digital World is slated to transfer more than $1 billion to Trump Media & Technology Group. But if the merger collapses, the company may not be able to secure that funding, hanging a question mark over the valuation of the businesses as well as Trump's stake.
Oct 5, 2021 · Forbes used stock prices from September 3, 2021 to calculate net worths for the list. Leading the newcomers, with a $30.4 billion fortune, is Miriam Adelson , wife of the late casino mogul Sheldon ...
Sep 27, 2022 · Donald Trump is once again a member of the Forbes richest Americans club, rejoining the magazine’s list of the top 400 richest US citizens after falling off in 2021. The magazine made the ...
Oct 5, 2021 · It's the first time in 25 years that Trump hasn't made the annual list, which debuted in 1982. Forbes reports that while the former president, who ranked No. 339 in 2020, is worth an estimated $2. ...
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Oct 5, 2021 · Trump's net worth was estimated at $2.5 billion — just about $400 million shy of making the list this year, according to Forbes. The billionaire has lost about $600 million since the pandemic ...
