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Forbes' Real-Time Billionaires rankings tracks the daily ups and downs of the world’s richest people. The wealth-tracking platform provides ongoing updates on the net worth and ranking of each ...
Oct 5, 2021 · Donald Trump Falls Off The Forbes 400 For First Time In 25 Years. Oct 5, 2021 ... 2022, 08:15am EDT. ... And that’s in a year when the minimum net worth to make the cut jumped to a record $2.9 ...
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.
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 ...
James Madio was born on November 22, 1975, in the Bronx, New York City. As a boy, he was interested in acting and began his professional career at the age of 13. Madio got his break when he was cast in Steven Spielberg's Hook in 1991. He was only 14 years old when he was discovered by Spielberg; this began his journey in Hollywood. While on...
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Born. (1975-11-22) November 22, 1975 (age 48) The Bronx, New York, U.S. Occupation. Actor. Years active. 1991–present. James Madio (born November 22, 1975) is an American actor, known for his roles in USA High, Hook and as Technician Fourth Grade Frank Perconte in Band of Brothers.
