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15 hours ago · #319 Donald Trump on the 2024 Forbes 400 ... #411 in the world today. ... A New York judge has ordered Trump to pay $454 million after the attorney general accused him of lying about his net worth ...
Apr 5, 2022 · America still leads the world, with 735 billionaires worth a collective $4.7 trillion, including Elon Musk, who tops the World’s Billionaires list for the first time. China (including Macau and ...
- 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 ...
Sep 21, 2022 · New York Attorney General Letitia James filed the lawsuit against the Trump Organization at a state court on Wednesday. Donald Trump Jr, Ivanka Trump and Eric Trump are named as defendants and are ...
May 31, 2022 · Melania isn’t the richest when compared to Donald’s ex-wives: Ivana, who got US$14 million, a mansion and a Trump Tower flat in the divorce settlement, is now worth US$100 million
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