Donald Trump's business empire was expected to be at unprecedented risk on Monday. Instead, that day turned into the greatest day in the history of the former president's wealth. In the face of a deadline to pay a fine exceeding 500 million dollars in a financial fraud case in New York, a state appeals court threw him a lifeline by reducing the amount he had to pay to 175 million dollars - an amount he claims he will cover.
Around the same time, his private social media company, Trump Media & Technology Group, completed a 29-month merger process, meaning that stocks worth billions of dollars on paper are now officially owned by Trump. Trump owns nearly 58 percent of the new company, and while he will be prohibited from selling shares for at least six months, the assets he owns immediately boosted his net worth on Bloomberg's list.
Ultimately, his net worth increased by more than 4 billion dollars. This means that for the first time ever, Trump joined the ranks of the world's 500 richest people on Bloomberg's Billionaires Index, with a net worth of 6.5 billion dollars. Eric Trump, executive vice president of the Trump Organization, stated, "We have a great company and feel greatly honored." Trump (77) has been wealthy throughout his life, but his wealth, which previously peaked at 3.1 billion dollars, was largely composed of real estate.
