Trump is now one of world’s richest people amassing $6.5 Billion
text_fields
New York: The US Presidential candidate Donald Trump for the first time entered the list of the world's wealthiest 500 people on the Bloomberg Billionaires Index, Bloomberg reported.
Trump’s net worth increased by more than $4 billion bagging a whopping fortune of $6.5 billion.
The huge turnaround in his wealth comes as he is facing a deadline to submitting a bond of more than $500 million in fraud lawsuit in New York.
But a court has cut down the amount, offering him a lifeline, to $175 million which Trump reportedly said he would cover, according to the report.
Alongside his social media company Trump Media& Technology Group has completed a merger process with Digital World Acquisition Corp, enabling him ‘shares worth billions of dollars on paper’.
‘We have a great company and are incredibly honored,’ Eric Trump, executive vice president of the Trump Organization, was quoted as saying.
The 77-year-old former President’s fortune was previously put at $3.1 billion which mostly included real estate properties.
Trump and his company were found to have been inflating by ‘billions of dollars a year for more than a decade to get better terms on loans.’
Trump was ready to post cash or bond to cover the law lowered amount after New York Attorney General Letitia James reportedly signaled at seizing his assets in the event of not complying with the verdict.
Meanwhile, Trump will not able to immediately cash in on his wealth from media merger as his shares are ‘locked up for roughly six months’, according to Bloomberg report.