Trump earns another $600 million after a year

In the list of world billionaires just announced by Forbes magazine, former US President Donald Trump owns 3 billion USD, up from 2.4 billion USD last year. He is currently ranked 1,012 in the world, up nearly 300 places compared to 2021.

Trump has always prided himself on being a business acumen. Last year, he entered the technology field with which he had very little experience. Permanently banned by Twitter in early 2021, Trump announced that he would create his own social network, named Truth Socialthrough Trump Media and Technology Group.

By February 2022, this application officially appeared and has attracted more than 1 million downloads. Trump now has 835,000 followers on Truth Social – less than 1% of Twitter followers before. He also just posted a status: “Get ready. Your favorite President will see you soon.”

However, investors do not seem to care much about this. Trump Media’s merger plan with a SPAC (special purpose company) Digital World Acquisition has helped Digital World Acquisition stock increase from $10 in October 2021 to more than $50 today. Based on public documents, Forbes believes that Trump owns at least 50% of the shares. This magazine calculates that Truth Social alone has increased Trump’s fortune by $ 430 million in the past year.

However, the merger has yet to take place. Many even doubt it will ever come true. The US Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) are also investigating the deal.

Ha Thu (according to Forbes)