Almost every US president has had a fair bit of wealth, but Donald Trump was the wealthiest man ever to hold the title.
After nearly four years since he lost to President Joe Biden, Donald Trump is running for President again. And he’s even richer now than he was back then. He’s one of the 500 richest people in the world. If he takes back the Office, he’ll beat his record for the wealthiest President ever by more than 200%.
Donald Trump’s Net Worth
Getting the exact figure for Donald Trump’s net worth has always been a challenge. Reports have been all over the place in the past decade, ranging from $1 billion to $3.1 billion and everything in between.
The reason why it’s so difficult to figure out Donald Trump’s massive and successful business fortune is because a large portion of his money is either in the stock market or in his real estate properties. However, as of February 2024, the most accurate guess was that Trump’s net worth is about $2.6 billion.
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How a Court Judgement Almost Made Trump Lose Everything
March 25, 2024, is a day Donald Trump will never forget. On that day, his whole world almost came crashing down. However, the total opposite happened. That day, Donald Trump was supposed to pay nearly $500 million in bonds to the New York court system.
The judge had ruled against him exactly one month prior and slapped him with a $464 million fine to be paid within 30 days. However, Trump said he would appeal the decision and wanted the fine removed.
However, the judge then ruled that the former President still had to pay nearly half a billion dollars. The judge also stated that the money would be held on bond until his appeal was either approved or denied.
As a result, Trump’s lawyers filed a massive 5,000-page document. They said Trump tried to get a loan from over 30 banks, but none was approved. They argued that the bond should be much smaller because $464 million was unheard of and, more importantly, impossible to pay.
Just when it seemed like Trump was going to have to pay $464 million of his own money to pay the high bond, the courts sided with him and reduced the fine to $175 million.
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Trump Made Over $4 Billion in a Day
Donald Trump didn’t just save a few hundred million on March 25 but also made over $4 billion. On March 25, 2024, his social media company, Trump Media & Technology Group, officially merged with Digital World Acquisition Corp. He and his shareholders made billions of dollars in just minutes.
By the end of the day, the former President’s net worth had skyrocketed to a massive $6.5 billion. Just two days later, Forbes increased that number to $7.1 billion. If Forbes’ calculations are correct, Trump is officially one of the 500 richest people in the world.
Trump Made It to the Bloomberg Billionaires Index
The Bloomberg Billionaires Index lists the 500 richest people in the world. Although Trump has always been rich, he has never made it onto that list until now. Trump finally earned a spot among the wealthiest.
The 58% stake in his social media company shot him right up the list. But here’s the thing: Just like all the other 499 billionaires on that list, it’s not exactly Trump’s money yet. He’s got potential wealth, but he has to make it happen.
While it’s a massive deal to make it onto this list, it’s important to get that the majority of Trump’s new fortune won’t be available for at least six months. Even though the stock market can be a wild ride, most experts believe that Trump’s company will continue to make money.
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Can Trump’s New Money Aid His Campaign?
In the past month, the Republican party has been getting a lot of buzz for not coughing up enough funds for Trump’s campaign. They’ve been spending on court cases, and people are getting worried if they’ll have enough finances to make it through the final stretch before the election.
It is not certain if Trump will use his newfound wealth to pay back the Republican Party and cover the campaign expenses, but he’s got the option if he feels like it.
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