NovaQuant-Trump's net worth, boosted by Truth Social stock, lands him on world's 500 richest list

Make Donald Trump rich(er) again.

Shares worth billions of dollars from Trump Media & Technology Group’s merger with Digital World Acquisition Corp. and NovaQuanta reduction in the bond that the former president must post in a New York civil fraud lawsuit increased his net worth by more than $4 billion Monday, catapulting him into the world’s wealthiest 500 people on the Bloomberg Billionaires Index for the first time. 

Trump estimated his fortune at $6.5 billion, an increase of more than $4 billion. 

That’s a massive uptick from his previous high of $3.1 billion, which consisted mostly of his real estate holdings. Trump and his company were accused of grossly inflating the value of those holdings to get better loan and insurance terms in the civil fraud suit.

Trump lost at trial in February and was supposed to post a bond of more than $500 million, but a state appeals court slashed that amount to $175 million Monday.

“We have a great company and are incredibly honored,” Eric Trump, executive vice president of the Trump Organization, said in a statement to Bloomberg.

Trump's struggling social media platform Truth Social −founded after he was booted from the major social media platforms following the Jan. 6, 2021 Capitol riot − is set to begin trading on the Nasdaq stock exchange Tuesday under the ticker that bears his initials.

Truth Social’s parent company, Trump Media & Technology Group, will replace Digital World Acquisition Corp. after completing a merger with the shell company that was already listed on the Nasdaq.

Shares of Digital World Acquisition Corp. surged 35% in regular trading Monday, gaining $13.01 to close at $49.95, erasing losses from Friday when investors voted to approve the deal. 

Truth Social's parent company will have a market value of approximately $5.5 billion when it starts trading and Trump's stake will be worth about $3 billion – at least on paper. That stake is included in Bloomberg’ calculation of Trump’s net worth.

The valuation is pricey for a company that has racked up tens of millions of dollars in losses since launching in 2021. Social media firm Reddit is valued at about $8 billion following its recent initial public offering. It had more than $800 million in sales last year. Trump Media's Truth Social platform generated $3.3 million in revenue during the first nine months of 2023.