Former President Donald Trump has once again managed to make it into the Forbes 400 list of the richest Americans. Last year was the first time that Trump had not made into the list in 25 years after his finances had dropped, but now he finds himself on No. 343 on that list. This makes him tied with several other billionaires including casino magnate Steve Wynn, Campbell Soup heir Bennett Dorrance and Yahoo! co-founder David Filo. In 2021 Trump’s wealth was $2.5 billion whereas this year it has climbed to $3.2 billion according to Forbes estimation.
The richest person in the U.S. currently is Tesla CEO Elon Musk whose net worth is $251 billion according to Forbes.
The biggest reason for this increase in Trump’s wealth this year was his stake in Trump Media & Technology Group. This is his most valuable asset according to Forbes. Trump owns 80% of the venture and with the company going public its valuation has grown according to Forbes.
That SPAC, Digital World Acquisition Corp., 73 million shares that Trump holds are worth around $730 million. That is with the assumed price of $10 per share. However, the current rate of the shares is $16.60 when traded.
Forbes said that they only assume the share is $10 because they want to reflect the discounted rate that Trump and other big investors benefited from to get a “piece of the action.”
Digital World and Trump Media & Technology Group’s future is currently hanging on the merger to and the SPAC to be completed. This also depends on several investigations by the Securities and Exchange Commission and the Department of Justice.
