Donald Trump has recently found himself caught up in the middle of legal penalties and operating losses in his businesses as his presidential campaign faces a cash crunch.
However, instead of seeing a decline in his wealth amid these challenges.
As he attended his New York civil fraud case ruling on Monday, Trump’s net worth climbed over $4 billion to about $6.5 billion, according to Bloomberg, a global ranking of the 500 wealthiest people in the world.
This spike was attributed to a recent merger between Trump’s social media company, Trump Media and Technology Group, and a shell company, Digital World Acquisition Corp, known as DWAC.
The 77-year-old Republican presidential candidate owns nearly 58% of Trump Media, which operates his social media site Truth Social, making his stock worth $4 billion on paper at DWAC’s closing price of $49.95 a share on Monday.
The share price of DWAC rose by 35% on Monday as a New York appeals court reduced the amount of cash needed for a bond, saving the former president from paying a $454 million civil fraud penalty.
Earlier on Monday, Trump struggled to secure a bond over $550 million to prevent the state from seizing his real estate assets.
However, an appeals court ruled that Trump only needed a $175 million bond and paused the judgment from coming due for 10 days.
