Donald Trump is richer than he's ever been after social media merger: Forbes
Donald Trump's net worth shot up more than $4 billion to a personal record high, according to a new analysis conducted in the wake of his social media merger.
Forbes calculated the former president's net worth at $6.4 billion, up from his recent $2.3 billion, on the first day of his social media company trading on the Nasdaq following a merger Monday between Trump Media & Technology Group Corp. and the blank-check company Digital World Acquisition Corp.
Shares closed at $57.99, up 16.1 percent Tuesday, to give the company a market value of $7.85 billion, and Trump holds a nearly 60 percent ownership stake that's now worth about $4.6 billion.
Trump supporters helped pump up Digital World earlier this year by more than double in anticipation of the merger, but analysts cautioned that Trump Media generated only $4.6 million in annual revenue last year.
The ex-president holds an estimated $1.1 billion in real estate, when accounting for debt, according to Forbes.
His most valuable asset is at 1290 Avenue of the Americas, in which he holds a 30-percent stake of a Manhattan skyscraper near Trump Tower that's worth an estimated $248 million, while 555 California Street in San Francisco is worth an estimated $127 million.
Trump holds a stake in retail and residential properties at 6 East 57th Street and Trump Park Avenue that are worth $107 million and $105 million, respectively, while Forbes valued Trump Tower at $61 million.
The former president's Mar-a-Lago residence and private club is worth an estimated $292 million, and Forbes valued his 10 golf courses in six states at $270 million.
ALSO READ: TikTok disinformation is no more dangerous than this Fox News disinformation
Trump remains liable for $540 million in a pair of judgments in two New York lawsuits, in addition to legal bills, and his balance sheets will reflect that half-billion-dollar deficit until his appeals are resolved.
Last week, his lawyers said he was unable to pay the bond owed for his $464 million fraud case judgment. On Monday, the amount was cut by an appeals court to $175 million.
Trump's previous record high wealth, as determined by Forbes, was $4.5 billion in 2015, when he first entered politics, and he dropped off the Forbes 400 list altogether between 1990 and 1995 after a series of misguided business decisions nearly wrecked his real estate career.