On Monday, it was reported that Donald Trump, the former President, achieved great wealth, with his net worth surpassing $6 billion. This significant increase in wealth came after the completion of the merger process for his social media company, Trump Media & Technology Group (TMTG). The merger was finalized after more than two years of efforts. As a result, the newly formed company’s shares will be available for trading on the Nasdaq starting Tuesday, with the new ticker symbol DJT:

“The transaction would provide a windfall to Trump, who owns more than 60 percent of TMTG. His share of the merged company, expected to be around a 58 percent stake, could be worth around $3 billion at recent market prices. Trump’s shares are subject to a six-month lock-up that would prevent him from selling shares or pledging them as collateral for loans, a standard provision in many initial public offerings and SPAC deals. The board, however, could waive the lock-up to allow him to pledge his shares to support an appeal bond in the fraud judgment against him in New York.”

On Monday, Bloomberg reported that the former president has secured a spot on their list of the 500 wealthiest individuals worldwide due to the successful merger and rise in stock price. According to the media organization, Trump’s estimated net worth now stands at $6.4 billion.

This increase in wealth for Trump is particularly significant as he has recently faced financial setbacks. In two separate cases, two judges had previously imposed fines on Trump, amounting to just under $500 million.

Furthermore, a New York appeals court ruled on Monday that Trump must post a $175 million bond within ten days in order to appeal a civil fraud judgment worth $464 million. Trump assured reporters that he would back the bond with cash.

“It will be my honor to post [the bond],” he said.