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Former US President Donald Trump (77), who struggled with liquidity problems after being convicted of commercial fraud, announced a significant profit on the first day of trading on the Nasdaq technology exchange with his media company Media & Technology Group (TMTG). TMTG stock, traded under the symbol DJT, rose 36.3 percent to $68.09 (about 61 francs) at around 16:45 BST on Tuesday; sometimes even as high as almost 60 percent.
“I love Truth Social, I love the truth,” Trump said on his online network, Truth Social. He founded TMTG to found Truth Social. TTMTG merged with partner company Digital World Acquisition (DWAC) to go public.
Trump owns almost 80 million shares in the company; they are now worth more than five billion dollars (4.5 billion francs). But large shareholders like him must hold their equity capital for six months before they can sell it.
This is how big Trump’s wealth is
In a civil case in New York, Trump and his sons Donald Junior, 46, and Eric, 40, were recently convicted of artificially inflating the assets of his real estate empire over the years to obtain favorable terms from banks and insurance. companies. So Trump was fined nearly $355 million (320 million Swiss francs) plus interest in February, and his sons were each fined four million dollars (3.6 million Swiss francs) plus interest.
An appeals court on Monday significantly reduced the bail he had to provide, from about $454 million (about 410 million francs) to $175 million (just under 158 million francs). Therefore, payment must be made within ten days. Trump said Monday he would increase the amount within a specified period.
US magazine Forbes estimates Trump’s fortune at $2.6 billion (2.4 billion Swiss francs). However, most of these are tied to real estate, including hotels and golf courses, and therefore cannot be obtained immediately. Right-wing populist Trump wants to become US president again and is expected to run against Democratic incumbent Joe Biden, 81, in the November election. (AFP)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
