Donald Trump has joined the list of the world’s top 500 wealthiest individuals following a surge in the value of shares of his social media firm on their first day on Wall Street.
Trump Media and Technology, the creator of Truth Social, which competes with Twitter, saw its shares jump over 50% following its debut on the Nasdaq. This was achieved through a merger with Digital World Acquisition Corp, a publicly traded special purpose acquisition company.
This surge in share value has raised the worth of Trump’s majority holding in the company to over $5.5 billion (around £4.3 billion), boosting his total estimated net worth to over $8 billion.
This increase qualifies him for a spot in Bloomberg’s Billionaires Index, featuring the world’s 500 richest people.
TMTG began its trading journey on Tuesday, represented by the stock ticker “DJT.”
The merger’s final approval came last Friday when Digital World Acquisition Corp’s shareholders voted in favour of the deal.
However, due to listing rules, Trump is restricted from selling any shares for a six-month period.
