Trump Rejoins The Forbes400 A Year After Falling Off The List
he New York attorney general hit Donald Trump with a $250 million lawsuit last week, accusing the real estate mogul of engaging in financial fraud by lying about the value of his assets. But make no mistake, Trump is extremely rich. In fact, the former president climbs back onto The Forbes 400 this year after dropping off 12 months ago, with his estimated net worth jumping from $2.5 billion to $3.2 billion, enough to qualify for No. 343 on the ranking of America’s richest people.
The roots of his resurgence go back to Jan. 6, 2021, when the riot on the U.S. Capitol prompted a backlash against the president. Several companies tried to distance themselves from Trump, and Twitter permanently banned him from its platform. Nine months later, out of office and sitting atop a stagnant business empire, Trump announced the creation of a new company, the Trump Media and Technology Group, and its intended competitor to Twitter, Truth Social.
The Trump Media and Technology Group is now the former president’s single most valuable asset. An analysis of Securities and Exchange Commission filings suggests that Trump owns more than 80% of the venture, which has run into a host of issues trying to go public via a special purpose acquisition company. Despite federal investigations andForbes
locked in the value of publicly traded holdings for this year’s list. At that price, Trump’s 73 million shares would be worth $1.8 billion. Butvalues Trump’s interest at a more conservative $10 per share, reflecting the discounted rate that a handful of big-money investors agreed to pay for a piece of the action. At that price, Trump’s stake is worth about $730 million.
That alone would be enough to vault Trump back on to The Forbes 400, but he has had other recent successes as well. In May, the former president sold his hotel in Washington, D.C. for a reported $375 million,
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