Donald Trump, who has long been measured against other wealthy, jumped 738 places on the list of billionaires around the world in the past year, landing in n ° 700.
Jamel Toppin for Forbes
Donald Trump came a decision of the Court of Appeal far from losing control of his empire. While some counted it, his supporters were hung, providing votes – and crypto – he needed to save his skin and double his fortune.
WHat a year for Donald Trump. Twelve months ago, his political prospects were trembling, his future financial nightmare. He estimated $ 413 million in cash on his balance sheet and a fraud judgment of $ 454 million against him in New York. While the Prosecutor General of New York Letitia James thought about the seizure of his assets – “I look at 40 Wall Street every day” – Trump did the best: he fought, he sold, he won. The result: the 47th American president has more than doubled his estimated fortune, from $ 2.3 billion to $ 5.1 billion.
Trump learned a long time ago that delays can be as precious as victories. Admitting that he could not afford to reimburse the $ 454 million in cash, the Trump’s legal team suggested that a court of appeal renounces or reduces the amount of obligations. The courts do not always grant such a grace, but they have done so in this case, dropping the requirement at $ 175 million and eliminating an asset crisis.
Then Trump showed why he is the biggest seller in American history. The day after the prolongation of the courts, he took his social media business, the parent company of Truth Social, public. It is not really a business – a few million income, tens of millions of losses, but it did not matter for investors who love Trump, who made actions at unreasonable heights, to play on the absurdity of all this and to add billions to Trump’s fortune in the process. The mania is up, with the action 72% reduction on its top, but it has never disappeared, leaving Trump with a participation of 2.6 billion dollars on March 7, the day Forbes Located prices for its annual classification of billionaires.
This stimulated his net value, but with Trump hung on his actions, he did not offer any liquidity. He therefore had to work by tightening a bazaar of other articles – bibles, sneakers, guitars – moving to the problem until he solves it by selling the most absurdable product: the crypto Trumpified. He started in October With a project called World Liberty Financial which targeted cryptographic beginners with tokens that cannot be sold and vague promises of a “financial revolution”. (He is listed as the main defender of cryptography, while the sons Eric, Don Jr. and the recruit of Nyu Barron are marked as web ambassadors.) Personal person noticed until Trump wins the presidential election a few weeks later. Then, stimulated by a deregulation burst and $ 75 million in crypto hypeter Justin Sun,, Others have stacked, finally sending around $ 390 million, or around $ 245 million after Trump.
A few days before its inauguration, the elected president unveiled $ Trump, a digital token that did not even claim to be an investment but offered players another game to play. Many have done so, generating about $ 350 million in negotiation costs and a crypto linked to a dollar for entities related to him. Trump’s exact taking is troubled – he has a partner in the project, an entity that would have been linked to Bill Zanker, an old friend who co -author the 2007 book Trump: think big and kick your ass– But it is prudent to assume that the president left with at least $ 110 million after tax.
Trump still owes this fraud judgment – and while he calls, interest accumulates, pushing the total to around $ 500 million. Letitia James probably no longer wants 40 Wall Street – it is deep underwater, thanks to the coutation values for office towers and a big loan against property. But it is difficult to imagine that Trump, suddenly rinse with nearly $ 800 million in estimated liquidity thanks to the sale of his tokens, is too worried about the building or the Attorney General. He is a crypto king now.
See here for a complete ventilation of what Donald Trump has, what he owes and what everything is worth.
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