Former U.S. President Donald Trump, a former “real estate tycoon,” has rejoined the global richest man ranks.
Citing Forbes, CNN reported on the 5th (local time) that former President Trump’s net worth was 3 billion dollars, which has increased significantly compared to his presidency, making him the 1012th richest man in the world.
Trump’s net worth was $4.5 billion when he ran for president in 2016. It decreased to $2.1 billion in 2020, but slightly increased to $2.4 billion last year, the first year of his retirement.
Analysts say that “Truth Social,” a social media company created by former President Trump, led to an increase in former President Trump’s net assets. Truth Social is a social media created by former U.S. President Trump, who was expelled from mainstream social media such as Twitter and Facebook, and has become an alternative to the conservative camp for Twitter.
“It was an unreasonable challenge for a 75-year-old man (former President Trump), who prefers to take notes with markers without even using e-mail, but he didn’t mind the new challenge,” said Dan Alexander of Forbes. “Truth Social seems to be much more profitable than the presidency.” In fact, net assets have already increased by 430 million dollars.
Truth Social is experiencing many difficulties in management, but its ransom in the market is rising.
According to Reuters, two CEOs of Truce Social recently left the company, and downloads from the Apple App Store have also declined sharply. In addition, the U.S. Securities and Exchange Commission (SEC) is investigating “Digital World Acquisition” (DWAC), a Truth Social acquisition company (SPAC).
Even in this situation, Truth Social’s stock price is soaring. Truth Social shares, which stood at about $10 until October last year, closed at $56 on the 4th.
Former President Trump is said to have exaggerated his assets without disclosing them accurately before as well as during his presidency. For example, according to the asset details as of the end of June 2014, which Trump announced when he announced his presidential bid in 2015, he claimed to have $8.7 billion worth of assets. However, Forbes explained that Trump’s net worth was $4.1 billion as of 2015.
