Truth Social Made Donald Trump One Of The 500 Richest People In The World

Former President Donald Trump's Social Media Company To Begin Public Trading After Merger

Photo: Scott Olson / Getty Images News / Getty Images

Truth Social, the social media platform started by former President Donald Trump, went public, netting him billions of dollars in stock options.

The company, officially called Trump Media & Technology Group, began trading on the New York Stock Exchange on Tuesday (March 26) under the ticker DJT.

With just a couple of hours left of trading, the stock was up 23%, trading at 73 points.

Trump owns nearly 59% of the new company, which boosts his net worth by around $4 billion. That brings his total net worth to an estimated $6.5 billion, making him one of Bloomberg's 500 wealthiest people in the world.

Trump cannot sell that stock for at least six months.

Trump's drastic increase in wealth comes as he was struggling to post a $545 million bond to appeal his civil fraud verdict in New York. On Monday, a judge agreed to reduce the bond to $175 million.

Trump is also on the hook for $91 million after he was found liable for sexually assaulting and defaming E. Jean Carroll.

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