Home News Trump has overtaken Soros on the list of the world’s richest people

Trump has overtaken Soros on the list of the world’s richest people

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Trump has overtaken Soros on the list of the world’s richest people

The former US president’s net worth jumped by $4 billion this year, according to the Bloomberg Billionaires Index

Former US President Donald Trump is now richer than billionaire financier George Soros after his social media company, which made a successful Nasdaq debut this week, added billions of dollars to his fortune.

According to Bloomberg Billionaires IndexTrump’s net worth has risen by more than $4 billion this year to an estimated $7.8 billion.

Trump was ranked 328th on the list as of Wednesday’s close, while Soros, 93, was ranked 375th with an estimated net worth of $7.2 billion. Hedge fund manager Soros became famous for crashing the British pound in 1992.

Meanwhile, Trump’s increase in wealth also ranks above the likes of billionaire entrepreneur and ABC ‘Shark Tank’ star Mark Cuban ($7.3 billion), Home Depot co-founder Bernie Marcus ($6.9 billion), oil dynasty heir Gordon Getty ( $6.2 billion) and Netflix Co-Founder Reed Hastings ($5.9 billion).

The former US president’s net worth has more than doubled this year thanks to his 58% stake in Trump Media & Technology Group, which went public this week after merging with shares of Digital World Acquisition Corp. Trump Media, whose new ticker matches the former president’s initials to the stock, drew considerable attention, gaining nearly 60% in the first half hour of trading on Monday.

It comes as Trump faces hundreds of millions of dollars in mounting legal fees and penalties from numerous lawsuits the presumptive Republican presidential nominee has denounced as bogus and politically motivated.

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As part of the trial, in which New York State Attorney General Letitia James accused Trump’s business of fraud, Judge Arthur Engoron last month required the former president to post $454 million in bail to even file an appeal. James was preparing to foreclose on Trump’s Manhattan property when an appeals court announced Monday that it would lower his bail to $175 million and extend the filing deadline for another ten days.

Earlier this month, Trump was forced to post $91.6 million in bail to appeal a defamation conviction against E. Jean Carroll. Trump is still appealing the $5 million judgment a jury awarded Carroll last May after it determined the former president sexually abused her.

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