Donald Trump Net Worth Could Be Up $1.3 Billion By Tuesday Following Truth Social Success
Donald Trump could get another massive boost in his net worth this week.
After trading closes Tuesday, the former president is poised to receive an additional 36 million shares of Trump Media & Technology Group, which runs his social media site Truth Social.
These additional shares are worth nearly $1.3 billion based on the Monday price of $35.50 per share, CNN reported.
Trump would be able to receive this "earnout" bonus if the share price of Trump Media equals or surpasses $17.50 for 20 trading days within a 30-day trading period starting March 25, according to SEC filings.
RELATED: Donald Trump's Net Worth Up $4 Billion After Truth Social Deal, Now Among 500 Richest In The World
If Trump Media's share price doesn't fall below $17.50 on Tuesday, it would mean that the company has exceeded the benchmark minimum share price for 20 trading days, triggering the earnout.
While the share price has fallen drastically from the initial $70.90 per share when Trump Media began public trading in March, it has never traded below $17.50 in the past month.
If Trump gets the additional shares, he will own 114.75 million shares, or roughly 65%, of Trump Media.
(Photo : Getty Images/Douglas P. DeFelice)
"With more than $200 million in the bank and zero debt, Trump Media is fulfilling all its obligations related to the merger and rapidly moving forward with its business plan," a Trump Media spokeswoman told CNBC after being asked about Trump potentially receiving the earnout shares.
The stipulations for the earnout shares were part of the merger deal between Trump Media & Technology Group and the publicly traded shell company Digital World Acquisition Corp. (DWAC) in March.
The merger had seen the GOP 2024 presidential candidate's net worth shoot up by $4 billion.
Trump's nearly 80 million shares at the time were worth $4 billion on paper, giving him a new estimated net worth of $6.5 billion, according to Bloomberg.
But while this is good news for Trump -- who faces massive fines and legal fees in his various cases -- the former president would not be able to sell his shares within six months of the merger's closing date due to a lock-up provision, according to CNN.
(Photo : Alex Wong/Getty Images)
Trump is currently on trial in New York City after being charged with 34 counts of allegedly falsifying business records to conceal a hush money payment to porn star Stormy Daniels before the 2016 election in exchange for her silence on their alleged extramarital affair.
Trump has pleaded not guilty to all charges and denied the affair.
On Monday, opening statements began at the historic trial in Manhattan.
The prosecution accused Trump of orchestrating "a criminal scheme to corrupt the 2016 presidential election" and called the alleged hush money payment "election fraud," The Guardian reported.
Trump's lawyer, however, said the former president "did not commit any crimes" and argued that "there's nothing wrong with trying to influence an election. It's called democracy."
David Pecker, the former publisher of the National Enquirer, was called by the prosecution as the first witness to testify in the case. His testimony will continue Tuesday.
The trial is expected to last six to eight weeks.
