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It is true that Donald Trump, the former president of the USA, is not the most loved person in the world. Also, the truth is that no one can ignore it, certainly not Forbes. The billionaire everyone loves to hate is back on the Forbes list of the 400 richest Americans after a one-year absence.
His estimated net worth has risen from $2.5 billion to $3.2 billion, putting the former president at number 343 on the list of America's richest people. 2021 has certainly not started well for a man with a unique ability to self-sabotage.
The stance he took on January 6, 2021 with the riots in the Capitol caused a storm of disgust. As a result, many companies distanced themselves from Trump, while Twitter permanently suspended his account. However, apparently he was not particularly disturbed by this.
Aside from his rather stagnant hotel and casino empire, Trump has been doing what he does best. He announced the creation of a new company, Trump Media and Technology Group, and launched his "own Twitter," called Truth Social.
Today, Trump's media and technology group is his most valuable asset, which has significantly contributed to his rise to the list of the richest people in the US.
Trump Media & Technology Group
According to Forbes analysis, the former president is the owner of about 80 percent of the company.
Their valuation is based on the prospect of Trump Media & Technology Group going public through a so-called special purpose purchase company, or SPAC. In addition, Digital World Acquisition Corp reportedly expects to raise nearly $1 billion from Trump Media & Technology Group, despite skepticism from its investors.
In addition, another factor that contributed to the increase in Trump's wealth was the sale of his hotel in Washington for $375 million to the Waldorf Astoria chain. The sale of the hotel allowed Trump to pay off a controversial $170 million loan from Deutsche Bank and save about $135 million.
According to Forbes, due to a series of other jobs, Trump has paid off other loans, putting his balance sheet in a stronger position today than it has been in years, with about $375 million in cash, an increase of $79 million from the previous year.
In short, in just 12 months, Donald Trump managed to change the game and from his exit from the Forbes list of the 400 richest Americans due to large debts and problematic business, he triumphantly returned to regain his lost place.