Donald Trump, US presidential hopeful, joins world’s 500 wealthiest men

In a reversal of fortune, former US President Donald Trump, who is seeking a re-election to the presidential office, saw on Monday (March 26) his fortune rise by more than US$ 4 billion to join the club of world’s 500 richest men.

With an increase in his net worth, Trump’s fortunes stand at $6.5 billion, placing him on the same pedestal as Joe Ricketts, Gordon Getty, and Tony James in world ranking, according to Bloomberg Billionaires Index. “We have a great company and are incredibly honoured,” media reports quoted Eric Trump, executive vice-president of Trump Organization, as saying after Bloomberg made its ranking public.

This is for the first time ever that Trump has made it to Bloomberg’s ranking of 500 wealthiest men, with a fortune of $6.5 billion. Bloomberg Billionaires Index has been tracking Trump’s fortune since 2015.

Fraud lawsuit

Trump, 77, who is embroiled in a New York fraud lawsuit, was faced with a deadline to deposit a bond of $454 million on Monday (March 26), with New York Attorney General Letitia James suggesting her office was ready to seize his assets if Trump failed to comply. In another reversal of fortune, however, an appeals court drastically cut the amount to $175 million, which Trump said he would cover.

The former President, who is giving the White House a shot again in November this year when the country will vote, owns hotels, office and residential buildings, golf courses and estates, including 40 Wall Street, an office building in New York, Trump Tower in Manhattan, and the Mar-a-Lago resort in Palm Beach in Florida. His assets were worth $4.3 billion in 2021, according to a financial statement, whereas he had $293.8 million in cash and cash equivalents. A year later, Trump reported $537 million in revenues, which he earned from golf courses and hotels, in addition to $30.4 million which he earned in licensing fees and royalties.

After the news of his making it to the ranking spread, shares of his company DWAC closed at $49.95, putting Trump's 58 per cent stake at $3.9 billion.