Billionaire blessing for Trump: shares worth $1.3 billion

Billionaire blessing for Trump: shares worth $1.3 billion

Former US President Donald Trump recently faced a financial challenge when he struggled to raise $454 million in bail. A New York court convicted Trump of business fraud involving his real estate company, the Trump Organization. But thanks to an appeals court, the payment was reduced to $175 million, which was taken over by a confidant, Don Hankey.

As part of the IPO of his media company “Trump Media”, Trump received shares worth around $1.3 billion. He is using the social media platform “Truth Social” to manage his primary campaign in the race for the presidential nomination against Joe Biden. Still, analysts are critical of the company as it posted losses of $49 million in the first nine months of 2023 and generated just $3.4 million in revenue.

Another problem for Trump is the current legal disputes that make it difficult to redeem the shares for cash. Despite his company's decline in value from $10 billion to $4.78 billion, the shares awarded to him are still worth $1.3 billion. At the same time, Trump is once again in conflict with the judiciary as prosecutors accuse him of manipulating the presidential election. Recent developments suggested that Trump faces challenges both financially and legally.