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Donald Trump falls off Bloomberg Billionaire list
The Former president did not feature among the 500 most richest people in the world
Trump’s company Truth Social traded at its lowest / Image- Instagram/Pixabay
Former President Donald Trump has seen in a frop in his net worth resulting from a decline in stock prices of his social media platform Truth Social.
As a result Trump did not feature on the Bloomberg Billionaires Index as of Apr.9. The index, which daily ranks the world’s 500 richest people, no longer lists Trump following a notable reduction in Trump Media’s stock price.
According to Forbes, Trump’s current net worth stands at US$4.8 billion on Apr.9 making him the 653rd richest person in the world. The lowest net worth listed on the Bloomberg Billionaires Index as of Apr.9 was US$5.81 billion.
According to media reports, Trump Media’s share prices began to fall after it merged with Digital World Acquisition Corp, a public shell company. Apr.9 was the first time the stock fell below US $35.50, the lowest level since it debuted on the market on Mar.26.
Notably, under the terms of his agreement, Trump who owns approximately 60 percent of the company is reportedly not allowed to sell his shares until September.
Meanwhile, Trump In a post on Truth Social last week said that he thinks thaE platform is doing pretty well with “200 milllion in cash and zero debt.” “I THINK TRUTH IS AMAZING!,” he wrote as part of a lengthy post.
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