Donald Trump enters world’s 500 richest list for first time in 11 weeks
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DONALD Trump has rejoined the Bloomberg Billionaires Index for the first time since Aug 6 as his media startup’s stock surges alongside his odds in political betting markets.
The former president’s fortune rose to US$6.5 billion on Tuesday (Oct 22), ranking him 481st on the list of the world’s 500 richest people. Trump Media & Technology Group, which owns Truth Social, has nearly tripled in value since late September, boosting his paper wealth.
Trump Media has been trading as a proxy for betting on the likelihood that Trump will be the next US president. The odds that Trump will win the Nov 5 election have spiked in recent weeks on betting sites Polymarket and PredictIt.
Trump’s net worth is the highest it’s been since Jul 22, the day after President Joe Biden dropped out of the race, which led to Vice-President Kamala Harris becoming the Democratic nominee. BLOOMBERG
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