Here's How Donald Trump's Net Worth Surged $600 Million Since Leaving White House

Former President Donald Trump’s net worth rose by an estimated $600 million since leaving the White House in January 2021, according to Forbes' list of the wealthiest people in the world.

The former president has jumped more than 280 spots in Forbes’ World’s Billionaires List, landing on the 1012th spot from last year’s 1299th. His net worth also jumped from $2.4 billion in 2021 to $3 billion this year.

The latest development in Trump’s wealth is largely due to the launching of his new social media app, Truth Social. The app became available in February. The former president now has a total of 835,000 followers on the app, which is less than 1% of his followers count on Twitter.

The Truth Social app comes after Trump was suspended from Twitter following the insurrection at the U.S. Capitol in January 2021.

The launching of Truth Social through the Trump Media and Technology Group boosted his wealth by an estimated $430 million, Forbes reported. It is unclear where or what caused the other $170 million increase in Trump’s net worth.

The app buoyed Trump’s net worth despite suffering from a rocky rollout and a continuous plunge in downloads in the App Store. The company is now losing investors and executives. Additionally, Trump himself has not posted on his Truth Social profile in weeks, according to The Washington Post.

Despite the declining download numbers, Forbes estimated that Trump’s venture into the tech industry could further increase his net worth as the Trump Media and Technology Group pursues a plan to merge with a SPAC that has seen its stock prices soar from $10 to $50 in recent months.

Forbes also estimated that Trump would likely own 50% of the shares should the deal close. The value of the shares the former president would receive was an estimated $10 apiece.

However, shares of the shell company, Digital World Acquisition Group Corporation, have fallen over the past month. Additionally, two key executives of Trump’s Truth Social—Josh Adams and Billy Boozer—quit this month following the troubled launch and declining download numbers, eight people with knowledge of the matter told Reuters.

The Securities and Exchange Commission and the Financial Industry Regulatory Authority are currently investigating the deal between the Trump Media and Technology Group and the Digital World Acquisition Group Corporation.