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Donald Trump’s net worth has surged to over $4 billion, placing him at 377th on the Bloomberg list of billionaires. This increase in wealth was attributed to the successful IPO of his social network, Truth Social, which outperformed tycoon George Soros and moved him down a rank.

Trump’s wealth skyrocketed thanks to his majority stake in Trump Media & Technology Group, which owns Truth Social. The company went public under the symbol DJT after merging with Digital World Acquisition Corp. On Tuesday, the company’s shares surged 54% within half an hour of going public, with a further 14% rise on Wall Street on Wednesday.

The potential value of Trump’s position could reach approximately $5.3 billion, increasing his total wealth to about $7.9 billion. However, he will be restricted from selling shares in the merged company for at least six months. Trump has expressed his desire to use some of his money for a potential presidential campaign in November and has stated that he will be able to pay a cash bail of $175 million to appeal a sentence requiring him to pay $454 million.

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