- Donald Trump's net worth has risen by about $600 million since last year, per Forbes' Billionaires List.
- Forbes estimates Trump's new social media app, Truth Social, boosted his wealth by $430 million.
- During his presidency, Trump's estimated personal wealth dropped by over $700 million.
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The billionaire jumped nearly 300 spots in Forbes' list of the wealthiest people in the world in large part due to his new social media app, Truth Social. The publication reported that the 75-year-old's development of the conservative social-media platform boosted his wealth an estimated $430 million.
Trump has done little to promote the app. Since the product was launched in February, Trump has only posted on the site once and has less than 1% of the number of followers on his app than he had on Twitter.
Despite declining download numbers, Forbes estimates that Trump's tech venture could prove a boon for the real-estate magnate going forward as Trump Media and Technology Group pursues a plan to merge with a SPAC that has garnered soaring stock prices in recent months. However, shares of the shell company, Digital World Acquisition Group Corporation, have slid over the past month, and Reuters recently reported that two key executives at the tech company quit.
Forbes based its estimate off an anticipated value of the shares Trump owns, assuming the deal closes. Both the Securities and Exchange Commission and the Financial Industry Regulatory Authority are currently investigating the deal.
A spokesperson for the former president did not immediately respond to a request for comment from Insider.
In October, Trump dropped off Forbes' list of the wealthiest Americans for the first time in 25 years. During his presidency, Trump's personal wealth dropped by over $700 million, according to Bloomberg's Billionaires Index, as the pandemic wreaked havoc on his investments in commercial real estate, resorts and hotels, and as his brand took a hit from its association with the siege on the Capitol.
With this latest net worth estimate, Trump is now ranked at the No. 1012 spot on Forbes' World's Billionaires List.