The Biden administration’s plot to bankrupt Donald Trump as part of their ongoing political attacks to stop him from returning to the White House is backfiring after reports emerged that the former president had been capitulated to one of the richest 500 people in the world.
Despite the attacks and media reports that Trump’s financial fortune was in jeopardy, the former president enjoyed his single-greatest day on record for creating wealth, The Blaze reported.
The Trump Media & Technology Group finalized a $300 million merger with the Digital World Acquisition Corp on Monday, resulting in Trump owning shares worth billions of dollars on paper.
According to Bloomberg, Trump’s net worth will soar by more than $4 billion, reaching $6.4 billion in his overall fortune.
The sudden increase in riches means that Trump will take his place among the world’s wealthiest 500 people.
Digital World is a special-purpose acquisition company.
Investopedia defines a SPAC as:
“A company without commercial operations and is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring or merging with an existing company.”
Shares of Digital World soared by 35% on Monday.
The Trump Media & Technology Group owns the hugley succesful Truth Social app platform.
The Trump Media & Technology Group is also poised to debut on the Nasdaq stock exchange under the “DJT” stock ticker on Tuesday.
The Trump Media & Technology Group CEO, former Rep. Devin Nunes (R-Calif.), said:
“As a public company, we will passionately pursue our vision to build a movement to reclaim the Internet from Big Tech censors. We will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressors.”
Meanwhile, Sen. J.D. Vance took a strong swing at Biden, saying his administration “wants Trump to die in jail and they want to bankrupt his family.”
Writing on X, the site formerly known as Twitter, Vance wrote:
“The Biden administration wants Trump to die in jail and they want to bankrupt his family. It is the biggest assault on democracy we’ve ever seen. If you’re too cowardly to call it out, you’re not ready for this moment in American politics.”
As Just The News reported:
Biden and his administration, particularly the Department of Justice led by Attorney General Merrick Garland, have been heavily criticized for unfair practices. Through extension of political party, at a minimum, and unknown if more at a maximum, prosecutions are ongoing in states led by Democratic prosecutors.
Trump faces 88 felony charges spread among four cases in Florida, Georgia, New York, and Washington. Classified documents are involved in Florida; trying to change an election result is at the crux of the Georgia case; in New York it is money paid for people’s silence; and in Washington, it’s attempts to subvert the results of the 2020 presidential election.
WATCH: MSNBC Guest Flips Out after Trump’s Court Win: ‘I Don’t Even Know What to Do’
