Trump Media & Technology Group's successful listing makes former president one of the world's 500 richest people – Trump Media & Technology (NASDAQ:DJT)

Ex-President Net Worth donald trump has seen a significant rise, propelling him into the list of the 500 richest individuals in the world. This financial boost is primarily due to the successful listing of his social media company. Trump Media & Technology Group (NASDAQ:DJT).

what happened: Trump's net worth increased by more than $4 billion. The 29-month merger process was recently completed, leaving Trump with billions of shares worth of stock. His net worth is now estimated at $6.5 billion, Bloomberg reported, despite facing a potential financial crisis due to a $454 million verdict in a New York fraud case.

President Trump's fortune to date, which peaked at $3.1 billion, was tied primarily to real estate. However, the recent merger and listing of Trump Media & Technology Group has significantly diversified his assets.

SEE ALSO: Former White House communications director says Wall Street bankers are laughing at Trump's fundraising

why is it important: shares of Digital World Acquisition CorporationThe company, which merged with Trump Media, closed Monday at $49.95, up about 185% since the beginning of the year. The jump in value means Trump's 58% stake in the company is worth an estimated $3.9 billion, according to Bloomberg.

On Tuesday, shares of the combined entity, Trump Media & Technology Group, rose 16.1% to $57.99, according to data from Benzinga Pro. In after-hours trading, the stock price was up nearly 5.6% at the time of writing. This further significantly increased the former president's wealth.

Trump Media & Technology Group's successful listing comes after a series of setbacks, including a delayed shareholder vote, an investigation and a lawsuit against Trump by TMTG's co-founders over dilution.

The company's business combination with Digital World was approved by shareholders last week and began trading on the Nasdaq on Tuesday, according to another report from Benzinga.

Interestingly, President Trump's decision to list his company on the Nasdaq rather than the New York Stock Exchange (NYSE) has garnered attention. Benzinga reported that Trump claimed to have avoided the New York Stock Exchange due to its harsh treatment of New York companies, but that Nasdaq is based in New York and is subject to the same laws and regulations. In view of this, this statement has been scrutinized.

Photo: Evan El-Amin/Shutterstock

Read next: Trump-linked Digital World acquisition, Wall Street billionaire Jeff Yass' company counts among largest institutional shareholders: Report