Trump’s stock surges following listing and court victory in civil fraud bond case

Trump Reprieve Boosts Private Equity Fund Manager’s Interest in Florida Real Estate Investments

Private equity fund manager Grant Cardone has decided to shift $500 million meant for New York real estate investments to Florida. This move comes after former President Donald Trump received a reprieve from New York state authorities on Monday. An appeals court agreed to block the seizure of his assets and reduced the required bond from $454 million to $175 million, with an extended deadline for payment.

The initial deadline for Trump to post the bond was midnight on Monday, as he faces a civil fraud judgment for overstating his net worth and property values. Trump’s lawyers cited difficulties in finding a surety company willing to cover the bond without him putting up over $557 million in cash. However, with the appeals court ruling granting Trump an additional 10 days to provide the funding, shares of Digital World Acquisition Corp. (DWAC), the SPAC behind Truth Social’s listing on the stock market, experienced a surge in value.

The merger involving DWAC values Trump’s stake in Truth Social at around $3.3 billion. The situation is still developing, so stay tuned for further updates on this matter.

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