President Biden made a joke at a campaign fundraiser in Raleigh, NC, about Donald Trump being “crushed by debt.” This joke referenced Trump’s struggles to come up with the $454 billion bond to fight his civil fraud judgment. Trump was not among the 500 richest people in the world at the time of this previous joke at the campaign reception in Houston. However, Trump’s net worth reportedly ballooned to $6.4 billion this week after the successful merger between his Trump Media and Entertainment Group and Digital World Acquisition Corp.
The merger between Trump’s Truth Social parent company and the blank-check acquisition company raised his wealth by $4 billion. Consequently, Trump will now be listed on the Bloomberg Billionaires Index of the world’s wealthiest 500 people. Trump’s company, Trump Media, had a successful first day on the Nasdaq exchange, with the stock price rising as much as 50% before ending the day at $57.99. This significant increase in wealth for Trump could potentially change the perception of his financial status.
Biden’s most recent swipe at Trump’s “debt” came after the former president received a last-minute legal victory allowing him to post a reduced bond of $175 million to fight the massive judgment in his civil fraud case. Trump’s lawyers had previously struggled to secure the initial $464 million bond amount despite approaching over 30 underwriting firms. The New York appeals court has given Trump another 10 days to post the bond, or the state, led by Attorney General Letitia James, can begin to seize his assets.
During a press conference, Trump expressed confidence in his ability to post the reduced bond amount, stating that he has a lot of cash available. He mentioned that he would be able to put up cash, bond, or securities quickly to meet the obligations set by the court. Trump seemed determined to fight the civil fraud case and expressed confidence in his ability to win the case. The recent legal developments and financial success of his company have potentially shifted the narrative around Trump’s financial situation.
The relationship between Biden and Trump has been characterized by occasional jabs and jokes, with Biden often making witty comments about Trump’s financial struggles or legal issues. Trump’s resurgence in wealth and legal victories provide new fodder for such interactions between the two political figures. The public nature of their interactions and the media coverage of their exchanges add an element of entertainment and drama to their ongoing relationship. It remains to be seen how their dynamic will continue to evolve in the future.
The political and personal rivalry between Biden and Trump has been a prominent feature of American politics in recent years. Their exchanges provide insight into the ongoing tensions and divisions within the country. The public nature of their interactions allows voters and observers to form opinions about the two men and their respective approaches to governance. As they continue to navigate the complexities of politics and public life, their relationship will likely remain a topic of interest for many Americans.
