Truth Social public offering nets former president $US4 billion [Video]

Truth Social owner Trump Media and Technology Group has finalised its deal to go public, creating a massive windfall for former president Donald Trump that doubles his net worth.

After Trump Media announced it would make its stock market debut on Tuesday (Wednesday AEDT), Trump for the first time joined the list of the world’s 500 wealthiest people on the Bloomberg Billionaires Index.

Bloomberg estimated Trump’s net worth spiked by $US4 billion ($6.1 billion) in just a day, giving him a fortune of $US6.5 billion.

The closing of the merger between Trump Media and Digital World Acquisition Corp amounts to a multibillion-dollar windfall for Trump, who is the chairman and dominant shareholder of the new company.

News of the merger’s completion propelled shares of Digital World up 21 per cent. Buying continued into the afternoon, boosting Digital World 39 per cent …