President Biden took a jab at Donald Trump during a campaign fundraiser in Raleigh, NC, joking about Trump being “crushed by debt” and saying he couldn’t help him with his financial troubles. This is not the first time Biden has made a joke at Trump’s expense. However, the first time he mentioned Trump’s struggles with a $454 billion bond was during a campaign reception in Houston when Trump was not yet among the world’s richest 500 people. At that time, Trump was facing financial difficulties.
Trump’s fortune recently saw a significant increase, reaching $6.4 billion after the successful merger between his Trump Media and Entertainment Group and Digital World Acquisition Corp. The merger boosted Trump’s wealth by $4 billion, and as a result, he will now be listed on the Bloomberg Billionaires Index of the 500 wealthiest individuals globally. This increase in net worth comes after Trump’s company, Truth Social, began trading on the Nasdaq exchange under the ticker symbol “DJT,” which saw a significant rise in stock price before settling at $57.99.
The day following Biden’s comment about Trump’s debt, the former president received a legal victory as a New York appeals court ruled that he could post a reduced bond of $175 million in his civil fraud case. Trump’s legal team had struggled to secure the initial $464 million bond, approaching over 30 underwriting firms with no success. The appellate court granted Trump an additional 10 days to post the bond before the state, led by Attorney General Letitia James, could begin seizing his assets. Trump stated during a press conference that he had the necessary funds to post the bond quickly and expressed confidence in winning the case.
The ongoing legal battle and financial challenges faced by Trump have garnered attention as he continues to navigate his civil fraud case. Despite the hurdles, Trump’s recent increase in net worth and success in his media ventures have provided him with some financial stability and a strong position in the billionaire rankings. The back-and-forth between Trump and Biden showcases the ongoing tensions and rivalry between the two political figures as they exchange jabs and comments in public forums. It remains to be seen how Trump’s financial situation and legal battles will unfold in the coming days and how Biden and other political figures will respond. The dynamics between Trump and Biden continue to be a source of entertainment and contention in political circles.
