• Fri. Jun 14th, 2024

Grant Cardone Shifts $500 Million from New York to Florida: What It Means for Trump and the Real Estate Market

BySamantha Jones

Mar 25, 2024
Trump’s stock surges following listing and court victory in civil fraud bond case

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. The appeals court ruling grants Trump an additional 10 days to provide the funding, causing a surge in shares of Digital World Acquisition Corp. (DWAC), the SPAC behind Trump Media & Technology Group’s listing on the stock market.

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.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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