• Wed. May 22nd, 2024

Private Equity Shift from New York to Florida: Cardone Capital Grants $500 Million for Florida Real Estate Amidst Trump’s Legal Battle”.

BySamantha Nguyen

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

Private equity fund manager and Cardone Capital Grant Cardone has decided to shift $500 million meant for New York real estate investments to Florida. This move comes as 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 Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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