Cardone Capital’s Grant Cardone has decided to transfer $500 million of real estate investments from New York to Florida 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.

Trump’s initial deadline to post bond was midnight Monday as he faces a civil fraud conviction for overstating his net worth and the value of his assets. Trump’s lawyers cited the difficulty of finding a surety company willing to cover the bond without him putting up more than $557 million in cash. The appeals court’s ruling gives Trump an additional 10 days to secure the funds, sending shares of Digital World Acquisition Corp. (DVAC), the SPAC behind Trump Media & Technology Group’s listing on the stock market, soaring.

The merger involving DVAC values Trump’s stake in Truth Social at about $3.3 billion. The situation is still evolving, so stay tuned for further updates on this issue.

By Samantha Johnson

As a dedicated content writer at newspuk.com, I immerse myself in the art of storytelling through words. With a keen eye for detail and a passion for crafting engaging narratives, I strive to captivate our audience with each piece I create. Whether I'm covering breaking news, delving into feature articles, or exploring thought-provoking editorials, my goal remains constant: to inform, entertain, and inspire through the power of writing. Join me on this journalistic journey as we navigate through the ever-evolving media landscape together.

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