Trump's net worth sees $600M boost since leaving office

April 5 (UPI) -- Former President Donald Trump's net worth has increased by $600 million since he left office, Forbes estimated Tuesday.

Trump is worth an estimated $3 billion, up from $2.4 billion a year ago.

The business magazine said the increase was fueled mostly by Trump's new social media platform, Truth Social. He and his team created the platform through his Trump Media and Technology Group as a replacement for more mainstream networks such as Facebook and Twitter.

Both of those popular networks banned Trump after the Jan. 6, 2021, attack on the U.S. Capitol.

Truth Social, which has been downloaded more than 1 million times, has boosted Trump's net worth by $430 million, Forbes reported.

The new assessment of Trump's wealth comes six months after Forbes dropped him off its list of the United States' 400 richest people. He came up some $400 million shy of the cutoff, falling off the list for the first time in 25 years.

Forbes blamed the drop on Trump's failure to diversify his assets from real estate to other thriving assets, such as technology stocks. Trump launched Truth Social in February and despite some glitches and a drop in downloads over time, it's proven valuable to the former president's net worth.

Trump owns at least 50% of shares in the company, Forbes reported, but he's unable to sell those shares unless Trump Media merges with a special purpose acquisition company.