Jim Cramer tells Donald Trump it's time for him to urge his media company's board to let him sell his shares NOW as his stake skyrockets to a value of $5 BILLION

CNBC's Jim Cramer is urging Donald Trump to tell the board of loyalists at the helm of his new media company to give him authority to sell shares as their rising price boosts his net worth by billions.

Shares of the Trump Media & Technology Group jumped as much as 50 per cent in morning trading Tuesday as the firm made its debut on the NASDAQ, days after shareholders of the Digital World Acquisition SPAC voted through a merger.

Even before trading started Trump's net worth had jumped by an astonishing $4 billion to reach an estimated total of $6.4 billion by one analysis. The latest gains pushed his wealth even higher.

Trump said Tuesday he had 'a lot of cash,' but there has been speculation he may be in a liquidity crunch after his lawyers said he was unable to obtain a bond to pay a $454 million court judgment in his New York fraud case. 

Sell!  CNBC host Jim Cramer said Donald Trump should tell the board of his new company it has an 'obligation' to vote to allow him to sell shares in his new company. Trump has nine days to pay a $175 million court judgment against him in his New York fraud case

Then an appeals court slashed the amount to $175 million Monday and gave him 10 days to raise the money or get a bond, Trump said he would be 'honored' to pay it. 

'Look at this – the DJT,' the Mad Money host said on air as the shares soared. 

'If I were Donald Trump, it's announced [78] million shares. This is the moment where you say that you have an obligation to release more shares. And I've got shares that I'd like to release,' he advised.

Trump is blocked from selling his shares for a period of six months. But the board can vote through a waiver that would allow him to do so – which could allow him to assemble more cash to pay court judgments as he fights through appeals or even tap funds to settle some of his soaring legal costs. 

'And that’s - the board can do that,' Cramer continued. 'The board can say no, but the board, I think – I'm not sure where Mr. Trump's head is, but this is a moment where he could very easily say, look, the stock's up 286%.

'No one would mind if I sold stock, so please let me do it. Now he may say, "I don't need to" because he's prideful.' But he said, 'No one would be begrudge him if he went to the board and said, look, I'd like to have some stock released.' 

Late Tuesday morning, shares were halted for volatility with prices up as much as 50 per cent.

With prices fluctuating between $67 and $78 per share, Trump's majority stake had jumped to as much as $5.3 billion. 

There are about 135 million shares outstanding, with Trump owning about 78 million of them. 

'I LOVE TRUTH SOCIAL, I LOVE THE TRUTH!' Trump posted Tuesday. Ethics watchdogs have warned of an opportunity to influence the candidate

Donald Trump, Jr. sits on the new company's board. Cramer said the former president should ask the board to waive a six-month window to allow him to sell shares

Wrestling exec and former Trump cabinet member Linda McMahon is also on the company board

Kash Patel, another Trump administration loyalist, sits on the board

Trump has packed the board with loyalists who might be inclined to yield to his wishes, although they also have obligations to other shareholders while overseeing a public company. 

Board members include Donald Trump, Jr., wrestling exec and former Trump Small Business Administration head Linda McMahon, who left her government post to join a Trump PAC in 2019, and former Pentagon loyalist Kash Patel.

The company's CEO and Director is former Republican Rep. Devin Nunes, who served as a Trump ally chairing the House Intelligence Committee during the Russia probe and held a steering committee role on Trump's campaign.

Also on the board is Robert Lighhizer, who served as U.S. Trade Representative under Trump.

Trump gave a hint that he was watching the markets Tuesday morning. 'I LOVE TRUTH SOCIAL, I LOVE THE TRUTH!' he posted. 

Just last week, Trump was expected to get a $3.3 billion windfall from the merger – an amount that has gone up.  

The boost in the price of DWA as Trump excelled in the primary process has convinced some analysts that people are in effect betting on Trump, anticipating company gains if he retakes the White House.

But ethics watchdogs are already warning about the risk of influence on the former president.

'It looks like there's an opportunity to influence a candidate,' Virginia Canter, chief ethics counsel for Citizens for Responsibility and Ethics in Washington (CREW) told Time. The cash gains 'may have provided him some level of access or influence that he might not otherwise have gotten.'