10 Things You Should Know About Donald Trump’s Net Worth
Donald Trump is currently the president of the United States, but he was a wealthy billionaire before he started his presidential campaign. At the age of 71, Donald Trump has had a long time to build up his net worth over the years. He came from a wealthy family, but his net worth was mostly built through his own hard work over the years. His past is nothing but impressive, and he did everything he could as a young adult to ensure his money would last a lifetime.
In 1968, Donald Trump graduated from the Wharton School of the University of Pennsylvania, which is known as one of the highest ranked schools in the nation. At the time, this school was one of the first to offer a real-estate program, and Donald Trump dreamed of making his fortune in real estate like his father did. He might be known as one of the world’s best branders due to his ability to make a brand under the Trump name. All of his investments have carried the unapologetic nature of his personality, but it has worked for him since he is one of the wealthiest presidents to ever be in office. However, searching for Donald Trump’s net worth on the internet is misleading, and it comes with a long string of numbers that may or may not be correct. Whether or not you are a fan of Donald Trump, there are a few things everyone should know about his net worth. Here are the 10 things you should know about the current president’s net worth:
10He Self-Describes His Net Worth is Somewhere Between $8-10 Billion
There’s no doubt that Donald Trump is wealthy, but the numbers that pop up from trying to find out his net worth are confusing. Donald Trump has said that his net worth was $8.7 billion back in 2015, and he released a balance sheet to try to prove this. Other sites put his net worth as far lower than this, but their numbers could be incorrect. Most people assume that Donald Trump’s branding is somewhere in the $100 million range, but his balance sheet says that his branding is worth $3.3 billion. This number could be the main deficit that other people fail to incorporate into their estimation of Donald Trump’s net worth.
His real estate properties amount to a whopping $4 billion, and a quarter of that are properties that he does not own 100% of. That means that $3 billion worth of real estate is owned 100% by Donald Trump, which is a huge sum of money considering most people have real estate investors that they share their fortune with. Donald Trump also accounts $300 million in other investments and branding like his investment in the Miss USA and Miss Universe pageants. The summary of his net worth from 2015 was extremely high, but considering that was two years ago, the numbers now are estimated to be even higher. This is a self-reported summary of his net worth.
9 Donald Trump is the Wealthiest U.S. President
Donald Trump is rich, and the numbers are astonishing. As he established himself as the United State’s President, he became the first billionaire president. In fact, other presidents in the past can’t even hold a candle to the kind of wealth he was. His net worth is more than five times the second wealthiest president the United States has ever seen.
The next wealthiest president was George Washington with an estimated net worth of $580 million. Due to the Trump Organization being a private company, it is hard to say the exact number that is tied to Donald Trump’s net worth, but he is wealthier than all of the past United States’ Presidents combined. This billionaire’s money may never run out, and it is clear he knows how to run successful businesses. While he has been described as a brash president, his wealth could make one assume that he can bring the United States out of the crushing debt they have been experiencing for years now.
Donald Trump’s presidency is still relatively new, and he wasn’t officially in office until January of 2017. It can be easily said that Donald Trump is forever going to be one of the wealthiest presidents that the United States has ever seen.
8 He Started His Business with a Loan from His Father
One highly controversial topic surrounding Trump’s enterprises and businesses is the loan that his father gave him to start out. When Donald Trump graduated college, he was already in a wealthy family. His father, Fred Trump, had helped Donald Trump start out in the business of real estate. Fred Trump had made his fortune by investing in a lot of military real estate, and he taught Donald the ins and outs once he was old enough to start out. Donald Trump relied heavily on his father’s connections to break into the highly competitive New York real estate market.
His father gave what Trump considered to be a small loan to start out his real estate business. However, the loan was in the $9-14 million range, which is more money than most Americans ever see in their lives. Many claim that Donald Trump owes his whole net worth to his father for the loan he gave him. Fred Trump also helped bail Donald Trump out when his casinos were losing money and they could not afford to pay the mortgage and employees.
The two Trumps have been under fire for illegal loans, but Donald Trump still built quite an empire with the loan his father gave him. While the loan was substantial in the eyes of Americans, it is a small amount compared to the billions he made from the original loan his father gave him. No one can say that Donald owes his net worth to his father Fred because he increased his net worth by 100 times. However, he may not have been as successful as he is today if he had never been born into the wealthy family that he was.
7His Businesses Have Filed for Bankruptcy
Bankruptcy is often hard to understand, and it is even harder to understand when it is the company of a billionaire. Donald Trump has a long list of businesses, and while the majority of them have been successful, some of them have been less than successful. A few of Donald Trump’s businesses have filed bankruptcy, but he has never filed for a personal bankruptcy.
Six of his hotels and casino businesses have declared bankruptcy in the past 25 years. These businesses still remained up and running during the time of filing bankruptcy due to the laws surrounding Chapter 11 bankruptcy. The hotels and casinos involved in the bankruptcy were the Trump Taj Mahal, Trump Plaza Hotel and Casino, Plaza Hotel, Trump Castle Hotel and Casino, Trump Hotels and Casino Resorts, and Trump Entertainment Resorts.
Trump’s hotels and casinos couldn’t meet the required payments necessary to keep them afloat, and they couldn’t renegotiate their debts like many other businesses do with the banks their loans come from. Due to this, these businesses were forced to declare bankruptcy. Bankruptcy allowed Trump to renegotiate the debts with banks. Many don’t understand how he took advantage of the banking system, but Trump claims it was just business and not a personal matter. Thankfully, Donald Trump has had many successful businesses over the years that outshine his six bankruptcies.
6He Received a Large Inheritance
Donald Trump’s father was fairly wealthy, and he made a good chunk of his money in real estate in New York. The majority of his money was made by building and selling homes for military families during World War II. He learned from his father, and they did a lot of business together until he passed away in 1999. Fred Trump wasn’t worth nearly as much as Donald Trump is, but he still received around $60 million in inheritance from his father’s estate. Some people have assumed that Donald trump actually acquired a lot more than that, but it can’t be proven since Fred’s estate was worth around $250-300 million.
Donald Trump has four siblings, and the estate of their father was split equally among the five children. While this inheritance money was probably more like a drop in the bucket for Donald Trump considering his large net worth, it is still a nice addition to any wealthy household. Whether or not it caused him to become even more successful over the past two decades is up for interpretation, but his father made sure that all his children were taken care of when he passed on.
5He Loves His Golf Courses
It is fairly well-known that Donald Trump loves to golf. He has been under some harsh scrutiny is his presidency for spending a lot of time away at the golf course. Some even claim that Trump loves golf more than all of the money he has made. However, Donald Trump knows that it is sometimes okay to mix business with pleasure, and that is exactly what he has done.
Donald Trump owns and manages around 18 different golf courses. In 2015, the revenue from his golf courses was a whopping $382 million, and it provides many jobs throughout the country.
Unfortunately, his numbers have been a bit off. When he built a golf resort in Scotland, he promised the country that it would supply roughly 6,000 jobs. In reality, it the golf course really only supplied 200 jobs, a number that is far off from the original promised.
While it is true that Donald Trump spends a lot of days away golfing, the revenue he receives from his courses is well worth the amount of money and time he has invested. It is one of the only investments in his net worth that he truly loves, and it doesn’t look like Donald Trump is planning on giving up golf anytime soon. The only other time he tried to invest in a business that would give him pleasure is when he tried to buy various sports teams. His offers were denied over the past few decades, and he has recently spoken out against the NFL in regard to their rules and regulations.
4He Owned a “University”
Universities that are non-profits have always been the regular thing, but recently many for-profit schools have popped up around the country and are making a name for themselves. Donald Trump decided to try and get in on this money maker with his Trump University education company. At this company, there were many courses offered in the fields that Donald Trump is well versed in. These courses sometimes were a day or a few months long, and they could cost anywhere from $1,500 or $35,000 per course.
The university came under fire in both 2005 and 2010 when they were informed that the word “university” in the company name was violating a New York law. The company then changed to Trump Entrepreneurial Institute. Unfortunately, the name change wasn’t enough to stop a lawsuit from happening in 2013. The lawsuit was highly covered during the presidential campaign, and its basis was that Trump University confused and made false claims to its customers. Many thought that these courses would give them a hand up in business, but it wasn’t a university at all. There were three different cases of people who filed a lawsuit against Trump University, and they were highly publicized before being settled for $25 million. The university was successful while it was up and running, and Donald Trump may have pocketed around $5 million from it. While that may not be a huge number to someone like Donald Trump, it did help his net worth a bit.
3Others Have Estimated His Worth to be About $3.5 Billion
The net worth of Donald Trump is highly debated, and it is a hot topic for many people. While his self-reported net worth is fairly high, when others look at his assets it breaks down to around $3.5 billion. Estimating net worth is fairly hard considering these billionaires could have hidden away cash in their bank accounts that is unknown. Due to this, the estimate is modest at best.
The biggest money maker in his net worth is his New York City real estate. He owns a lot of corporate high rise buildings, which he collects payments on every single month. This New York real estate is estimated to be $1.7 billion, which is about half of his net worth. He also owns $630 million in real estate outside of New York City, which is the second largest piece of his $3.5 billion net worth. Donald Trump’s beloved golf clubs and resorts estimate to be around $620 million of his net worth, and the remaining comes from $230 million in brand businesses and $270 million in cash and personal assets.
These numbers are all estimates that are broken down by financial analysts. Since Trump’s companies are private, no one can truly say what his net worth is. Most people assume it is probably somewhere between the self-reported and estimated net worth. Regardless of what it really is, it remains that Donald Trump is one of the wealthiest people in the world. He built his money on his personality, and he seems to be running his presidential office the same way.
2 He Owns a Foundation that Gives to Charity
Some people look at Donald Trump and see nothing but a rich man. However, Donald Trump has shown that he cares about other people by donating a lot to charity. Despite his personal donations, Donald Trump also runs a large charity foundation. It is called the Donald J. Trump Foundation, and it is a private foundation that was originally established in 1988 after the release of his book. He made it to give away all the revenue the book generated for him.
However, the foundation is still alive and well today. It cannot fundraise in New York because in 2016 they received a notification from a judge saying they were in violation of New York laws. Despite that, this foundation has given millions of dollars over the years to underprivileged children and conservative groups. Most of the money was donated to healthcare and sports charities that worked with children. Hospitals, athletic leagues, and even the Clinton Foundation have benefited from the donations this foundation has given them.
Unfortunately, with the digging into his past in the presidential campaign, many people said that this foundation was evading taxes, and was said to be raising funds unethically. They started to be investigated throughout the United States, and the decision was made that fundraising had to be done outside of New York if the foundation wanted to continue. While he doesn’t get any revenue from this charitable foundation, it goes to show that Donald Trump’s net worth isn’t all benefiting him and his family.
1He Wouldn’t Release His Tax Returns
Perhaps the most controversial thing that happened during Donald Trump’s campaign to become president was that he wouldn’t release his tax return. His tax return would have shown exactly what his net worth was, but for some reason he refused to release it. This was mostly controversial because his 1995 tax return became public, and it showed a $918 million loss. Due to how taxes work, this loss allowed Donald Trump to avoid paying a high rate of taxes over the next two decades.
Hilary Clinton released her tax return without a second thought, and many believed that Donald Trump wouldn’t share his tax return out of embarrassment. Some people even speculated that Donald Trump wasn’t truly a millionaire, and by releasing his tax return it would show that he wasn’t nearly as rich as he says he is. Investigations were launched into the past taxes of Donald Trump and his organizations, and the findings weren’t good. It showed that in the 1990s Donald Trump often avoided paying high rates of taxes by claiming financial ruin, which led him to use methods that were considered unethical but legal.
Donald Trump admitted to all of these tax methods, but he didn’t elaborate on how he used the benefits of them in the future. Due to his resistance in releasing his tax return, his exact net worth is going to continue to remain a mystery.
Donald Trump’s net worth is a long list of numbers, and none of us truly know how much he is worth. Regardless of the exact number, Donald Trump is a very successful businessman who is worth billions of dollars. While some of his methods to make money and successful businesses are controversial at best, he is now the wealthiest president the United States has and may continue to ever see.
His children and grandchildren are set with money for life, but Donald Trump is more well-known for his unapologetic personality that created the brand he is today. The television shows he has created and starred in are the cornerstone is what sets Donald Trump apart from your average billionaire. He rode his success right into the oval office, and he plans to do some big things while being president. Donald Trump’s presidency is very interesting, but his net worth hopefully qualifies him to create some good changes to the United States’ economy. While people either love or hate him, he is highly respected for the business empire he has created in his 70 years of life. He took a few million dollars and created a billion dollar industry, and he resigned his management positions within his businesses to his two oldest sons. Now, Donald Trump is focusing on being the best president he can be despite the divide his winning created amongst people in the United States. His companies continue to roll in money, and he even refused to take the presidential salary because of how much money he makes a year.