Forbes estimates Donald Trump’s net worth to be around $2.6 billion in 2024.
He got money from his dad through gifts, loans, and inheritances.
His main business is in real estate, like hotels, casinos, and golf courses.
As of mid-February 2024, Forbes estimates that Donald Trump’s net worth is $2.6 billion, ranking him at No. 1,216 on the list of the world’s richest people.
Despite a decline in his wealth, the $88.3 million awarded in the Carroll rulings represents only a small fraction of his overall fortune.
Facing legal penalties because of defamation cases, the former US President has seen a significant reduction in his net worth, now standing at $2.6 billion.
U.S. presidents net worth before and after office:
Ronald Reagan: $10.6M ➡️ $15.4M
George H.W. Bush: $4M ➡️ $23M
Bill Clinton: $1.3M ➡️ $241.5M
George W. Bush: $20M ➡️ $40M
Barack Obama: $1.3M ➡️ $70M
Donald Trump: $3.7B ➡️ $2.5B
Numbers don’t lie.
What are your thoughts…
us president worth before and after office 2— Not Jerome Powell (@alifarhat79) December 12, 2023
Numerous legal challenges have marked Donald Trump’s journey to the White House, resulting in a substantial drain on his wealth.
According to Forbes data, the real estate billionaire has experienced a notable 46% decrease in his wealth since 2016.
Where does Trump’s wealth come from?
Trump’s wealth is primarily derived from real estate, encompassing residential buildings in New York City and a global portfolio of golf courses and hotels.
A significant portion of his assets include a $500 million stake in 1290 Avenue of the Americas, an office building located in Manhattan, according to Bloomberg.
Additionally, Trump holds approximately $600 million in liquid assets.
Bloomberg reported that Trump National Doral Miami Golf Resort, valued at approximately $300 million, stands as another significant asset in his portfolio.
Donald Trump’s main source of income revolves around his real estate ventures, extending from prominent developments in New York to diverse properties such as golf courses and hotels across the globe.
trump-net_63377124 (1)Here is a list of Trump’s 8 notable estates in New York City.
| Property | Ownership |
|---|---|
| Trump International Hotel and Tower Service | areas owned trump |
| Tower retail | and commercial portions, Triplex apartment-width |
| Trump Building ground | lease owned |
| 1290 Avenue of the Americas | 30% stake owned by Trump |
| Park Avenue possibly | owns some units |
| ‘Niketown’ | Ground lease owned by Trump |
| PARC and Trump PARC East, possibly | owns some units trump |
| Plaza possibly | owns some units |
Why has Trump’s net worth declined?
Some of Trump’s buildings lost value because of the pandemic.
His office spaces became less valuable because more people were working from home.
Forbes says the value of these offices dropped by $170 million.
The former president’s wealth has plummeted from a speculated $3.2 billion last autumn to $2.5 billion at present.
The primary factor behind this decline is the collapse of his once-promising social media enterprise, which was initially highly anticipated but has now led to a substantial $550 million reduction in his overall net worth.
It was supposed to be a conservative option for Facebook.
They thought it would get 40 million users, but by the end of 2023, only 6.5 million people had signed up.
Forbes now thinks Truth Social’s parent company is worth $100 million, down from $730 million in 2022.
But there’s still hope for Trump’s money.
A merger got approval, and Trump might get 79 million shares in the new business.
If the stock price is good, that could be worth up to $4 billion.
Even though Trump was once worth $4.6 million in 2016 and $3 million in 2022, Forbes now says he is worth $2.6 billion.
In October 2023, he was not on the Forbes 400 list of rich Americans because his net worth was $300 million less than the lowest amount needed to make the list.
Despite transitioning into a social media entrepreneur, the president retains his roots as a real estate investor, boasting a Manhattan portfolio valued at around $770 million post-debt.
This marks a decline from $1 billion a year ago and $930 million in September.
Donald Trump’s business career
Business Career
Donald Trump’s journey in the business world began in 1968 when he started working for his father’s real estate company, Trump Management.
The company owned rental homes in New York City, but they were only available to certain races.
In 1971, Trump became president of the company and started calling it the Trump Organization.
Over the years, he faced financial challenges, filing for bankruptcy protection for six businesses between 1991 and 2009, including the Plaza Hotel in Manhattan, casinos in Atlantic City, and the Trump Hotels & Casino Resorts company.
Manhattan Developments
In 1978, Trump gained attention with the renovation of the Commodore Hotel in Manhattan, later reopening it as the Grand Hyatt Hotel.
The same year, he obtained rights to develop Trump Tower in Midtown Manhattan, which became his primary residence until 2019.
In 1988, Trump acquired the Plaza Hotel, facing bankruptcy in 1992.
Despite financial struggles in the mid-’90s, he managed to develop Riverside South, a 70-acre tract in the Lincoln Square neighborhood.
Atlantic City Casinos
Trump ventured into Atlantic City, opening Harrah’s at Trump Plaza in 1984.
He faced financial difficulties, leading to the bankruptcy of both Trump Castle and Trump Taj Mahal in 1992.
The Taj Mahal, financed with junk bonds, filed for Chapter 11 bankruptcy in 1991.
Trump founded Trump Hotels & Casino Resorts in 1995, acquiring the Taj Mahal and Trump Castle, but the company went bankrupt in 2004 and 2009.
Clubs
In 1985, Trump acquired the Mar-a-Lago estate in Palm Beach, Florida, converting it into a private club in 1995.
The Trump Organization also entered the golf course business in 1999, owning and managing numerous Trump-branded courses globally.
Licensing of the Trump Brand
Trump’s name was licensed for various consumer products and services, generating substantial revenue.
However, by 2018, only two consumer goods companies continued to license his name.
Side Ventures
Trump engaged in various side ventures, including purchasing the New Jersey Generals football team in 1983 and hosting boxing matches in Atlantic City.
He also attempted to establish an American cycling race and engaged in stock transactions from 1986 to 1988.
In 1988, Trump purchased the Eastern Air Lines Shuttle, renaming it Trump Shuttle, but defaulted on loans in 1991, leading to its eventual sale to US Airways.
All County Building Supply & Maintenance Corp.
In 1992, Trump and his family formed All County Building Supply & Maintenance Corp., allegedly a shell company for paying vendors to provide services for his rental units.
The increased costs were used to justify rent increases for Trump’s rent-stabilized units.
Miss Universe Pageants
From 1996 to 2015, Trump owned or had a stake in the Miss Universe pageants.
Because of disagreements with CBS, he moved the pageants to NBC in 2002.
In 2007, Trump received a star on the Hollywood Walk of Fame for his work as a producer of Miss Universe.
Trump University
In 2004, Trump co-founded Trump University, offering real estate training courses.
The company faced legal issues, changing its name to the Trump Entrepreneur Initiative in 2010.
In 2016, Trump agreed to pay $25 million to settle lawsuits alleging false statements and fraud against Trump University.
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