Donald Trump net worth is one of the most controversial and influential figures in American politics. He is also a billionaire businessman, who has built a vast empire of real estate, golf courses, hotels, casinos, media, and more. But how much is he really worth? And how did he make his fortune?
The sources of Trump’s wealth
According to Forbes magazine, which has been tracking Trump’s wealth for decades, his net worth as of September 2023 was $2.6 billion¹. This is a significant decline from his peak of $4.5 billion in 2016, before he became president². The main reasons for this drop are the impact of the Covid-19 pandemic on his businesses, especially in the hospitality and entertainment sectors, as well as the legal and political troubles that have tarnished his brand and reputation³.
Trump’s wealth is mainly derived from four sources: golf clubs and resorts, New York City real estate, cash and personal assets, and non-New York City real estate¹. Here is a breakdown of each source and how much it contributes to his net worth:
- Golf clubs and resorts: $870 million. Trump owns 17 golf properties around the world, including his flagship Mar-a-Lago resort in Florida, where he spends most of his time after leaving the White House. However, many of these properties have been struggling to attract customers and generate profits, due to the pandemic, environmental issues, and political backlash⁴.
- New York City real estate: $690 million. Trump’s most valuable assets are his stakes in several iconic buildings in Manhattan, such as Trump Tower, 40 Wall Street, and 1290 Avenue of the Americas. However, these properties have also suffered from lower occupancy rates, rents, and valuations, due to the pandemic, the shift to remote work, and the decline of Trump’s brand appeal⁵.
- Cash and personal assets: $640 million. Trump has a large amount of cash and liquid assets, such as stocks, bonds, and mutual funds. He also owns several personal assets, such as his private jet, helicopter, yacht, and luxury cars. However, these assets are not enough to cover his debts, which amount to more than $1 billion, according to Forbes¹.
- Non-New York City real estate: $190 million. Trump owns several properties outside of New York City, such as residential buildings, hotels, and golf courses. Some of these properties are doing well, such as his hotel in Washington, D.C., which he leased from the federal government. However, others are facing challenges, such as his hotel in Chicago, which is in default on its loan⁶.
The controversies of Trump’s wealth
Trump’s wealth has been a source of controversy and debate for many years. He has often claimed that he is worth much more than what Forbes and other sources estimate, citing his own valuations of his assets and brand. For example, in 2015, when he announced his presidential campaign, he said he was worth more than $10 billion⁷. However, these claims have been disputed by analysts, journalists, and critics, who accuse him of inflating his net worth and hiding his debts and losses.
Trump has also been reluctant to disclose his tax returns, which would provide more details about his income, expenses, and taxes. He is the first president in modern history to not release his tax returns to the public, citing an ongoing audit by the Internal Revenue Service (IRS). However, in September 2020, the New York Times published a series of reports based on leaked tax records, which revealed that Trump paid only $750 in federal income taxes in 2016 and 2017, and that he had reported losses of more than $1 billion over a decade⁸. These reports raised questions about his financial situation, his business practices, and his potential conflicts of interest.
Trump is also facing several legal and criminal investigations related to his finances, both at the federal and state levels. Some of these investigations include:
- The Manhattan district attorney’s office is investigating whether Trump and his company committed tax fraud, insurance fraud, or other crimes by manipulating the value of their assets and inflating their income.
- The New York attorney general’s office is conducting a civil inquiry into whether Trump and his company misstated the value of their assets to obtain loans and tax benefits.
- The IRS is auditing Trump’s tax returns from 2010 to 2018, focusing on a $72.9 million tax refund that he claimed in 2010, which could be challenged or reversed.
- The Department of Justice is investigating whether Trump obstructed justice, abused his power, or violated campaign finance laws during his presidency, especially in relation to his dealings with Ukraine, Russia, and his former lawyer Michael Cohen.
The future of Trump’s wealth
Trump’s wealth is likely to face more challenges and uncertainties in the future, as he deals with the consequences of his presidency, the pandemic, and the legal and political battles that await him. He may have to sell some of his assets, pay off some of his debts, or settle some of his lawsuits, which could reduce his net worth further. He may also have to pay more taxes, fines, or penalties, depending on the outcome of the investigations and audits that he faces.
However, Trump may also find new opportunities and sources of income, as he remains a popular and influential figure among his loyal supporters and followers. He may leverage his media platform, Truth Social, to reach out to his base and promote his views and agenda. He may also launch new ventures, such as a subscription-based online network, a book deal, or a speaking tour, to generate more revenue and publicity. He may even run for president again in 2024, if he is not barred or disqualified by the law or the courts.
Whatever the case, Trump’s wealth will continue to be a matter of interest and controversy, as he remains one of the most divisive and polarizing figures in American history.
¹: What Is Donald Trump’s Net Worth and What Are His Assets?
²: Donald Trump drops from the Forbes 400 list of richest Americans
³: Donald Trump’s net worth in 2023: How much money does the former president have?
What Is Donald Trump’s Net Worth and What Are His Assets? – Investopedia. https://www.investopedia.com/updates/donald-trump-net-worth/
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