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Donald Trump’s Net Worth Early Life, Presidential Salary & More Details!
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What is Donald Trump’s net worth?
In addition to being a politician and real-estate developer, Donald Trump is also an author and television host in the United States. He has a total wealth of $2 billion at the time of this writing, according to Forbes. The Trump Organization, a real estate and licensing behemoth, was Donald’s primary source of fame before becoming President of the United States.
Commercial and residential assets owned by the Trump Organization can be found all over the world, including golf courses in the United States, Scotland, and Ireland. Licensing his name for other items as well as real estate development ventures has also made him millions since 2000.
Donald Trump was elected 45th President of the United States in a landslide victory against Hillary Clinton in November 2016. Joe Biden defeated Donald Trump in the 2020 reelection race.
NBC provided a bargain that seemed almost too good to be true when Donald and Mark Burnett teamed up to produce “The Apprentice.” Donald signed a contract with The Apprentice that stipulated that he would receive 50 percent of the show’s income. 2005 saw him make just under $48 million in his best year. NBC paid Donald a total of $197.3 million in Apprentice royalties between 2000 and 2018.
After that, he made an additional $230 million in sponsorship and license deals with his newfound prominence from “The Apprentice.”
Donald was entitled to a salary of $400,000 per year while he served as President. During his time in office, he contributed everything but one dollar of his income to charity each year. He will receive a $211,000 annual pension as an ex-president. Reimbursements for travel expenses, Secret Service protection and the cost of office space are also given to ex-presidents. A yearly office space reimbursement of more than $500,000 is paid by US taxpayers for Bill Clinton.
On June 14, 1946, Fred Trump, a billionaire low-income real estate mogul, gave birth to Donald Trump, his son. Construction and sales of houses were a family business for both Fred and Donald Trump’s grandmother Elizabeth. Elizabeth Trump & Son, which was incorporated in 1927, built a huge number of single-family homes in Queens. More than 27,000 rental units were acquired and managed by the corporation along the East Coast, particularly in the boroughs surrounding New York City.
Donald briefly attended the Forest Hills Kew-Forest School but was moved to the New York Military Academy at the age of thirteen for further military training. After graduating from Fordham University and the Wharton School of Finance at the University of Pennsylvania, he went on to work for the Federal Reserve Bank of New York and the Federal Reserve Bank of Philadelphia.
After college, Donald returned to New York and began working for his father’s business, which he would later rename The Trump Organization. They made a tonne of money in the 1970s owning and renting properties in New York City’s surrounding boroughs, such as Brooklyn, Staten Island, and Queens for the middle and lower classes.
As an 8-year-old in 1954, Donald Trump was a millionaire on paper since he had been given shares in his father’s company at various ages.
A trust fund of $1 million was established for each of Fred Trump’s three great-grandchildren in 1976. In today’s terms, that’s about $5 million. Elizabeth Trump & Son’s rental income and property sales generated earnings for the trusts, which were distributed as dividends each year.
Combined net worth of $200 million in 1982 put Donald and Fred on the first Forbes 400 list of America’s wealthiest people, a figure that has since risen to about $500 million. By the time Fred Trump passed away in 1999, his children and grandchildren had received an average of $413 million in inheritance and profits, after accounting for inflation.
- By the age of 3 was earning $200k from family dividends
- Was a millionaire by the age of 8 thanks to family trust funds
- Decades later those trusts would generate $5m per year
- By far the wealthiest President in US history
- Earned $427.4m between 2004 and 2018 for producing “The Apprentice”
Forbes testified to the New York grand jury yesterday about Donald Trump’s falsification of his net worth and asset values.
Pro tip: falsifying asset values on a loan application is a felony.
Grand juries exist to indict people.
Yes, Trump really is on a path to prison.
— Palmer Report (@PalmerReport) December 17, 2021
In 1976, with his newly established trust money and an additional loan from his father, Donald set out on his own to shift the family enterprise from the outer boroughs to Manhattan. At least $60 million would be loaned to Donald by Fred over the next three decades, most of which was never repaid.
It was in 1976 that he completed the remodeling of the Commodore Hotel into the Grand Hyatt New York, which still stands today. A terrible economic downturn gripped New York City at that time. More than $1.5 million in operating losses were recorded by Commodore in the preceding year. Over the next four years, the Trump Organization, at Donald’s command, spent $100 million on renovations to the property. The property and the city as a whole benefited greatly from the makeover, which was widely regarded as a huge success. As part of a deal with the Pritzker family, Donald sold a 50 percent ownership in the skyscraper for $142 million.
Donald Trump began construction in 1982 on what would become Trump Tower, a 58-story skyscraper on Fifth Avenue. 238 apartment units, three restaurants, and several first-floor retail shops populate Trump Tower. For decades, Donald has lived on the top three floors of this triplex property in New York City. When Forbes valued Trump Tower in 2006, the property was valued at $318,000,000, or $288,000,000 if Trump’s $30 million debt was erased. The building’s worth nearly doubled to $600 million in 2015 thanks to Gucci’s flagship store. With a $100 million debt and a modest decline in New York City real estate markets, the property is likely worth $400-500 million now.
He also owns Trump World Tower, Trump Place Trump International, and Trump Tower in New York City. Before that, he had control of the Plaza Hotel in New York City. It is not uncommon for other owners to pay the Trump Organization a fee for the right to use the brand Trump and to routinely handle leasing, sales, and other aspects of building operations.
At some point in the 1980s, Donald expanded his holdings to Atlantic City, building many casinos there. In 1990, Trump Taj Mahal Casino debuted as Trump’s main casino. Fred Trump was forced to bail out the casinos regularly since they were always losing money. There were multiple bankruptcies by Trump’s casino and resort operations between 1991 and 2009.
Other notable Trump real estate assets today include:
- Trump Winery in Charlottesville, Virginia, which also serves as a boutique hotel
- Trump Doral – a golf club in Miami
- Trump Chicago – a luxury hotel/condo complex
- 40 Wall Street in NYC
- Trump International Golf Links in Aberdeen, Scotland
- Additional golf courses/resorts in Ireland, Ferry Point, New York, Turnberry, Scotland, Los Angeles, Dubai, Bedminster, New Jersey, among others…
Financial disclosures he made in May of this year revealed a net worth of at least $1.4 billion, $300 million in income from golf courses and resorts, $100 million in rental income, and at least several hundred million in mortgage obligations.
Books and TV Show
In addition to the hits “The Art of the Deal,” “Trump 101: The Way to Success,” and “The America We Deserve,” Donald has written several other books.
NBC’s “The Apprentice” reality show was created in 2004 by Donald and Mark Burnett Productions. “The Celebrity Apprentice” was a spin-off of “The Apprentice,” which debuted in January 2004. As a result of his work on The Apprentice, Trump was recognized with two Emmy Awards.
NBC would eventually reveal in lawsuit affidavits that Donald was paid $60 million every season to appear on The Apprentice. Star on the Hollywood Walk of Fame in 2007 for his contribution to entertainment.
Relationships and Children
It was in 1977 that Donald married Ivana Zelnickova (known now as Ivana Trump). Three children were born as a result of their union: Donald Jr. (Ivanka) and Eric (Donald). After their divorce in 1992, he married Marla Maples, his much-publicized mistress and the mother of his daughter, in 1993. In 1999, they divorced. Trump married supermodel Melania Knauss in 2004, and William Barron Trump, Trump’s fifth child, was born in 2006 thanks to their union.
Donald Trump’s Net Worth – Is It $3 Billion? $9 Billion? $15 Billion?
After announcing in June 2015 that he was running for President, Donald made it official. It was revealed that an estimate of his wealth ranged from $8 to $10 billion with his declaration. According to this estimate, Donald Trump’s net worth is far higher than that of most other wealthy people. According to Donald’s assessment of his net worth, his brand is worth $3.3 billion. Others estimate the brand’s value at $50 million or more.
Donald and his father were among the wealthiest Americans, with a combined net worth of $200 million in 1982, or about $500 million in today’s terms. For much of the 1990s, Donald was no longer on the list of the 400 richest Americans because of financial and real estate downturns in the 1980s.
Currently, he is the 720th richest person in the world and the 260th richest person in the United States, with a net worth of $2 billion.
Forbes and Celebrity Net Worth’s reports on Donald Trump have been derided by Trump himself over the years. In his book “TrumpNation: The Art of Being The Donald,” Timothy O’Brien estimated that Donald Trump’s real net worth was between $150 and $250 million in 2009. By using three anonymous sources, O’Brien and his publisher committed “actual malice” in estimating Trump’s net worth at $5 billion, according to Trump’s lawsuit. In his deposition, Trump was less sure of his $7 billion net worth than his lawyers claimed when they declared it had been “established clearly.” This is what Trump said in the deposition:
“Markets, attitudes, and feelings — even my own — all affect my net worth. Yes, even my thoughts and feelings about where the world is and where the world is headed, and how quickly that may change. Then comes September 11th, and suddenly you’re not feeling so wonderful about yourself, the world, or even New York City. It’s been a year since you left, and the city is now as hot as a gun. Even months later, the sensation lingered. The worth I place on myself is influenced by my thoughts and feelings.”
Donald Trump’s net worth was estimated by Forbes in 2017 to be $4.5 billion. In 2019, Forbes revised its forecast down to $3 billion. Donald Trump’s controversies have lowered the value of his brand and real estate investments, according to Forbes. Contrary to popular belief, his net worth was recently estimated at $3.3 billion, a gain of $300 million from the day he was elected, according to Fortune Magazine.
A whopping $1.5 billion was our initial estimate of Donald’s net worth when we started tracking him in 2009.
Personal Real Estate Holdings
Donald Trump lived in a 30,000-square-foot triplex penthouse in New York City’s Trump Tower before becoming president and relocating to the White House. The ceiling is decorated with Italian frescos and is renowned covered in gold, marble, and diamonds. There is no doubt that this property is valued at at least 100 million dollars. Luxurious fittings and notoriety likely inflated the price to $150-200 million.
Trump Park Avenue, a high-rise overlooking Central Park, is just a few blocks from Trump Tower.
In addition, he owns a 213-acre home in Westchester County, New York, named Seven Springs. He paid $7.5 million for it in 1995. When Libyan dictator Moammar Gadhafi was in town for the United Nations General Assembly, he permitted him to remain on the property in a big Bedouin-style tent.
During his time as President of the United States, Trump referred to Mar-a-Lago, a 17-acre estate in Florida, as “The Winter White House.” There were two deals totaling $10 million that he made to acquire the property, as we’ll describe later.
Marjorie Merriweather Post built Mar-a-Lago between 1924 and 1927. The mansion cost her $7 million in the 1920s dollars to build. In today’s inflation-adjusted money, that’s the equivalent of $101 million. Post hoped that her 17-acre home would be used as a Winter White House when she died in 1973. The Federal government quickly realized that keeping such a property would be prohibitively expensive, therefore it turned down the offer. For $20 million in 1981 prices, the Post Foundation attempted to sell the land. Post’s daughters neglected the property and it gradually descended into a state of neglect.
Trump had previously tried to buy several homes in the area at the same time. For $15 million, the Post Foundation turned him down after hearing about Mar-a-Lago from pals.
As a result, Trump paid Jack Massey, a former KFC owner, $2 million for the land separating Mar-a-Lago from the ocean, and revealed his plans to erect a massive home there. Mar-a-ocean Lago’s vistas would have been completely impeded if he went ahead with this proposal, and the property’s sale would have been effectively dead. In the end, Trump was able to successfully purchase Mar-a-Lago in 1985 for $7 million. It took him several years and several billions of dollars to finish renovating the entire state. An additional ballroom, an outdoor pool, and five clay tennis courts were erected by him.
Trump had to make a deal with his creditor bankers in the 1990s after experiencing severe financial difficulties as a result of his divorce and the sharp decrease in New York real estate values. Trump agreed to subdivide the land into private apartments, which he then sold to earn money. Residents of Palm Beach, Florida, were outraged when they learned of this idea and urged the municipal council to reject it. He decided to transform the estate into a private club as a consolation.
The 62,500-square-foot estate, which once housed 126 rooms, is now a members-only club featuring hotel-style amenities like a spa and guest rooms. It would sell for between $160 million and $200 million on the open market.
Trump’s net worth as of this writing, is $2 billion. In November 2016, he was elected President of the United States as a real estate developer, novelist, and politician. One term was all he had.
|Net Worth:||$2 Billion|
|Date of Birth:||Jun 14, 1946 (75 years old)|
|Height:||6 ft 3 in (1.91 m)|
|Profession:||Entrepreneur, Businessperson, Writer, Investor, TV Personality, Television producer, Film Producer, Actor, Economist, Real estate entrepreneur|
|Nationality:||United States of America|