Donald Trump, a multifaceted figure in American society, boasts a diverse portfolio encompassing politics, entrepreneurship, real estate, literature, and entertainment. With an estimated net worth of $8 billion, he rose to political prominence in November 2016 by securing victory over Hillary Clinton to assume the role of the 45th President of the United States. However, his bid for reelection in November 2020 was thwarted by Joe Biden.
Before his presidential tenure, Trump garnered recognition chiefly as the proprietor of The Trump Organization, a conglomerate specializing in real estate and licensing ventures. The organization holds stakes in numerous commercial and residential properties worldwide, including renowned golf courses in the United States, Scotland, and Ireland. Notably, The Trump Organization maintains ownership interests in prestigious locations such as 40 Wall Street in New York City and 555 California Street in San Francisco.
| Category | Richest Business › Richest Billionaires |
|---|---|
| Net Worth | $8 Billion |
| Salary | $400 Thousand |
| Birthdate | Jun 14, 1946 (77 years old) |
| Birthplace | Queens |
| Gender | Male |
| 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 |
Despite his association with iconic real estate assets, many properties bearing his name are not directly owned by him or his business. For instance, Trump International in New York City is owned by General Electric and the Galbreath Company, with Trump’s name licensed for added prestige since 1996. However, Trump retains ownership of select components within the building, including a condominium, parking garage, lobby facilities, and restaurant and room service facilities. Additionally, The Trump Organization possesses the retail and commercial segments of Trump Tower, while the majority of its residential units are privately owned condominiums, including Trump’s opulent 10,000-square-foot penthouse adorned with gold accents.
Of significant note is Trump’s substantial ownership interest, approximately 60%, in the publicly traded entity overseeing his social media venture, Truth Social. Following the company’s public listing through a Special Purpose Acquisition Company (SPAC) in March 2024, Trump’s holdings soared to an estimated $5 billion. Furthermore, financial disclosures from campaign filings reveal that Trump has amassed hundreds of millions of dollars since 200 through licensing agreements for his name, which has been affixed to various products and real estate projects across the globe.
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Trump Media/DWAC Stock Holdings
Twitter barred Donald Trump on January 9, 2021. In response, he initiated his own social media platform akin to Twitter, named Truth Social, under the umbrella of his newly founded tech enterprise, Trump Media & Technology Group (TMTG). In October 2021, TMTG announced plans to become publicly traded via a SPAC merger with Digital World Acquisition Corp (DWAC), a listed holding company. However, due to regulatory hurdles and other complications, the merger didn’t materialize in 2022 or 2023.
On March 22, 2024, DWAC shareholders greenlit the merger, granting Trump ownership of 60% of the combined entity, equivalent to 78.75 million shares. At the time of approval, this stake amounted to $3 billion. Following the merger’s completion, DWAC’s ticker symbol was altered to DJT.
Per the company’s agreements, Trump is prohibited from trading or loaning his shares for six months. Additionally, if the share price remains above $17.50 for 20 trading days within a 30-day period, Trump stands to gain an additional 36 million shares.
Shortly after the merger, the company boasted a market capitalization of $9 billion, valuing Trump’s stake at $5.4 billion and catapulting him into the league of the world’s 500 wealthiest individuals. However, by mid-April, the company’s market capitalization halved. For instance, on April 12, with shares trading at $30, the market cap stood at $4.3 billion, diminishing Trump’s stake to $2.6 billion. Nevertheless, Trump attained his 36 million share “earnout bonus” on April 23, 2024, with the additional shares estimated at approximately $1.3 billion.
Apprentice Earnings
When Donald partnered with Mark Burnett to create “The Apprentice,” NBC presented an incredibly favorable offer. Donald’s arrangement for “The Apprentice” granted him a 50% share of the show’s profits. In its most successful year, 2005, he amassed just shy of $48 million. Over the span of 2000 to 2018, his earnings from “The Apprentice” through NBC totaled $197.3 million. Subsequently, leveraging his rising prominence from the show, he secured an extra $230 million in endorsement and licensing agreements.
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Presidential Salary
In his role as President, Donald received a yearly salary of $400,000, from which he consistently contributed all but $1 to charitable causes during his tenure. Now as a former President, he will receive an annual pension of $211,000. Additionally, ex-Presidents are granted up to $1 million annually for travel expenses, lifelong Secret Service protection, $150,000 for staff expenditures, and reimbursement for office space. For instance, the annual office space reimbursement for Bill Clinton exceeds $500,000, paid by US taxpayers.
Early Life
Donald John Trump was born on June 14, 1946, to Fred Trump, a wealthy real estate magnate. Alongside Donald’s grandmother, Elizabeth, Fred ventured into home construction and sales. Their enterprise, initially named Elizabeth Trump & Son in 1927, focused on constructing numerous single-family residences in Queens. Over time, their business expanded, eventually overseeing the management of over 27,000 rental units along the East Coast, primarily in the adjacent boroughs of New York City.
Donald’s education included a stint at the Kew-Forest School in Forest Hills before transferring to the New York Military Academy at the age of 13. He pursued higher education at Fordham University and The Wharton School of Finance at the University of Pennsylvania, earning a degree in economics in 1968.
Upon completing his studies, Donald joined his father’s company, later known as The Trump Organization, based in New York. During the 1970s, the Trump family amassed wealth through the ownership and rental of properties catering to middle and lower-income demographics in boroughs such as Brooklyn, Staten Island, and Queens.
Remarkably, through shares allocated in his father’s company from an early age, Donald technically became a millionaire at the age of eight in 1954.
In 1976, Fred Trump established $1 million trust funds for each of his five children and three great-grandchildren, equivalent to approximately $5 million in today’s currency. These trusts yielded annual dividends sourced from profits generated by Elizabeth Trump & Son’s rental income and property transactions.
By 1982, Donald and Fred jointly appeared on the inaugural Forbes 400 list of wealthiest Americans, boasting a combined net worth of $200 million, equivalent to around $500 million in today’s terms. Adjusted for inflation, each Trump sibling had received approximately $413 million in inheritance and dividends from Fred Trump by his passing in 1999.
Independent Success
In 1976, Donald, eager to relocate the family business from the outer boroughs to Manhattan, ventured out on his own with the support of a newly established trust fund and a loan from his father. Over the ensuing decades, Fred extended loans totaling at least $60 million to Donald for various ventures, many of which were never repaid.
An early independent triumph came in 1976 with the renovation of the Commodore Hotel, transforming it into the renowned Grand Hyatt, New York. Amidst a severe economic downturn, the Trump Organization, under Donald’s guidance, invested $100 million over four years to revitalize the property, widely lauded as a success for both the hotel and the city.
In 1982, construction commenced on what would become Trump Tower, a 58-floor skyscraper on Fifth Avenue. Featuring residential units, restaurants, and retail spaces, it includes a triplex serving as Donald’s longtime New York residence. By 2006, its value stood at $318 million, surging to around $600 million by 2015, though recent estimates suggest a valuation between $400 and $500 million due to a slight decline in NYC real estate values and a $100 million mortgage.
Trump’s real estate holdings in New York City encompass Trump World Tower, Trump Place, and Trump International, with past ownership of The Plaza Hotel. Many properties bearing the Trump name operate under licensing agreements where other owners pay fees to use the brand.
In the late 1980s, Donald expanded into Atlantic City, developing numerous casino properties, including the Trump Taj Mahal Casino, which opened in 1990. Despite financial struggles, requiring bailouts from Fred Trump, the casinos experienced several bankruptcies from 1991 to 2009.
Among Trump’s notable real estate assets are Trump Winery in Charlottesville, Trump Doral golf club in Miami, Trump Chicago luxury hotel/condo complex, and properties like 40 Wall Street and Trump International Golf Links in Aberdeen, Scotland. His diverse portfolio, detailed in his May 2016 Personal Financial Disclosure, showcased assets surpassing $1.4 billion, with significant income from golf courses, resorts, and rental properties, alongside substantial mortgage liabilities.
In 2022, Trump launched Truth Social, a social media platform, following his Twitter ban. Despite reinstatement on Twitter by Elon Musk, Trump expressed intent to remain on Truth Social.
Books and TV Show
Donald has authored a number of books, including the bestsellers “The Art of the Deal,” “Trump 101: The Way to Success,” and “The America We Deserve”.
In 2004, Donald teamed up with Mark Burnett Productions to create a reality show for NBC called “The Apprentice.” The show premiered in January 2004 and eventually spawned several spinoffs and reboots, including “The Celebrity Apprentice.” Trump also earned two Emmy Awards for his work on The Apprentice.
Lawsuit declarations would later reveal that Donald earned $60 million per season of The Apprentice from NBC. He received a star on the Hollywood Walk of Fame in 2007.
Relationships and Children
Donald married Ivana Zelnickova (later Ivana Trump) in 1977. Together, they had three children: Donald Jr., Ivanka, and Eric. The couple split in 1992, and in 1993, he married his much-publicized mistress, Marla Maples, who gave birth to a daughter, Tiffany. They divorced in 1999. In 2004, Trump married supermodel Melania Knauss, who gave birth to his fifth child, William Barron Trump, in 2006.
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Donald Trump’s Net Worth – Is It $3 Billion? $9 Billion? $15 Billion?
In June 2015, Donald announced that he was running for President. With his announcement, he released an estimate of his personal wealth, which pegged his net worth at $8 – 10 billion. The main reason this net worth differs from most generally accepted evaluations of his wealth, has to do with how Donald values his personal brand. In his net worth estimate, Donald valued his personal brand at $3.3 billion. Other analysts value the brand at closer to $50 or $100 million.
As we mentioned previously, in 1982, Donald and his father were listed among the richest Americans with a combined net worth of $200 million, roughly $500 million in today’s dollars. Financial problems and real estate downturns in the 1980s caused Donald to drop off the list of 400 richest Americans throughout much of the 1990s.
As of this writing, his $2 billion net worth makes him roughly the 720th richest person in the world and the 260th richest person in America.
Over the years, Trump’s net worth, as reported by Forbes and outlets like Celebrity Net Worth, has earned scorn from Trump himself. In 2009, an author named Timothy O’Brien released a book called “TrumpNation: The Art of Being The Donald,” in which he estimated that Donald’s true net worth was not in the billions but was closer to $150 – $250 million. Trump was furious over the claim and sued O’Brien and his publisher for $5 billion for committing “actual malice” by citing three unnamed sources for his vastly lower net worth estimation. While Trump’s lawyers asserted that their client’s net worth was “proven conclusively” to be $7 billion, Trump himself was not so confident when under deposition. During the deposition, Trump stated:
“My net worth fluctuates, and it goes up and down with markets and with attitudes and with feelings, even my own feelings… Yes, even my own feelings, as to where the world is, where the world is going, and that can change rapidly from day to day. Then you have a September 11th, and you don’t feel so good about yourself and you don’t feel so good about the world and you don’t feel so good about New York City. Then you have a year later, and the city is as hot as a pistol. Even months after that it was a different feeling. So yeah, even my own feelings affect my value to myself.”
Forbes’ net worth estimate of Donald Trump’s net worth peaked at $4.5 billion in 2017. Forbes lowered its estimate to $3 billion in 2019. Forbes has reported that the value of Donald’s brand and real estate holdings have declined since he became President due to his personal controversies. Fortune Magazine has claimed the opposite, pegging his net worth at $3.3 billion, an increase of $300 million since the day he was elected.
When Celebrity Net Worth first began tracking Donald’s wealth in 2009, we estimated his fortune at $1.5 billion.
Personal Real Estate Holdings
Prior to becoming President and moving to The White House, Donald’s longtime primary residence was a 30,000-square-foot triplex penthouse at the top of his eponymous Trump Tower on Fifth Avenue in New York City. The apartment is famously covered in gold, marble, and diamonds, with Italian frescos on the ceiling. This condo is worth at least $100 million. Perhaps more like $150-200 million, thanks to the luxurious fixtures and notoriety.
Not far away from Trump Tower, Donald owns several units in a building called Trump Park Avenue, overlooking Central Park.
He also owns a 213-acre estate called Seven Springs, located in Westchester County, New York. He bought this property in 1995 for $7.5 million. He famously once rented the estate to Libyan dictator Muammar Gaddafi, who planned to sleep in a large Bedouin-style tent on the lawn when he was in town for the United Nations General Assembly. After a local uproar, Gaddafi stayed elsewhere.
In the 1980s, Trump paid $10 million for a 17-acre estate in Florida called Mar-a-Lago which he has referred to as “The Winter White House” during his time as President. Technically he acquired the property over two transactions totaling $10 million, as we’ll explain in a moment.
Mar-a-Lago
Mar-a-Lago in Palm Beach, Florida, is Donald’s primary residence. The property was constructed from 1924 to 1927 by cereal heiress Marjorie Merriweather Post. She spent $7 million in 1920s dollars constructing the mansion. That’s the same as $101 million in today’s inflation-adjusted dollars. Upon her death in 1973, Post donated the 17-acre estate to the United States Government, hoping it would be used as a Winter White House. The Federal government soon realized the cost of maintaining such a property was enormous and decided to decline the gift. The Post Foundation attempted to sell the property in 1981 for $20 million, the same as $56 million in today’s dollars. Post’s daughters did not maintain the property at all, and it quickly fell into disrepair.
Around this time, Trump had unsuccessfully attempted to buy a series of properties nearby. Having learned of Mar-a-Lago through friends, he offered the Post Foundation $15 million, but they declined.
Trump proceeded to purchase the land between Mar-a-Lago and the ocean for $2 million from Jack Massey, the former owner of KFC. He then announced his intention to build a large mansion on the parcel. Had he gone through with this plan, Mar-a-Lago’s ocean views would have been totally obstructed and as such, all remaining interest in the sale died. Trump ended up successfully buying Mar-a-Lago for $7 million in 1985. He proceeded to renovate the estate at a cost of many millions of dollars. He added a 20,000-square-foot ballroom, a waterfront pool, and five clay tennis courts.
After facing steep financial problems in the wake of a divorce and a precipitous decline in New York real estate values, in the 1990s, Trump briefly attempted to make a deal with his creditor bankers that would sub-divide the property into private residences, which he would sell off to raise funds, roughly $15 million. When Palm Beach residents learned of this plan they were furious and pressured the city council to reject this concept. As a consolation, he decided to turn the estate into a private club. Actually, there’s a bit more to that story. Palm Beach officials agreed to allow Trump to turn the home into an income-producing private club, on the condition that he agree to a give the property a permanent conservation easement that would protect the estate from development.
Today, the 126-room, 62,500-square-foot mansion is a members-only club with hotel-like amenities, including guest rooms and a spa. If it were to be put up for sale in an average market, it would fetch at least $160 – 200 million.
Impeachment & Investigations
Donald Trump is the only American president to have been impeached twice. He was impeached in December 2019 by the House of Representatives for abuse of power and obstruction of Congress after trying to pressure Ukraine to investigate Biden. He was acquitted by the Senate in February 2020. Trump was impeached a second time by the House for incitement of insurrection, and he was acquitted the next month. In December 2022, the House January 6 Committee recommended criminal charges against him for obstructing an official proceeding, conspiracy to defraud the U.S., and inciting an insurrection.
In November 2022, Trump announced his candidacy for the Republican nomination in the 2024 presidential election. In March 2023, a Manhattan grand jury indicted him on 34 counts related to his handling of classified documents. This made him the first former president to be indicted. Trump has pleaded not guilty to all charges.