&w=1200&resize=1200,0&ssl=1 "Donald Trump is ‘really, really rich’. But how much money does he have? – First message")
On November 5, America made its choice and elected Donald Trump over Kamala Harris. The 78-year-old was declared the winner of the US presidential election and will now be sworn in as the 47th president of the United States in January.
As president he is now entitled to one
salary of $400,000 per year. However, Trump doesn’t necessarily need the paycheck. That’s because if there’s one thing we know about the American president, it’s that he is, in his own words, “really, really rich.”
But how rich is he? That question has been asked over the years in court, on the campaign trail and by the media. And now that he has won, it has resurfaced.
For those who want the answer, read on to find out.
What is Donald Trump’s net worth?
Starting on November 4, the day before America went to the polls, Forbes estimated Trump’s wealth at $5.6 billion. That’s $1.9 billion more than he was worth in 2016 and $3.1 billion more than in 2020, the news outlet reported.
BloombergEarlier this year, he estimated his net worth at $7.67 billion, ranking him 473rd on the Bloomberg Billionaire Index list of the world’s 500 richest people.
Trump’s wealth has long been a topic of discussion for many, and this interest in his wealth has only increased with his refusal to reveal his
tax returns and income.
A woman wears a Trump hat and pin as supporters celebrate the election results near his Mar-a-Lago resort in Palm Beach, Florida. He ranks 473rd on the Bloomberg Billionaire Index list of the 500 richest people in the world. AFP
Where did Trump make his money?
Known as a real estate mogul, Trump’s recent wealth comes from Trump Media & Technology Group Corp, the parent company of his social network.
Truth social. The value of this company, according to Forbes, is $3.5 billion.
However, this value keeps changing as the value of the stock fluctuates from low lows to high highs. For example, the company’s shares soared to more than $50 after Trump’s campaign rally
Madison Square Garden. This came after shares hit their lowest levels in the first week of September.
The US President-elect is also known as a real estate magnate; its investments in the sector are worth $1.1 billion. Trump’s real estate holdings include a 30 percent stake in 1290 Avenue of the Americas, an office and retail building in New York. The building is worth approximately $1.8 billion. He also owns a 30 percent stake in a three-building complex at 555 California Street and 17 apartments in his Trump Park Avenue building.
A person walks outside Trump Tower in New York City. Trump Tower is valued at $161 million. Reuters
Trump also has other properties such as Trump Tower, estimated at $161 million, Trump International Hotel Las Vegas, worth about $122 million, three homes in Florida and a variety of residential lots. Other properties include Trump World Tower, Trump Plaza, Trump International Hotel & Tower in Chicago, Trump Palace and two houses next to one of his golf clubs in Virginia.
Donald Trump owns the
Mar-a-Lago and Trump National Doral Miami resorts, valued at $325 million and $273 million respectively, and 10 golf clubs in six states and three golf properties in Europe.
Trump also owns $3 million
cryptocurrency and an airplane worth $13 million. The president-elect also claims to have $413 million in liquid assets.
It is further reported that he makes money by licensing his name to a variety of items ranging from Bibles to sneakers. Trump also makes money from his books; Letters to Trumpgrossed $4.5 million, while royalties from the television show accrued The student helped raise more money.
A general view of newly elected President Donald Trump’s Mar-a-Lago estate in Palm Beach, Florida. It is believed to be worth $325 million. File image/Reuters
What about Trump’s obligations?
But despite all the money he makes, Trump is not without financial obligations. He has mortgages on Trump Tower and other properties.
But Trump’s biggest liability concerns his legal obligations Forbes estimated at more than $500 million. He owes more than $540 million in legal judgments related to two lawsuits in New York. In February, he was ordered by a New York court to pay $355 million in fines for submitting “blatantly false financials” to obtain favorable rates on brand-building properties. This fine increased to $464 million in mid-March.
In 2023, Trump was also found liable for sexually assaulting an author and journalist
E Jean Carroll in the dressing room of Bergdorf Goodman department store in Manhattan, the mid-1990s and beyond
defamatory her by lying about it. The nine-person jury awarded Carroll more than $83 million in damages: $65 million in punitive damages and $18.3 million in compensatory damages.
Protesters hold up signs behind writer E. Jean Carroll as she leaves court where Donald Trump is asking a federal appeals court to overturn a $5 million jury verdict finding him liable for sexually assaulting and defaming her. File image/Reuters
Trump has promised to fight these judgments.
According to a report from The independent in May, he owed lawyers a roughly seven-figure sum — about $1.1 million, based on filings with the Federal Election Commission by Trump’s political action committee (PAC), Save America.
It’s interesting to see how Trump has grown his wealth since he started. In 1982, his estimated net worth was approximately $200 million, before growing to $1.7 billion in 1989. However, he fell out of trouble in the 1990s. Forbesrichest list. But that didn’t last long and in 2007 his fortune grew to $3 billion.
In recent times, he has remained a billionaire with a fluctuating net worth from $3.2 billion to almost $5 billion.
With input from authorities
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